Accounting Policies and Notes to the accounts of

National Institute of Neurological & Heart Center for the FY 2075/76

Accounting Policies:
1. Significant Accounting Policies
Accounts are maintained as for as possible on the accrual basis following historical cost
concept. Financial Statements have been prepared complying the Accounting Standard
generally followed in Nepal.
2. Use of Estimates:
The preparation of financial statements in conformity with generally accepted
accounting principles that requires estimates and assumptions to be made that affect the
reported amount of assets and liabilities and disclosure of contingent liabilities on the
date of the financial statements and the reported amounts of revenues and expenses
during the reporting period. Differences between actual results and estimates are
recognized in the periods in which the results are known/ materialized.
3. Fixed Assets:
Depreciation on the Fixed Assets has been charged as per the norms prescribed by the
Income Tax Act 2058 on WDV basis.
4. Inventories:
Inventories have been valued at the lower of cost or market price as consistently
followed and it has been valued and certified the management.
5. Revenue Recognition:
Revenue from the sales of goods and services is recognized in the income statements
when the significant risk & rewards associated with the inventories have been
transferred to the buyer.

Notes to Account:
1. Cash in Hand is shown as taken and verified by the entity's management.

BHARATI ADHIKARI PRAKASH K. C.

Chairperson Auditor