Mar 31, 2015
1. Basis of preparation of Financial Statements
The financial statement has been prepared on historical cost convention
and in accordance with normally accepted accounting principles and
applicable accounting standards.
2. Revenue Recognition and other policies
a) The company follows mercantile system of accounting.
b) Revenue / Income and cost /expenses are generally accounted for on
accrual basis as they are earned or incurred.
c) Income from Information Technology and Computer Education is
accounted and credited to income in the period of invoices raised to
the students.
d) Technical know-how fees from new franchisee centers are accounted
for in the year in which agreement is entered into.
e) Franchisee centers operational expenses are accounted in proportion
to the bills raised.
f) Sales of educational Course Materials are recognised on the basis of
requisitions.
3. Fixed Assets
Fixed assets are stated at cost less depreciation. The cost of assets
comprises of purchase price and any direct cost attributable to its
acquisition or bringing the assets to working condition or intended
use.
4. Depreciation
Depreciation is charged on a pro-rata basis on the Straight Line Method
as per the rates and in the manner prescribed under the Schedule II to
the Companies Act, 2013.
Depreciation on fixed assets sold, discarded or demolished during the
year is being provided at their respective rates upto the date on which
such assets are sold, discarded or demolished.
5. Inventories
Closing stock of Educational Course material & Books is valued at cost
of acquisition. The company is in information technology business and
is holding stock of courseware material and computer hardware &
software's and it is considered to realize at least the value at which
they are stated in the books.
6. Investments
Investments are Non Current in nature and are stated at cost & any
decline other than temporary in the value of such investments is
charged to the profit & loss account.
7. Miscellaneous Expenditure
The Company does not have any miscellaneous expenditure.
8. Employee Benefits
Contributions to Provident Fund are accounted on actual liabilities
basis. At present there is no employee in the company who has completed
5 years or more, so the requirements of Accounting Standard-15 are not
applicable. According to the management, the compensation & benefits
payable to employees who have left the service were settled at the time
they have left.
9. Taxation
Provision for tax is made for both current and deferred taxes. Current
tax is provided on the basis of taxable income computed in accordance
with the provisions of Income Tax Act, 1961. Deferred tax Assets and
liabilities arising on account of timing differences and which are
capable of reversal in subsequent periods are recognised using the tax
rates and tax laws that have been enacted or substantively enacted.
Mar 31, 2014
1. Basis of preparation of Financial Statements
The financial statement has been prepared on historical cost convention
and in accordance with normally accepted accounting principles and
applicable accounting standards.
2. Revenue Recognition and other policies
a) The company follows mercantile system of accounting.
b) Revenue / Income and cost /expenses are generally accounted for on
accrual basis as they are earned or incurred.
c) Income from Information Technology and Computer Education is
accounted and credited to income in the period of invoices raised to
the students.
d) Technical know-how fees from new franchisee centers are accounted
for in the year in which agreement is entered into.
e) Franchisee centers operational expenses are accounted in proportion
to the bills raised.
f) Sales of educational Course Materials are recognised on the basis of
requisitions.
3. Fixed Assets
Fixed assets are stated at cost less depreciation. The cost of assets
comprises of purchase price and any direct cost attributable to its
acquisition or bringing the assets to working condition or intended
use.
4. Depreciation
Depreciation is provided on straight-line method at the rate specified
in Schedule - XIV of the Companies Act, 1956. In respect of additions
to fixed assets, depreciation is being calculated on a pro-rata basis
from the date of such addition.
Depreciation on fixed assets sold, discarded or demolished during the
year is being provided at their respective rates upto the date on which
such assets are sold, discarded or demolished.
5. Inventories
Closing stock of Educational Course material & Books is valued at cost
of acquisition. The company is in information technology business and
is holding stock of courseware material and computer hardware &
software''s and it is considered to realize at least the value at which
they are stated in the books.
6. Investments
Investments are Non Current in nature and are stated at cost & any
decline other than temporary in the value of such investments is
charged to the profit & loss account.
7. Miscellaneous Expenditure
The Company does not have any miscellaneous expenditure.
8. Employee Benefits
Contributions to Provident Fund are accounted on actual liabilities
basis. At present there is no employee in the company who has completed
5 years or more, so the requirements of Accounting Standard-15 are not
applicable. According to the management, the compensation & benefits
payable to employees who have left the service were settled at the time
they have left.
9. Taxation
Provision for tax is made for both current and deferred taxes. Current
tax is provided on the basis of taxable income computed in accordance
with the provisions of Income Tax Act, 1961. Deferred tax Assets and
liabilities arising on account of timing differences and which are
capable of reversal in subsequent periods are recognised using the tax
rates and tax laws that have been enacted or substantively enacted.
Mar 31, 2011
1. Basis of preparation of Financial Statements
The financial statement has been prepared on historical cost convention
and in accordance with normally accepted accounting principles and
applicable accounting standards except as stated otherwise elsewhere.
2. Revenue Recognition and other policies
a) The company follows mercantile system of accounting except otherwise
stated.
b) Revenue / Income and cost /expenses are generally accounted for on
accrual basis as they are earned or incurred, except as stated
otherwise elsewhere.
c) Income from Information Technology and Computer Education is
accounted and credited to income in the period of invoices raised to
the students.
d) Technical know-how fees from new franchisee centers are accounted
for in the year in which agreement is entered into.
e) Franchisee centers operational expenses are accounted in proportion
to the bills raised.
f) Sales of educational Course Materials are recognised on the basis of
requisitions.
3. Fixed Assets
Fixed assets are stated at cost less depreciation. The cost of assets
comprises of purchase price and any direct cost attributable to its
acquisition or bringing the assets to working condition or intended
use.
4. Depreciation
Depreciation is provided on straight-line method at the rate specified
in Schedule - XIV of the Companies Act, 1956. In respect of additions
to fixed assets, depreciation is being calculated on a pro-rata basis
from the date of such addition.
Depreciation on fixed assets sold, discarded or demolished during the
year is being provided at their respective rates up to the date on which
such assets are sold, discarded or demolished.
5. Inventories
Closing stock of Educational Course material & Books is valued at cost
of acquisition. The company is in information technology business and
is holding stock of courseware material and computer hardware &
software's and it is considered to realize at least the value at which
they are stated in the books.
6. Investments
Investments are Long Term in nature and are stated at cost & any
decline other than temporary in the value of such investments is
charged to the profit & loss account.
7. Miscellaneous Expenditure
The Company does not have any miscellaneous expenditure.
8, Employee Benefits
Contributions to Provident Fund are accounted on actual liabilities
basis. At present there is no employee in the company who has completed
5 years or more, so the requirements of Accounting Standard-15 are not
applicable. According to the management, the compensation & benefits
payable to employees who have left the service were settled at the time
they have left.
9. Taxation
Provision for tax is made for both current and deferred taxes. Current
tax is provided on the basis of taxable income computed in accordance
with the provisions of Income Tax Act, 1961. Deferred tax Assets and
liabilities arising on account of timing differences and which are
capable of reversal in subsequent periods are recognised using the tax
rates and tax laws that have been enacted or substantively enacted.
Mar 31, 2010
1. Basis of preparation of Financial Statements
The financial statement has been prepared on historical cost convention
and in accordance with normally accepted accounting principles and
applicable accounting standards except as stated otherwise elsewhere.
2. Revenue Recognition and other policies
a) The company follows mercantile system of accounting except otherwise
stated.
b) Revenue / Income and cost /expenses are generally accounted for on
accrual basis as they are earned or incurred, except as stated
otherwise elsewhere.
c) Income from Information Technology and Computer Education is
accounted and credited to income in the period of invoices raised to
the students.
d) Technical know-how fees from new franchisee centers are accounted
for in the year in which agreement is entered into.
e) Franchisee centers operational expenses are accounted in proportion
to the bills raised.
f) Sales of educational Course Materials are recognised on the basis of
requisitions.
3. Fixed Assets.
Fixed assets are stated at cost less depreciation. The cost of assets
comprises of purchase price , and any direct cost attributable to its
acquisition or bringing the assets to working condition or intended
use.
4. Depreciation ... .
Depreciation is provided on straight-line method at the rate specified
in Schedule - XIV of the Companies Act, 1956. In respect of additions
to fixed assets, depreciation is being calculated on a pro-rata basis
from the date of such addition.
Depreciation on fixed assets sold, discarded or demolished during the
year is being provided at their respective rates upto the date on which
such assets are sold, discarded or demolished.
5. Inventories
Closing stock of Educational Course material & Books is valued at cost
of acquisition. The company is in information technology business and
is holding stock of courseware material and computer hardware &
softwares and it is considered to realize at least the value at which
they are stated in the books.
6. Investments
Investments are Long Term in nature and are stated at cost & any
decline other than temporary in the value of such .investments is
charged to the profit & loss account.
7. Miscellaneous Expenditure
The Company doesvhot have any miscellaneous expenditure. -; , æ,
8. Employee Benefits
Contributions to Provident Fund are accounted on actual liabilities
basis. At present there is no employee in the company who has completed
5 years or more, so the requirements of Accounting Standard-15 are not
applicable. According to the management, the compensation & benefits
payable to employees who have left the service were settled at the time
they have left
9. Taxation
Provision for tax is made for both current and deferred taxes. Current
tax is provided on the basis of taxable income computed in accordance
with the provisions of Income Tax Act, 1961. Deferred tax Assets and
liabilities arising on account of timing differences and which are
capable of reversal in subsequent periods are recognised using the tax
rates and tax laws that have been enacted or substantively enacted.
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