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Accounting Policies of Anisha Impex Ltd. Company

Mar 31, 2015

CORPORATE INFORMATION

Give a brief note on the business activity / operations of the Company and its place(s) of business.

SIGNIFICANT ACCOUNTING POLICIES

I) Basis of preparation of Financial Statements

The financial statements are prepared under the historical cost convention on the basis of going concern with revenues recognised and expenses accounted on their accrual, including provisions/adjustments for committed obligations and amounts determined as payable or receivable during the year in accordance with normally accepted principles, 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. Accounting policies not specifically referred to otherwise are consistent with accepted accounting principles.

ii) Fixed Assets:

Fixed assets are stated at cost of acquisition and subsequent improvement thereto including

iii) Depreciation:

Depreciation in the accounts is charged on straight line method at the rates and in the manner

v) Employee benefits

No Provision for gratuity has been made as no employee is entitled to this benefit.

v) Deferred tax

Deferred tax is accounted for by computing the tax effect of timing differences, which arise during the year and reverse in subsequent periods.

v,) Revenue Recognition

All revenue items and expenditure are recognised on accrual basis

The company has no due to micro and small enterprises for the period ended march 31,2014 and march 31, 2015.


Mar 31, 2014

I) Basis of preparation of Financial Statements

The financial statements are prepared under the historical cost convention on the basis of going concern with revenues recognised and expenses accounted on their accrual, including provisions/adjustments for committed obligations and amounts determined as payable or receivable during the year in accordance with normally accepted principles, 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. Accounting policies not specifically referred to otherwise are consistent with accepted accounting principles.

ii) Fixed Assets:

Fixed assets are stated at cost of acquisition and subsequent improvement thereto including

iii) Depreciation:

Depreciation in the accounts is charged on straight line method at the rates and in the manner

iv) Employee benefits

No Provision for gratuity has been made as no employee is entitled to this benefit.

v) Deferred tax

Deferred tax is accounted for by computing the tax effect of timing differences, which arise during the year and reverse in subsequent periods.

vi) Revenue Recognition

All revenue items and expenditure are recognised on accrual basis

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