EFTA01366975.pdf

Amendment #4 Page 546 of 868 1atilt iit ('nnrrni. Accounts receivable and allowance for doubtful accounts /tempts renewable are reported in the balance sheets at the invoiced amounts adjusted for any write-offs and an allowance to doubtful accounts We establish an allowance for doubtful exeunt; to squat our recervalles to amounts considered to be ullmately oollectbe Oa allowance is based On a variety ct fatted. 'nerving the length of time receivables are past did significant oneibrre everts Ifie trancel health of our customers and hstoncal experience There was no allowance for doubtful accounts included in accounts recerva be as of December 31, 2014 ce December 31 2013 Untereci recewables was INR 26,556,557 and INR 26.4306% as of December 31. 2014 and 2013 respectrvety Property and equipment Property and emppment consists Of land solar energy systems and construction in progress and is Stated at cost Expenditures for nary additions and improvements are captained and mircr repacements maintenance and repairs are charged to expense as ncurred ViThen property and equipment is retired or otherwise dsposed of the cost and accumiated deprecation is removed from the accounts and an/ resueing gain or toss is included in the resuts of operators for the respective period Defamation of property and equipment is recognzed Lang the straight-lie method over eie estimated useful Ives 01 the solar energy systems which is thirty years Land owned by the Company is not depreciated Land has an uvimrteci usefU life An item of property and equipment 'Malty recognized a derecognized upon disposal or when no I Lture economic benefits are expected from es use or dtsposal Any gain or loss arising on do-recognition of the asset (calaiated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the Statements of Operations Mien the asset is dereccgnized For the periods presented, the Company cad not recorize any gain tar lass on de.reccgmlon or assets All repair bid maintenance coststhal do not meet capitenzation criteria are recognized in the Statements et Operations as =vied The assets residual values useful lives and methods of deprecation are reviewed at each finance' year-end and adjusted prospect very if appropriate CapttellzedIntern, Merest expense consisting of a morteat on of deferred financing costs and amounts incurred on funds borrowed to finance construction of solar energy systems is captained until the system is ready for its intended use The amount of interest capitalized was NR Nil and RIR 13 501,370 for the years ended December 31. 2014 and December 31 2013 respeetive?), Deterred linancing costs Finsnong rods incurred in connection wt h obtaining construction and term financing are deferred and amortized over the matuiltes of the respective financing arrangements Amonnaton of deferred frenting costs a capeatzed during constructor, and recorded es interest expense in the financial statements o operations following commencement of commercial operation There was nO deferred financial costs that were °apt alised Amortnalon of deferred firen0n9 costs was recorded as Irteted expense and totalled INR 3.482.303 and NR 2.145 285 Marna the years ended Decorator 31. 2014 and 2013, respectsty Impairment of long-ilved assets Lorg.twed assets trial are held and used are reviewed for impairmert whenever events or Georges in circumstances indicate carrying values may rot to recoverable An impairment loss is fOCCgliZed a the total F.226 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058503 CONFIDENTIAL SDNY GM_00204687 EFTA01366975