Accounting policies require treatment of investments, fixed assets, depreciation, grants and foreign currency gains/losses. Accounting policies require preparation on a historical cost and accrual basis; long term investments carried at cost with provisions for non temporary decline; current investments at lower of cost and fair value with individual provisions; fixed assets capitalized including pre operational expenses and non monetary grants credited to capital reserve; depreciation on straight line basis with pro rata treatment and full write off for low value items; deferred revenue expenditure amortized over five years; government grants recognized as capital reserve or deducted from asset cost on realization; foreign currency gains/losses allocated to asset cost when related or to revenue otherwise; lease rentals expensed; retirement benefits accrued on actuarial/entitlement basis.