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Haricharan Projects Ltd. Accounting Policies | Accounting Policy of Haricharan Projects Ltd.
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Accounting Policies of Haricharan Projects Ltd. Company

Mar 31, 2014

1. All assets and liabilities have been classified as current or non-current as per company's normal operating cycle and other criteria set out in the revised Schedule VI to the Companies Act, 1956. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current & non-current classification of assets & liabilities.

2. The financial statements of the Company and its subsidiaries are combined on a line-by-line basis by adding together the book values of like items of assets, liabilities, income and expenses after fully eliminating intra-company balances in accordance with the Accounting Standard 21 on" Consolidated Financial Statements"of the Companies (Accounting Standards] Rules, 2006.

3. The Consolidated Financial Statements are prepared to the extent possible using uniform accounting policies for the like transactions and other events in similar circumstances and are presented in the manner as the Company's separate financial statements

Mar 31, 2011

1. The financial statement has been prepared on the historical cost convention and with generally accepted accounting principles.

2. Items for Profit & Loss a/c have been accounted for on accrual basis.

3. Investment! have been made In unquoted shares and have been stated at cost.

4. Previous year's figures have been regrouped/ re-arranged wherever necessary.

5. The Company Is listed on Calcutta Stott Exchange.

6. There is ot employee eligible for the benefit of gratuity; hence no such provision is made.

7. In the opinion of the Board and to the best cf their knowledge and belief, the value of realization cf torrent assets in the ordinary cooise of business will not be less than the amount at which they are stated in the Balance Sheet.

8 The Company has no amount to be paid to Micro, Smal1 and Medium Enterprises in accordance with provisions of Micro, Small &. Medium Enterprises Development Act, 2005.

9. In terms of Accounting Standard 2D, the calculation of EPS is given below:

* ProFit/Lo5s) after Taxation:- [Its 434.001

* weighted Average number of Equity Shares outstanding during the year: 246,200 shares.

* Norma value of sha res:- Rs 10/ share

* BaSic a nd Diluted E PS(Ss. 0.002)

10. Accordance with the Accounting Standard AS-22 "Accounting for Taxes on Income" issued by the institute of Chartered Accountants of India, Deferred Tax Asset is not created as a matter of prudence as there is no reasonably certainty of future profit.

11, AS per information and explanation provided by the Management there are no outstanding dues of SSI undertakings as required by Schedule vt of the Companies Act, 1BS6.

12. Balance Sheet Abstract and Company's general Business Profile as required under part IV of Schedule VI to the Companies Act, 39£G is enclosed,

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