The financial statements are prepared under the historical cost convention, in accordance with Indian Generally ACCEPTED Accounting Principles ( GAAP ) COMPRISING of the accounting STANDARDS issued by the Institute of Chartered Accountants of India and the provisions of the Companies Act, 1956, as adopted consistently by the company.
All income and expenditure having a material bearing on the financial statements are recognized on the accrual basis. The preparation of the financial statements in conformity with GAAP requires, that the management of the company ( Management ) make estimates and assumptions, that affect the reported amounts of revenue and expenses of the period, reported balances of assets and LIABILITIES and disclosures relating to contingent assets and liabilities as of the date of the financial statements. Examples of such estimates include, expected contract costs to be incurred to COMPLETE software development, provision for doubtful debts, future obligations under employee retirement benefit plans and the useful lives of fixed assets. Actual results could differ from those estimates.

The financial statements are prepared under the historical cost convention, in accordance with Indian Generally Accepted Accounting Principles ( GAAP ) comprising of the accounting standards issued by the Institute of Chartered Accountants of India and the provisions of the Companies Act, 1956, as adopted consistently by the company.
All income and expenditure having a material bearing on the financial statements are recognized on the accrual basis. The preparation of the financial statements in conformity with GAAP requires, that the management of the company ( Management ) make estimates and assumptions, that affect the reported amounts of revenue and expenses of the period, reported balances of assets and liabilities and disclosures relating to contingent assets and liabilities as of the date of the financial statements. Examples of such estimates include, expected contract costs to be incurred to complete software development, provision for doubtful debts, future obligations under employee retirement benefit plans and the useful lives of fixed assets. Actual results could differ from those estimates.