Home  »  Company  »  Adharshila Capital  »  Quotes  »  Accounting Policy
Enter the first few characters of Company and click 'Go'

Accounting Policies of Adharshila Capital Services Ltd. Company

Mar 31, 2015

I) Basis of Accounting:

The accounts have been prepared under historical cost convention and in accordance with applicable accounting standards and relevant disclosure requirements of the Companies Act, 2013.

Recognition of Income & Expenditure:

Income & Expenditure is recognized on accrual basis.

ii) Fixed Assets and Depreciation:

Fixed assets are stated at cost, less accumulated depreciation/amortisation. Costs include all expenses incurred to bring the assets to its present location and condition. Fixed assets exclude computers and other assets individually costing 5000 or less which are not capitalised except when they are part of a larger capital investment programme. All Fixed Assets are stated at Historical Cost Less Depreciation.

Depreciation / Amortization In respect of fixed assets (other than freehold land and capital work-in-progress) acquired during the period, depreciation/ amortization is charged on a straight line basis so as to write off the cost of the assets over the useful lives and for the assets acquired prior to April 1, 2014, the carrying amount as on April 1, 2014 is depreciated over the remaining useful life as per the requirements of Schedule - II of the Companies Act 2013.

Type of asset Period

Computer equipment 3 years

Office equipment 5 years

Furniture and fixtures 10 years

iii) Investments:

Long-term Investments are stated at cost. Provision for diminution is made only if; in the opinion of the management such decline is other than temporary.

iv) Inventories:

Stock in trade is valued scrip wise at cost based on FIFO method or estimated realizable value whichever is lower.

v) Revenue Recognition:

All the items of cost/ expenditure and revenue/ income have been accounted for on accrual basis.Dividend income is recognised when the right to receive payment is established.

vi) Taxes on Income:

a) Current tax is determined as the amount of tax payable in respect of taxable income for the period.

b) Deferred tax is recognized, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on carry forward of losses unless there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

vii) Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in notes. Contingent assets are neither recognized nor disclosed in the financial statements.


Mar 31, 2014

I) Basis of Accounting:

The accounts have been prepared under historical cost convention and in accordance with applicable accounting standards and relevant disclosure requirements of the Companies Act, 1956.

Recognition of Income & Expenditure:

Income & Expenditure is recognized on accrual basis.

ii) Fixed Assets and Depreciation:

Fixed Assets are stated at cost less accumulated Depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and incidental expenses. Depreciation on all fixed assets has been changed on straight-line method at the rates and in the manner prescribed in schedule XIV to the companies Act, 1956.Low value items costing individually Rs.5000/- or less are fully depreciated in the year of purchase.

iii) Investments:

Long-term Investments are stated at cost. Provision for diminution is made only if; in the opinion of the management such decline is other than temporary.

iv) Inventories:

Stock in trade is valued scrip wise at cost based on FIFO method or estimated realizable value whichever is lower.

v) Revenue Recognition:

All the items of cost/ expenditure and revenue/ income have been accounted for on accrual basis. Dividend income is recognised when the right to receive payment is established.

vi) Taxes on Income:

a) Current tax is determined as the amount of tax payable in respect of taxable income for the period.

b) Deferred tax is recognized, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on carry forward of losses unless there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

vii) Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in notes. Contingent assets are neither recognized nor disclosed in the financial statements.


Mar 31, 2013

I) Basis of Accounting:

The accounts have been prepared under historical cost convention and in accordance with applicable accounting standards and relevant disclosure requirements of the Companies Act, 1956.

Recognition of Income & Expenditure:

Income & Expenditure is recognized on accrual basis.

ii) Fixed Assets and Depreciation:

Fixed Assets are stated at cost less accumulated Depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and incidental expenses. Depreciation on ail fixed assets has been changed on straight-line method at the rates and in the manner prescribed in schedule XIV to the companies Act, 1956.Low value items costing individually Rs.5000/- or less are fully depreciated in the year of purchase.

iii) Investments:

Long-term Investments are stated at cost. Provision for diminution is made only if; in the opinion of the management such decline is other than temporary.

iv) Inventories:

Stock in trade is valued scrip wise at cost based on FIFO method or estimated realizable value whichever is lower.

v) Revenue Recognition:

All the items of cost/ expenditure and revenue/ income have been accounted for on accrual basis Dividend income is recognised when the right to receive payment is established.

vi) Taxes on Income:

a) Current tax is determined as the amount of tax payable in respect of taxable income for the period.

b) Deferred tax is recognized, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on carry forward of losses unless there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

vii) Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in notes. Contingent assets are neither recognized nor disclosed in the financial statements.


Mar 31, 2012

I) Basis of Accounting:

The accounts have been prepared under historical cost convention and in accordance with applicable accounting standards and relevant disclosure requirements of the Companies Act, 1956.

Recognition of Income & Expenditure:

Income & Expenditure is recognized on accrual basis.

ii) Fixed Assets and Depreciation:

Fixed Assets are stated at cost less accumulated Depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and incidental expenses. Depreciation on all fixed assets has been changed on straight-line method at the rates and in the manner prescribed in schedule XIV to the companies Act, 1956. Low value items costing individually Rs.5000/- or less are fully depreciated in the year of purchase.

ill) Investments:

Long-term Investments are stated at cost. Provision for diminution is made only if; in the opinion of the management such decline is other than temporary.

iv) Inventories:

Stock in trade is valued scrip wise at cost based on FIFO method or estimated realizable value whichever is lower.

v) Revenue Recognition:

All the items of cost/ expenditure and revenue/ income have been accounted for on accrual basis. Dividend income is recognised when the right to receive payment is established.

vi) Taxes on Income:

a) Current tax is determined as the amount of tax payable in respect of taxable income for the period.

b) Deferred tax is recognized, subject to the consideration of prudence, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets are not recognized on carry forward of losses unless there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

vii) Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in notes. Contingent assets are neither recognized nor disclosed in the financial statements.

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X