Mar 31, 2015
A. Basis of preparation of Financial Statements
The accompanying financial statements are prepared in accordance with
Indian Generally Accepted Accounting Principles (GAAP) under the
historical cost convention, on the basis of a going concern basis, while
revenue, expenses, assets and Liabilities accounted/recognized on
accrual basis. GAAP comprises mandatory accounting as prescribed under
Section 133 of the Companies Act, 2013 ('the Act') read with Rule 7 of
the Companies (Accounts) Rules, 2014, the provisions of the Act (to the
extent notified) and guidelines issued by the Securities and Exchange
Board of India (SEBI) Accounting policies are consistently applied
except where a newly issued accounting standard is initially adopted or
a revision to an existing accounting standard requires a change in the
accounting policy hitherto in use. Management evaluates all recently
issued or revised accounting standards on an ongoing basis.
b. Use of Estimates
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumptions that affect the required amounts of assets and
liabilities and disclosure of contingent liabilities at the date of the
financial statements and the results of operations during the reporting
period. Although these estimates are based upon management's best
knowledge of current events and actions, actual results could differ
from these estimates.
c. Revenue Recognition
Revenue is recognized to the extent that it is probable that the
economic benefits will flow to the Company and revenue can be reliably
measured.
d. Fixed Assets
Fixed Assets are stated at cost less accumulated depreciation. Cost
comprises the purchase price, freight, duties, taxes and any
attributable cost of bringing the asset to its working condition for
its intended use.
e. Depreciation
Depreciation on fixed assets has been provided on straight-line method
based on useful life of asset specified in Schedule II of the Companies
Act, 2013 on pro-rata basis.
f. Investments
Long term Investments are stated at cost. The short term investments of
the parent company are valued and carried at cost or fair value
whichever is lower. In case of sale of investments, the gain / loss
brought into the books of account.
g. Borrowing costs:
Borrowing costs that are directly attributable to the acquisition or
the construction of a qualifying asset is capitalized for the period
until the asset is ready for its intended use. A qualifying asset is
one that necessarily takes substantial period of time i.e more than 12
months to get ready for intended use. All other borrowing costs are
charged to revenues
h. Income Tax
i. Current tax :
Current income tax is measured at the amount expected to be paid to the
tax authorities in accordance with the Indian Income Tax Act, 1961.
ii. Deferred tax :
Deferred income taxes is recognized, subject to the consideration of
prudence on timing differences, being the difference between taxable
income and accounting income that originate in one period and are
capable of reversal in one or more subsequent periods. Deferred tax is
measured based on the tax rates and the tax laws enacted or
substantively enacted at the balance sheet date.
Deferred tax assets are recognized only to the extent that there is
reasonable certainty that sufficient future taxable income will be
available against which such deferred tax assets can be realized. Where
the Company has carry forward of unabsorbed depreciation or tax losses
deferred tax assets are recognized only if it is virtually certain
backed by convincing evidence that such deferred tax assets can be
realized against future taxable profits.
i. Earnings per share
Basic earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders by the weighted
average number of equity shares outstanding during the period.
j. Provisions
A Provision is recognized when the Company has a present obligation as
a result of past event i.e it is probable that an outflow of resources
will be required to settle the obligation in respect of which a
reliable estimate can be made. Provisions are not discounted to its
present value and are determined based on best estimate required to
settle the obligation at the balance sheet date. These are reviewed at
each balance sheet date and adjusted to reflect the current best
estimates.
k. Cash Flow Statement:
Cash Flow Statement has been prepared under indirect method as per the
Accounting Standard-3 "Cash Flow Statement" .
l. Cash and cash equivalents
Cash and cash equivalents comprise cash and cash on deposit with banks
and corporations. The Company considers all highly liquid investments
with a remaining maturity at the date of purchase of three months or
less and that are readily convertible to known amounts of cash to be
cash equivalents.
Mar 31, 2014
1. Basis of preparation of financial statements
The accompanying financial statements are prepared in accordance with
Indian Generally Accepted Accounting Principles (GAAP) under the
historical cost con- vention, on the basis of a going concern basis,
while revenue, expenses, assets and Liabilities accounted/recognized on
accrual basis. GAAP comprises mandatory accounting standards issued by
the Institute of Chartered Accountants of India (ICAI), the provisions
of the Companies Act, 1956. Accounting policies are consis- tently
applied except where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard requires a
change in the account- ing policy hitherto in use.
2. Use of Estimates
The preparation of financial statements are in conformity with GAAP
requires Man- agement to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent assets and liabilities as at the date of the financial
statements and reported amounts of income and expenses during the
period Examples of such estimates include provisions for doubtful
debts, future obligations under retirement benefit plans, income taxes,
post-sales customer support and the useful lives of fixed assets and
intangible as- sets.
3. Revenue Recognition
On time-and material contracts, revenue is recognized as the related
services are rendered Provision for estimated losses, if any, on
uncompleted contracts are re- corded in the period in which such losses
become probable based on the current contract estimates. Annual
Technical Services revenue and revenue from fixed price maintenance
contracts are recognized proportionately over the period in which
services are rendered Revenue from the sale of products for software
applications is recognized on transfer of the products to the users.
4. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
5. Fixed Assets, intangible assets and capital work-in-progress
Fixed Assets are stated at cost, less accumulated depreciation. All
direct costs are capitalized until fixed assets are ready for use
including taxes, duties, freight and other incidental expenses relating
to acquisition and installation. Capital work-in- progress comprises
outstanding advances paid to acquire fixed assets, and the cost of
fixed assets that are not yet ready for their intended use at the
balance sheet date. Intangible assets are recorded at the consideration
paid for acquisition.
6. Depreciation and amortization
Depreciation on fixed assets is applied on straight-line method,
pro-rata for the period of usage, in accordance with the rates
prescribed under schedule XIV of the Companies Act, 1956.
7. Employee Benefits
Liability for employee benefits, both short term and long term, for
present and past services which are due as per the terms of employment
are recorded in ac- cordance with Accounting Standard (AS) 15 (revised)
"Employee Benefits " issued by the Institute of Chartered Accountants
of India.
8. Investments
Long term quoted investments are stated at cost & all other investments
are car- ried at lower of cost or fair value.
9. Taxes on Income
Income taxes are computed using the tax effect accounting method, where
taxes are accrued in the same period in which related revenue and
expenses arise.
Deferred tax is recognized on timing difference being the difference
between tax- able incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
Deferred tax is measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred tax assets are recognized and carried forward only to the
extent that there is a reasonable/virtual certainty that sufficient
future tax- able income will be available against which such deferred
tax assets can be real- ized
10. Earnings per Share
In determining earnings per share, the company considers the net profit
after tax expense. The number of shares used in computing basic
earnings per share is the weighted average shares outstanding during
the period.
11. Cash flow statement
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing and
financing activities of the company are segre- gated
Mar 31, 2013
1. Basis of preparation of financial statements
The accompanying financial statements are prepared in accordance with
Indian Generally Accepted Accounting Principles (GAAP) under the
historical cost convention, on the basis of a going concern basis,
while revenue, expenses, assets and Liabilities accounted/ recognized
on accrual basis. GAAP comprises mandatory accounting standards issued
by the Institute of Chartered Accountants of India (ICAI), the
provisions of the Companies Act, 1956. Accounting policies are
consistently applied except where a newly issued accounting standard is
initially adopted or a revision to an existing accounting standard
requires a change in the accounting policy hitherto in use.
2. Use of Estimates
The preparation of financial statements are in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent assets and liabilities as at the date of the financial
statements and reported amounts of income and expenses during the
period. Examples of such estimates include provisions for doubtful
debts, future obligations under retirement benefit plans, income taxes,
post-sales customer support and the useful lives of fixed assets and
intangible assets.
3. Revenue Recognition
On time-and material contracts, revenue is recognized as the related
services are rendered. Provision for estimated losses, if any,s on
uncompleted contracts are recorded in the period in which such losses
become probable based on the current contract estimates. Annual
Technical Services revenue and revenue from fixed price maintenance
contracts are recognized proportionately over the period in which
services are rendered. Revenue from the sale of products for software
applications is recognized on transfer of the products to the users.
4. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
5. Fixed Assets, intangible assets and capital work-in-progress
Fixed Assets are stated at cost, less accumulated depreciation. All
direct costs are capitalized until fixed assets are ready for use
including taxes, duties, freight and other incidental expenses relating
to acquisition and installation. Capital work-in-progress comprises
outstanding advances paid to acquire fixed assets, and the cost of
fixed assets that are not yet ready for their intended use at the
balance sheet date. Intangible assets are recorded at the consideration
paid for acquisition.
6. Depreciation and amortization
Depreciation on fixed assets is applied on straight-line method,
pro-rata for the period of usage, in accordance with the rates
prescribed under schedule XIV of the Companies Act, 1956.
7. Employee Benefits
Liability for employee benefits, both short term and long term, for
present and past services which are due as per the terms of employment
are recorded in accordance with Accounting Standard (AS) 15 (revised)
"Employee Benefits " issued by the Institute of Chartered Accountants
of India.
8. Investments
Long term quoted investments are stated at cost & all other investments
are carried at lower of cost or fair value.
9. Taxes on Income
Income taxes are computed using the tax effect accounting method, where
taxes are accrued in the same period in which related revenue and
expenses arise.
Deferred tax is recognized on timing difference being the difference
between taxable incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
Deferred tax is measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred tax assets are recognized and carried forward only to the
extent that there is a reasonable/ virtual certainty that sufficient
future taxable income will be available against which such deferred tax
assets can be realized.
10. Earnings per Share
In determining earnings per share, the company considers the net profit
after tax expense. The number of shares used in computing basic
earnings per share is the weighted average shares outstanding during
the period.
11. Cash flow statement
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating,investing and
financing activities of the company are segregated
Mar 31, 2012
1. Basis of preparation of financial statements
The accompanying financial statements are prepared in accordance with
Indian Generally Accepted Accounting Principles (GAAP) under the
historical cost convention, on the basis of a going concern basis,
while revenue, expenses, assets and Liabilities accounted/recognized on
accrual basis. GAAP comprises mandatory accounting standards issued by
the Institute of Chartered Accountants of India (ICAI), the provisions
of the Companies Act, 1956. Accounting policies are consistently
applied except where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard requires a
change in the accounting policy hitherto in use.
2. Use of Estimates
The preparation of financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent assets and liabilities as at the date of the financial
statements and reported amounts of income and expenses during the
period. Examples of such estimates include provisions for doubtful
debts, future obligations under retirement benefit plans, income taxes,
post-sales customer support and the useful lives of fixed assets and
intangible assets.
3. Revenue Recognition
On time-and material contracts, revenue is recognized as the related
services are rendered. Provision for estimated losses, if any on
uncompleted contracts are recorded in the period in which such losses
become probable based on the current contract estimates. Annual
Technical Services revenue and revenue from fixed price maintenance
contracts are recognized proportionately over the period in which
services are rendered. Revenue from the sale of products for software
applications is recognized on transfer of the products to the users.
4. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
5. Fixed Assets, intangible assets and capital work-in-progress
Fixed Assets are stated at cost, less accumulated depreciation. All
direct costs are capitalized until fixed assets are ready for use
including taxes, duties, freight and other incidental expenses relating
to acquisition and installation. Capital work-in-progress comprises
outstanding advances paid to acquire fixed assets, and the cost of
fixed assets that are not yet ready for their intended use at the
balance sheet date. Intangible assets are recorded at the consideration
paid for acquisition.
6. Depreciation and amortization
Depreciation on fixed assets is applied on straight-line method,
pro-rata for the period of usage, in accordance with the rates
prescribed under schedule XIV of the Companies Act, 1956.
7. Employee Benefits
Liability for employee benefits, both short term and long term, for
present and past services which are due as per the terms of employment
are recorded in accordance with Accounting Standard (AS) 15 (revised)
"Employee Benefits " issued by the Institute of Chartered Accountants
of India.
8. Investments
Long term quoted investments are stated at cost & all other investments
are carried at lower of cost or fair value.
9. Taxes on Income
Income taxes are computed using the tax effect accounting method, where
taxes are accrued in the same period in which related revenue and
expenses arise.
Deferred tax is recognized on timing difference being the difference
between taxable incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
Deferred tax is measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred tax assets are recognized and carried forward only to the
extent that there is a reasonable/virtual certainty that sufficient
future taxable income will be available against which such deferred tax
assets can be realized.
10. Earnings per Share
In determining earnings per share, the company considers the net profit
after tax expense. The number of shares used in computing basic
earnings per share is the weighted average shares outstanding during
the period.
11. Cash flow statement
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing
and financing activities of the company are segregated.
Mar 31, 2011
1. Basis of preparation of financial statements
The accompanying financial statements are prepared in accordance with
Indian Generally Accepted Accounting Principles (GAAP) under the
historical cost convention, on the basis of a going concern basis,
while revenue, expenses, assets and Liabilities accounted/recognized on
accrual basis. GAAP comprises mandatory accounting standards issued by
the Institute of Chartered Accountants of India (ICAI), the provisions
of the Companies Act, 1956. Accounting policies are consistently
applied except where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard requires a
change in the accounting policy hitherto in use.
2. Use of Estimates
The preparation of financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent assets and liabilities as at the date of the financial
statements and reported amounts of income and expenses during the
period. Examples of such estimates include provisions for doubtful
debts, future obligations under retirement benefit plans, income taxes,
post-sales customer support and the useful lives of fixed assets and
intangible assets.
3. Revenue Recognition
On time-and material contracts, revenue is recognized as the related
services are rendered. Provision for estimated losses, if any on
uncompleted contracts are recorded in the period in which such losses
become probable based on the current contract estimates. Annual
Technical Services revenue and revenue from fixed price maintenance
contracts are recognized proportionately over the period in which
services are rendered. Revenue from the sale of products for software
applications is recognized on transfer of the products to the users.
4. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
5. Fixed Assets, intangible assets and capital work-in-progress
Fixed Assets are stated at cost, less accumulated depreciation. All
direct costs are capitalized until fixed assets are ready for use
including taxes, duties, freight and other incidental expenses relating
to acquisition and installation. Capital work-in-progress comprises
outstanding advances paid to acquire fixed assets, and the cost of
fixed assets that are not yet ready for their intended use at the
balance sheet date. Intangible assets are recorded at the consideration
paid for acquisition.
6. Depreciation and amortization
Depreciation on fixed assets is applied on straight-line method, pro-
rata for the period of usage, in accordance with the rates prescribed
under schedule XIV of the Companies Act, 1956.
7. Employee Benefits
Liability for employee benefits, both short term and long term, for
present and past services which are due as per the terms of employment
are recorded in accordance with Accounting Standard (AS) 15 (revised)
"Employee Benefits " issued by the Institute of Chartered
Accountants of India.
8. Investments
Long term quoted investments are stated at cost & all other investments
are carried at lower of cost or fair value.
9. Taxes on Income
Income taxes are computed using the tax effect accounting method, where
taxes are accrued in the same period in which related revenue and
expenses arise.
Deferred tax is recognized on timing difference being the difference
between taxable incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
Deferred tax is measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred tax assets are recognized and carried forward only to the
extent that there is a reasonable/virtual certainty that sufficient
future taxable income will be available against which such deferred tax
assets can be realized.
10. Earnings per Share
In determining earnings per share, the company considers the net profit
after tax expense. The number of shares used in computing basic
earnings per share is the weighted average shares outstanding during
the period.
11. Cash flow statement
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing
and financing activities of the company are segregated
Mar 31, 2010
1. Basis of preparation of financial statements
The accompanying financial statements are prepared in accordance with
Indian Generally Accepted Accounting Principles (GAAP) under the
historical cost convention, on the basis of a going concern basis,
while revenue, expenses, assets and Liabilities accounted/recognized on
accrual basis. GAAP comprises mandatory accounting standards issued by
the Institute of Chartered Accountants of India (ICAI), the provisions
of the Companies Act, 1956. Accounting policies are consistently
applied except where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard requires a
change in the accounting policy hitherto in use.
2. Use of Estimates
The preparation of financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent assets and liabilities as at the date of the financial
statements and reported amounts of income and expenses during the
period. Examples of such estimates include provisions for doubtful
debts, future obligations under retirement benefit plans, income taxes,
post-sales customer support and the useful lives of fixed assets and
intangible assets.
3. Revenue Recognition
On time-and material contracts, revenue is recognized as the related
services are rendered. Provision for estimated losses, if any on
uncompleted contracts are recorded in the period in which such losses
become probable based on the current contract estimates. Annual
Technical Services revenue and revenue from fixed price maintenance
contracts are recognized proportionately over the period in which
services are rendered. Revenue from the sale of products for software
applications is recognized on transfer of the products to the users.
4. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
5. Fixed Assets, intangible assets and capital work-in-progress
Fixed Assets are stated at cost, less accumulated depreciation. All
direct costs are capitalized until fixed assets are ready for use
including taxes, duties, freight and other incidental expenses relating
to acquisition and installation. Capital work-in-progress comprises
outstanding advances paid to acquire fixed assets, and the cost of
fixed assets that are not yet ready for their intended use at the
balance sheet date. Intangible assets are recorded at the consideration
paid for acquisition.
6. Depreciation and amortization
Depreciation on fixed assets is applied on straight-line method,
pro-rata for the period of usage, in accordance with the rates
prescribed under schedule XIV of the Companies Act, 1956.
7. Employee Benefits
Liability for employee benefits, both short term and long term, for
present and past services which are due as per the terms of employment
are recorded in accordance with Accounting Standard (AS) 15 (revised)
"Employee Benefits " issued by the Institute of Chartered
Accountants of India.
8. Investments
Long term quoted investments are stated at cost & all other investments
are carried at lower of cost or fair value.
9. Taxes on Income
Income taxes are computed using the tax effect accounting method, where
taxes are accrued in the same period in which related revenue and
expenses arise.
Deferred tax is recognized on timing difference being the difference
between taxable incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
Deferred tax is measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred tax assets are recognized and carried forward only to the
extent that there is a reasonable/virtual certainty that sufficient
future taxable income will be available against which such deferred tax
assets can be realized.
10. Earnings per Share
In determining earnings per share, the company considers the net profit
after tax expense. The number of shares used in computing basic
earnings per share is the weighted average shares outstanding during
the period.
11. Cash flow statement
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing
and financing activities of the company are segregated.
Mar 31, 2009
1. Basis of preparation of financial statements
The accompanying financial statements are prepared in accordance with
Indian Generally Accepted Accounting Principles (GAAP) under the
historical cost convention, on the basis of a going concern basis,
while revenue, expenses, assets and Liabilities accounted/recognized on
accrual basis. GAAP comprises mandatory accounting standards issued by
the Institute of Chartered Accountants of India (ICAI), the provisions
of the Companies Act, 1956. Accounting policies are consistently
applied except where a newly issued accounting standard is initially
adopted or a revision to an existing accounting standard requires a
change in the accounting policy hitherto in use.
2. Use of Estimates
The preparation of financial statements in conformity with GAAP
requires Management to make estimates and assumptions that affect the
reported balances of assets and liabilities and disclosures relating to
contingent assets and liabilities as at the date of the financial
statements and reported amounts of income and expenses during the
period. Examples of such estimates include provisions for doubtful
debts, future obligations under retirement benefit plans, income taxes,
post-sales customer support and the useful lives of fixed assets and
intangible assets.
3. Revenue Recognition
On time-and material contracts, revenue is recognized as the related
services are rendered. Provision for estimated losses, if any on
uncompleted contracts are recorded in the period in which such losses
become probable based on the current contract estimates. Annual
Technical Services revenue and revenue from fixed price maintenance
contracts are recognized proportionately over the period in which
services are rendered. Revenue from the sale of products for software
applications is recognized on transfer of the products to the users.
4. Expenditure
Expenses are accounted on accrual basis and provisions are made for all
known losses and liabilities.
5. Fixed Assets, intangible assets and capital work-in-progress
Fixed Assets are stated at cost, less accumulated depreciation. All
direct costs are capitalized until fixed assets are ready for use
including taxes, duties, freight and other incidental expenses relating
to acquisition and installation. Capital work-in-progress comprises
outstanding advances paid to acquire fixed assets, and the cost of
fixed assets that are not yet ready for their intended use at the
balance sheet date. Intangible assets are recorded at the consideration
paid for acquisition.
6. Depreciation and amortization
Depreciation on fixed assets is applied on straight-line method,
pro-rata for the period of usage, in accordance with the rates
prescribed under schedule XIV of the Companies Act, 1956.
7. Employee Benefits
Liability for employee benefits, both short term and long term, for
present and past services which are due as per the terms of employment
are recorded in accordance with Accounting Standard (AS) 15 (revised)
"Employee Benefits " issued by the Institute of Chartered
Accountants of India.
8. Investments
Long term quoted investments are stated at cost & all other investments
are carried at lower of cost or fair value.
9. Taxes on Income
Income taxes are computed using the tax effect accounting method, where
taxes are accrued in the same period in which related revenue and
expenses arise.
Deferred tax is recognized on timing difference being the difference
between taxable incomes and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods.
Deferred tax is measured using the tax rates and tax laws that have
been enacted or substantively enacted by the Balance Sheet date.
Deferred tax assets are recognized and carried forward only to the
extent that there is a reasonable/virtual certainty that sufficient
future taxable income will be available against which such deferred tax
assets can be realized.
10. Earnings per Share
In determining earnings per share, the company considers the net profit
after tax expense. The number of shares used in computing basic
earnings per share is the weighted average shares outstanding during
the period.
11. Cash flow statement
Cash flows are reported using the indirect method, whereby net profit
before tax is adjusted for the effects of transactions of a non-cash
nature and any deferrals or accruals of past or future cash receipts or
payments. The cash flows from regular revenue generating, investing
and financing activities of the company are segregated.