Accounting Policies of Rishab Financial Services Ltd. Company

Mar 31, 2011

1 - ACCOUNTING CONVENTIONS :

Financial statements are prepared under the historical cost convention and generally accepted accounting principles.

2. INCOME & EXPENDITURE RECOGNITION :

The Company prepares its accounts on accrual basis.

3. PRUDENTIAL NORMS OF RBI :

The Company follows prudential norms prescribed by the RBI for income recognition, provisioning for NPA's etc.,

4. FIXED ASSETS & DEPRECIATION :

Fixed Assets are stated at cost of acquisition less accumulated depreciation is provided on the written Down Value Method at the rates prescribed in Schedule XIV to the companies Act, 1956

5. INVESTMENTS:

The Company has no balance in the investment account.

6. GOING CONCERN ASPECTS :

The Company is continuing in activities of following up the recoveries of its dues from its borrowers. In view of the above the accounts have been prepared on a going concern basis

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Mar 31, 2010

1. ACCOUNTING CONVENTIONS:

Financial statements are prepared under the historical cost convention and generally accepted accounting principles.

2. INCOME & EXPENDITURE RECOGNITION:

The Company prepares its accounts on accrual basis.

3. PRUDENTIAL NORMS OF RBI:

The Company follows prudential nonns prescribed by the RBI for income recognition, provisioning for NPA's, etc.

4. FIXED ASSETS & DEPRECIATION:

Fixed Assets are stated at cost of acquisition less accumulated depreciation. Depreciation is provided on the Written Down Value Method at the rates prescribed in schedule XIV to the companies Act, 1956.

5. INVESTMENTS:

The Company has no balance in the investment account.

6. GOING CONCERN ASPECTS:

The Company is continuing in activities of following up the recoveries of its dues from its borrowers. In view of the above, the accounts have been prepared on a going concern basis.