Acounting Standards

Change in accounting policies 1. Certain freehold and leasehold land, factory and other(a) buildings and residential quarters were re reputed during 1985, 1986 and 1996. The phoner in 2010 decided to reprize these assets at historical cost. As a result Rs 138,036 gm win of depreciation was adjusted against book value of immovable assets and tally recap reserve. This had no impact on the net earn for the division. In 2011, the company revised its accounting policy for mildness of God arising on skill of businesses from amortization. As a result, proceeds for the year increased by Rs 81,629 thousand. 2. In 2010, exception for revaluation of legitimate land and building for stating fixed assets was removed. Also the carrying amounts were reviewed at to each one balance sheet date when undeniable to assess whether they were record in excess of their redeemable amounts, and where carrying set exceed this estimated retrievable amount, assets were written down to the ir recoverable amount. The recoverable amount is the greater of the assets net selling price and value in use. In 2011, such mode was dropped. 3. In 2010, straight-line method of depreciation was excessively applied for seemliness on acquisition over a period of five years scarcely in 2011 goodwill on acquisition was not amortized alone tested for impairment 4. In 2011, disclosure for contingent on(p) financial obligation and asset was taken into consideration. Disclosures for contingent liability are make when in that location is a realistic or render obligation for which it is not probable that there will be an outflow of resources. When there is a contingent or nowadays obligation in respect of which the likeliness of outflow of resources is remote, no disclosure is made. Contingent assets are uncomplete recognized nor divulge in the financial statements. 5. In 2011, outer boundary make tax was removed from the taxation policy of the company because of The fina nce Act 2009. If you want to get a effectiv! e essay, ball club it on our website: OrderCustomPaper.com

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