Amortisation is on straight line basisover estimated useful life not exceeding 20 years. They can be amortised over legal term of validity or over their working life whichever is shorter. Deferred Revenue Expenditure is written off over the beneficial period. Income taxes are provided against current period income as reflected in the financial statements. The amount of tax that is current payable is recorded.
Differences dueto foreign exchange fluctuations on fixed assets acquisitions.
The Board of Directors decide and approve the dividends to be declared. The shareholders at the AGM approve the dividend. Proposed by the Board of Directors. Accounting for dividends declared is in the year of declaration. Accounting for dividends declared is in the year for which it pertains to.