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Accounting Policies of Delta Industrial Resources Ltd. Company

Mar 31, 2013

The accounts are prepared in accordance with the applicable accounting standards of the Institute of Chartered Accountants of India and relevant presentation requirements of the Companies Act, 1956.

1.1 Recognition of Income & Expenditure

a) Income on account of dividend is recognised on receipt basis and all other incomes are recognised and accounted on accrual basis

b) Items of expenditures are recognised on accrual basis.

1.2 Valuation of Investments:

The stock of shares held, as investments have been valued at cost being purchase price and direct costs.

1.3 Treatment of Contingent Liabilities:

Contingent Liabilities are not provided for in the accounts and are shown, if any, separately.

1.4 Provision for income tax is made on the assessable income at the tax rate applicable to the relevant assessment year. Deferred income taxes are recognised for the future tax consequences attributable to timing difference using the tax rates and laws that have been enacted or substantially enacted as of the Balance Sheet date. Deferred tax assets are recognized and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized. However, deferred tax arising from unabsorbed and carry forward losses and depreciation are recognised only when there is virtual certainty supported by convincing evidence that such assets will be realised.


Mar 31, 2011

The accounts are prepared in accordance with the applicable accounting standards of the Institute of Chartered Accountants of India and relevant presentation requirements of the Companies Act, 1956.

1. Recognition of Income & Expenditure

- All incomes except dividend income are recognized and accounted on accrual basis.

- Item of expenditures are recognized on accrual basis.

2. Valuation of Inventories:

The stock of Shares held, as investments have been valued at cost being purchase price and direct costs.

3. Treatment of Contingent Liabilities:

Contingent Liabilities are not provided for in the accounts and are shown, if any, separately.

 
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