Home  »  Company  »  Warner Multimedia Lt  »  Quotes  »  Accounting Policy
Enter the first few characters of Company and click 'Go'

Accounting Policies of Warner Multimedia Ltd. Company

Mar 31, 2014

1. Accounting Convention

Financial statements have been prepared on Historical Cost convention and in accordance with normally accepted accounting principles.

2. Income & Expenditure Recognition

All Income & expenditure have been accounted for on accrual basis except Dividend which is accounted for on Cash basis.

3. Fixed Assets

a. All Fixed Assets are accounted for at cost inclusive of Legal and / or installation and incidental Expenses less Depreciation.

b. Depreciation on Fixed Assets has been provided on Written-Down Value (WDV) as per rate prescribed under schedule XIV to the Companies Act, 1956.

4. Valuation of Investment in Shares:

Investments in shares & securities have been valued at Cost.

5. Gratuity:

None of the Employee has completed the service period to become eligible for payment of Gratuity.

6. Deferred Revenue Expenditures:

a. No Share issue expenses and Preliminary expenses are being written off during the year.

b. No Deferred Revenue Expenditure is being written off during the year.

7. Taxation:

Provision for taxes comprising of current tax is measured in accordance with Accounting Standard 22- "Accounting For Taxes On Income" issued by the Institute of Chartered Accountants of India:

Income Tax expenses comprise current tax and deferred tax charges to credit. The deferred tax charges to credit are recognized using current tax rates. When there are unabsorbed depreciation or carry forward losses, deferred tax assets are recognized only if the is virtual certainty of realization of such assets. Other deferred assets are recognized only to the extent there is reasonable certainly of realization in future. Deferred tax assets/liabilities are reviewed as at each balance sheet date based on developments during the year and available case law, to reassess realization/liabilities.


Mar 31, 2012

1. Accounting Convention

Financial statements have been prepared on Historical Cost convention and in accordance with normally accepted accounting principles.

2. Income & Expenditure Recognition

All Income & expenditure have been accounted for on accrual basis except Dividend which is accounted for on Cash basis.

3. Fixed Assets

a. All Fixed Assets are accounted for at cost inclusive of Legal and / or installation and incidental Expenses less Depreciation.

b. Depreciation on Fixed Assets has been provided on Written-Down Value (WDV) as per rate prescribed under schedule XIV to the Companies Act,1956.

4. Valuation of Investment in Shares :

Investments in shares & securities have been valued at Cost.

5. Gratuity :

None of the Employee has completed the service period to become eligible for payment of Gratuity.

6. Deferred Revenue Expenditures :

a. No Share issue expenses and Preliminary expenses are being written off during the year.

b. No Deferred Revenue Expenditure is being written off during the year.

7. Taxation :

Provision for taxes comprising of current tax is measured in accordance with Accounting Standard 22- "Accounting For Taxes On Income" issued by the Institute of Chartered Accountants of India :

Income Tax expenses comprise current tax and deferred tax charges to credit. The deferred tax charges to credit are recognized using current tax rates. When there are unabsorbed depreciation or carry forward losses, deferred tax assets are recognized only if the is virtual certainty of realization of such assets. Other deferred assets are recognized only to the extent there is reasonable certainly of realization in future. Deferred tax assets/liabilities are reviewed as at each balance sheet date based on developments during the year and available case law, to reassess realization/liabilities.


Mar 31, 2010

1. Accounting Convention

Financial statements have been prepared on Historical Cost convention and in accordance with normally accepted accounting principles.

2. Income & Expenditure Recognition

All Income & expenditure have been accounted for on accrual basis except Dividend which is accounted for on Cash basis.

3. Fixed Assets

a. All Fixed Assets are accounted for at cost inclusive of Legal and / or installation and incidental Expenses less Depreciation.

b. Depreciation on Fixed Assets has been provided on Written-Down Value (WDV) as per rate prescribed under schedule XIV to the Companies Act. 1956. No Provision of Depreciation of Plant & Machinery and office equipments.

4. Valuation of Investment in Shares :

Investments in shares & securities have been valued at Cost.

5. Gratuity :

None of the Employee has completed the service period to become eligible for payment of Gratuity.

6. Deferred Revenue Expenditures :

a. No Share issue expenses and Preliminary expenses are being written off during the year.

b. No Deferred Revenue Expenditure is being written off during the year.

7. Taxation :

Income Tax expenses comprise current tax and deferred tax charges to credit. The deferred tax charges to credit are recognized using current tax rates. When there are unabsorbed depreciation or carry forward losses, deferred tax assets are recognized only if the is virtual certainty of realization of such assets. Other deferred assets are recognized only to the extent there is reasonable certainly of realization in future. Deferred tax assets/ liabilities are reviewed as at each balance sheet date based on developments during the year and available case law, to reassess realization/liabilities.

 
Subscribe now to get personal finance updates in your inbox!