Selfdiscipline

BACKGROUND INFORMATION ABOUT TACT ACADEMY FOR clinical TRAINING PVT LTD I. TACT ACADEMY FOR CLINICAL TRAINING (TACT) is a participation incorporated under the Companies Act, 1956 as on appalling 13, 2007 having its registered office in the state of Tamilnadu. The union is engaged in the business of providing multi-disciplinary critical care training, clinical training, medical and health education to medical students, general physicians, doctors in the medical device and general public in India. II. SIGNIFICANT ACCOUNTING POLICIES administration of story The Accounts are prepared in all hearty prize in accordance with the generally accepted story principles in India and in accordance with the relevant mandatory write up standards issued by the Institute of Chartered Accountants of India (ICAI) and the relevant provisions of the Companies Act, 1956. The company is a small and medium sized compa ny (SMC) as defined in General Instructions in complaisance of accounting Standards notified under the Companies Act, 1956. Accordingly, the company has complied with the Accounting standards as applicable to SMC. The fellowship adopts accrual basis in the preparation of accounts on a going concern assumption.

tax income Recognition The company derives revenues primarily from medical training and other allied services. In accordance with Accounting Standard 9 on Revenue Recognition issued by Institute of Chartered Accountants of India (ICAI), the revenues are acknowled ge on achievement of such services and the ! collection of the compensation is probable. Royalty income is recognized on accrual basis in accordance with the monetary value of the agreement. Expenses The Company provides for all expenses on accrual basis with obligatory provisions for committed obligations.If you deficiency to get a to the full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper