Page 132 - CCRT-Annual-Report-2013-14

CENTRE FOR CULTURAL RESOURCES AND TRAINING

Schedule 24 - Significant Accounting Policies and Notes to Accounts

Accounting Convention The financial statements are prepared on the basis of historical cost convention. Method of Accounting These accounts are based on the accrual method of accounting except for the expenditure on gratuity and leave encashment are accounted for on cash basis. Investments Investments for GPF are considered as long term investments and are carried at cost. However the interest accrued on GPF investments for this financial y

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