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Accounting Policies of Aryaman Financial Services Ltd. Company

Mar 31, 2015

1. Accounts are prepared on Historical Cost Convention accruing for incomes, expenditures, assets and liabilities.

2. a. Income from Project Consultancy is accrued considering stage wise completion of work, wherever agreed upon or feasible, otherwise it is accrued on percentage basis based on the quantum of work completed.

b. Income from Merchant Banking is accrued on percentage basis based on quantum of work completed.

3. a. FIXED ASSETS:

Fixed Assets are shown at cost less accumulated depreciation. Cost of asset includes all expenses related to acquisition of the asset.

b. DEPRECIATION:

Owned Assets: Depreciation is charged on Straight Line Method at the rates and in the manner provided in Schedule II of the Companies Act, 2013.

4. Miscellaneous Expenditure are written off as follows:

a. Preliminary Expenses, Pre-Operative Expenses (other than under (b) below) & Public Issue Expenses — Pro-rata over 5 years.

b. Pre-Operative Expenses relating to Merchant Banking Division and Registrar & Share Transfer Agents — Pro-rata over 5 years.

c. Computer Software —Equally over 3 years.

5. All Assets and liabilities are presented as current or non-current as per the company's normal operating cycle and other criteria set out in the revised schedule II of the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets of processing and the realization the company has ascertained its operating cycle as 12 months for the purpose of current / noncurrent assets / liabilities.

6. Taxes on Income.

The Company provides for deferred tax using liability method, based on tax effect of timing differences resulting from the recognition of items in the financial statements and in estimation its current income tax provision.

Deferred Tax Assets arising from temporary timing differences are recognized to the extent there is reasonable certainty that the assets can be realized in future.


Mar 31, 2014

1. Accounts are prepared on Historical Cost Convention accruing for incomes, expenditures, assets and liabilities.

2. a. Income from Project Consultancy is accrued considering stage wise completion of work, wherever agreed upon or feasible, otherwise it is accrued on percentage basis based on the quantum of work completed.

b. Income from Merchant Banking is accrued on percentage basis based on quantum of work completed.

3. a. FIXED ASSETS:

Fixed Assets are shown at cost less accumulated depreciation. Cost of asset includes all expenses related to acquisition of the asset.

b. DEPRECIATION:

Owned Assets: Depreciation is charged on Straight Line Method at the rates and in the manner provided in Schedule XIV of the Companies Act, 1956.

4. Miscellaneous Expenditure are written off as follows:

a. Preliminary Expenses, Pre-Operative Expenses (other than under (b) below) & Public Issue Expenses Pro-rata over 10 years.

b. Pre-Operative Expenses relating to Merchant Banking Division and Registrar & Share Transfer Agents Pro-rata over 5 years.

c. Computer Software —Equally over 3 years.

5. All Assets and liabilities are presented as current or non-current as per the company''s normal operating cycle and other criteria set out in the revised schedule VI of the Companies Act, 1956. Based on the nature of products and the time between the acquisition of assets of processing and the realization the company has ascertained its operating cycle as 12 months for the purpose of current / noncurrent assets / liabilities.

6. Taxes on Income.

The Company provides for deferred tax using liability method, based on tax effect of timing differences resulting from the recognition of items in the financial statements and in estimation its current income tax provision.

Deferred Tax Assets arising from temporary timing differences are recognized to the extent there is reasonable certainty that the assets can be realized in future.


Mar 31, 2013

1. Accounts are prepared on Historical Cost Convention accruing for incomes, expenditures, assets and liabilities.

2. a. Income from Project Consultancy is accrued considering stage wise completion of work, wherever agreed upon or feasible, otherwise it is accrued on percentage basis based on the quantum of work completed.

b. Income from Merchant Banking is accrued on percentage basis based on quantum of work completed.

3. a. FIXED ASSETS:

Fixed Assets are shown at cost less accumulated depreciation. Cost of asset includes all expenses related to acquisition of the asset.

b. DEPRECIATION:

Owned Assets: Depreciation is charged on Straight Line Method at the rates and in the manner provided in Schedule XIV of the Companies Act, 1956.

4. Miscellaneous Expenditure are written off as follows:

a. Preliminary Expenses, Pre-Operative Expenses (other under (b) below) & Public Issue Expenses – Pro-rata over 10 years.

b. Pre-Operative Expenses relating to Merchant Banking Division and Registrar & Share Transfer Agents – Pro-rata over 5 years.

c. Computer Software –Equally over 3 years.

5 All Assets and liabilities are presented as current or non-current as per the company''s normal operating cycle and other criteria set out in the revised schedule VI of the Companies Act, 1956. Based on the nature of products and the time between the acquisition of assets of processing and the realization the company has ascertained its operating cycle as 12 months for the purpose of current / non-current assets / liabilities.

6 Taxes on Income.

The Company provides for deferred tax using liability method, based on tax effect of timing difference resulting from the recognition of items in the financial statements and in estimating its current income tax provision.

Deferred Tax Assets arising from temporary timing differences are recognized to the extent there is reasonable certainity that the assets can be realized in future.


Mar 31, 2012

1) Accounts are prepared on Historical Cost Convention accruing for incomes, expenditures, assets and liabilities.

2)

a) Income from Project Consultancy is accrued considering stage wise completion of work, wherever agreed upon or feasible, otherwise it is accrued on percentage basis based on the quantum of work completed.

b) income from Merchant Banking is accrued on percentage basis based on quantum of work completed.

3) (a) FIXED ASSETS: .

Fixed Assets are shown at cost less accumulated depreciation. Cost of asset includes all expenses related to acquisition of the asset.

(b) DEPRECIATION:

Owned Assets: Depreciation is charged on Straight Line Method at the rates and in the manner provided in Schedule XIV of the Companies Act, 1956.

4) Miscellaneous Expenditure are written off as follows:

a) Preliminary Expenses, Pre-Operative Expenses (other than under (b) below) & Public Issue Expenses - Pro rata over 10 years.

b) Pre-Operative Expenses relating to Merchant Banking Division and Registrar & Share Transfer Agents - Pro-rata over 5 years.

c) Computer Software -Equally over 3 years.

5) All Assets and liabilities are presented as current or non-current as per the company's normal operating cycle and other criteria set out in the revised schedule VI of the Companies Act, 1956. Based on the nature of products and the time between the acquisition of assets of processing and the realization the company has ascertained its operating cycle as 12 months for the purpose of current / non-current assets / liabilities

6) Taxes on Income ,

The Company provides for deferred tax using liability method, based on tax effect of timing difference resulting from the recognition of items in the financial statements and in estimating its current income tax provision.

Deferred Tax Assets arising from temporary timing differences are recognized to the extent there is reasonable certainty that the assets can be realized in future.


Mar 31, 2010

1) Accounts are prepared on Historical Cost Convention accruing for incomes, expenditures, assets and liabilities.

2) (a) Income from Project Consultancy is accrued considering stage wise completion of work,

wherever agreed upon or feasible, otherwise it is accrued on percentage basis based on the quantum of work completed.

(b) Income from Merchant Banking is accrued on percentage basis based on quantum of work completed.

3) (a) Fixed Assets

Fixed Assets are shown at cost less accumulated depreciation. Cost of asset includes all expenses related to acquisition of the asset.

(b) Depreciation

Owned Assets. Depreciation is charged on Straight Line Method at the rates and in the manner provided in Schedule XIV of the Companies Act, 1956.

4) Miscellaneous Expenditure are written off as follows:

(a) Preliminary Expenses, Pre-Operative Expenses (other than under (b) below) & Public Issue Expenses - Pro-rata over 10 years.

(b) Pre-Operative Expenses relating to Merchant Banking Division and Registrar & Share Transfer Agents - Pro-rata over 5 years.

(c) Computer Software - Equally over 3 years.

5) Taxes on Income

The Company provides for deferred tax using liability method, based on tax effect of timing difference resulting from the recognition of items in the financial statements and in estimating its current income tax provision.

Deferred Tax Assets arising from temporary timing differences are recognized to the extent there is reasonable certainty that the assets can be realized in future.

 
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