Mar 31, 2014
1. a) Accounting Convention
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards and
relevant presentational requirements of the Companies Act, 1956.
b) Revenue Recognition:
i) Income from Investments
Dividend Income is recognised when the company''s right to receive
payment is established.
ii) Capital Gain/Profit on Sale of Investment
Gain/Loss on Sale of Investment is considered at the time of
Sale/Redemption.
iii) Interest Income
Interest Income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable.
iv) Brokerage Income
Accounted for on accrual basis.
c) Fixed Assets and Depreciation
Tangible assets are stated at Cost less accumulated depreciation. Cost
of acquisition is inclusive of freight duties, taxes and other
incidental expenses. Depreciation is charged on WDV basis as per Income
Tax Rule. However there is no asset as on 31.03.2014.
d) Investments
The Investments are stated at cost, Diminution in value of Investments
on account of market fluctuations which are not of permanent nature
have not been provided for. Market value of mutual fund is considered
on NAV basis.
e) Accounting for Taxes on Income
The accounting treatment followed for taxes on income is to provide for
Current Tax, Deferred Tax. Current Tax is the amount of Income Tax
determined to be payable in respect of taxable income for a period.
Deferred Tax is calculated for timing difference that originates in one
period and is capable of reversal in the subsequent period.
f) Impairment of Assets:
At each balance sheet date, an assessment is made whether any
indication exists that an asset has been impaired. If any such
indication exists an impairment loss i.e. the amount by which the
carrying amount of an asset exceeds its recoverable amount is provided
in the books of account.
2. a) Segment Revenue includes Income directly identifiable with/allocable
to the segment including intersegment revenue.
b) Expenses that are directly identifiable with/allocable to segments
are considered for determining the Segment Result. The expenses which
relate to the Company as a whole and not allocable to segments, are
included under "other unallocable expenditure."
c) Segment assets includes all operating assets I.e. investment and
current assets used by the segment.
d) Segment Liabilities consists of creditors and other liabilities
directly attributable to segment but does not include tax & financial
liabilities.
Mar 31, 2013
A) Accounting Convention
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards and
relevant presentational requirements of the Companies Act, 1956.
b) Revenue Recognition:
Income from Investments
Dividend Income is recognised when the company''s right to receive
payment is establised.
if Capital Gain/Profit on Sale of Investment
Gain/Loss on Sale of Investment is considered at the time of
Sale/Redemption.
iii) Interest Income
Interest Income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable.
iv) Brokerage Income
Accounted for on accrual basis.
c) Fixed Aassets and Depreciation
Tangible assets are stated at Cost less accumulated depreciation. Cost
of acquisition is inclusive of freight, duties, taxes and other
incidental expenses. Depreciation is''charged en WDV basis as per Income
Tax Rule.
d) Investments
The Investments are stated at cost, Diminution in value of Investments
on account of market fluctuations which are not of permanent nature
have not been provided for. Market value of mutual fund is considered
on NAV basis.
e) Accounting for Taxes on Income
The accounting treatment followed for taxes on income is to provide for
Current Tax, Deferred Tax. Current Tax is the amount of Income Tax
determined to be payable in respect of taxable income for a period .
Deferred Tax is calculated for timing difference that originates in one
period and is capable: of reversal in the subsequent period.
f) Impairment of Assets:
At each balance sheet date, an assessment is made whether any
indication exists that an asset has been impaired. If any such
indication exists, an impairment loss I.e. the amount by which the
carrying amount of an asset exceeds its recoverable amount is provided
in the books of account.
Mar 31, 2012
A) Accounting Convention
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards and
relevant presentational requirements of the Companies Act, 1956.
b) Revenue Recognition:
i) Income from Investments
Dividend Income is recognised when the company's right to receive
payment is establised.
ii) Capital Gain/Profit on Sale of Investment
Gain/Loss on Sale of Investment is considered at the time of
Sale/Redemption.
iii) Interest Income
Interest Income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable.
iv) Brokerage Income
Accounted for on accrual basis.
c) Fixed Aassets and Depreciation
Tangible assets are stated at Cost less accumulated depreciation. Cost
of acquisition is inclusive of freight, duties, taxes and other
incidental expenses. Depreciation is charged on WDV basis as per Income
Tax Rule.
d) Investments
The Investments are stated at cost, Diminution in value of Investments
on account of market fluctuations which are not of permanent nature
have not been provided for. Market value of mutual fund is considered
on NAV basis.
e) Accounting for Taxes on Income
The accounting treatment followed for taxes on income is to provide for
Current Tax, Deferred Tax. Current Tax is the amount of Income Tax
determined to be payable in respect of taxable income for a period .
Deferred Tax is calculated for timing difference that originates in one
period and is capable of reversal in the subsequent period.
f) Impairment of Assets:
At each balance sheet date, an assessment is made whether any
indication exists that an asset has been impaired. If any such
indication exists, an impairment loss I.e. the amount by which the
carrying amount of an asset exceeds its recoverable amount is provided
in the books of account.
Mar 31, 2011
A) Accounting Convention
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards and
relevant presentational requirements of the Companies Act, 1956.
b) Revenue Recognition:
i) Income from Investments
Dividend Income is recognised when the company's right to receive
payment is established.
II) Capital Gain/Profit on Sale of Investment
Gain/Loss on Sale of Investment is considered at the time of
Sale/Redemption.
iii) Interest Income
Interest Income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable.
iv) Brokerage Income
Accounted for on accrual basis.
c) Fixed Assets and Depreciation
Tangible assets are stated at Cost less accumulated depreciation. Cost
of acquisition is inclusive of freight, duties, taxes and other
incidental expenses. Depreciation is charged on WDV basis as per Income
Tax Rule.
d) Investments
The Investments are stated at cost, Diminution in value of Investments
on account of market fluctuations which are not of permanent nature
have not been provided for. Market value of mutual fund is considered
on NAV basis.
e) Accounting for Taxes on Income
The accounting treatment followed for taxes on income is to provide for
Current fax, Deferred Tax. Current
Tax is the amount of Income Tax determined to be payable in respect of
taxable income for a period. Deferred Tax is calculated for timing
difference that originates in one period and is capable of reversal in
the subsequent period.
f) Impairment of Assets:
At each balance sheet date, an assessment is made whether any
indication exists that an asset has been impaired. If any such
indication exists, an impairment loss I.e. the amount by which the
carrying amount of an asset exceeds its recoverable amount is provided
in the books of account.
Mar 31, 2010
A) Accounting Convention
The financial statements are prepared under the historical cost
convention, in accordance with applicable accounting standards and
relevant presentational requirements of the Companies Act, 1956.
b) Revenue Recognition: i) Income from Investments
Dividend Income is recognised when the companys right to receive
payment is establised.
ii) Capital Gain/Profit on Sale of Investment
Gain/Loss on Sale of Investment is considered at the time of
Sale/Redemption.
iii) Interest Income
Interest Income is recognised on a time proportion basis taking into
account the amount outstanding and the rate applicable.
iv) Brokerage Income
Accounted for on accrual basis.
c) Fixed Aassets and Depreciation
Tangible assets are stated at Cost less accumulated depreciation. Cost
of acquisition is inclusive of freight, duties, taxes and other
incidental expenses. Depreciation is charged on WDV basis as per Income
Tax Rule.
d) Investments
The Investments are stated at cost, Diminution in value of Investments
on account of market fluctuations which are not of permanent nature
have not been provided for. Market value of mutual fund is considered
on NAV basis.
e) Accounting for Taxes on Income
The accounting treatment followed for taxes on income is to provide for
Current Tax, Deferred Tax. Current Tax is the amount of Income Tax
determined to be payable in respect of taxable income for a period .
Deferred Tax is calculated for timing difference that originates in one
period and is capable of reversal in the subsequent period.
f) Impairment of Assets:
At each balance sheet date, an assessment is made whether any
indication exists that an asset has been impaired. If any such
indication exists, an impairment loss I.e. the amount by which the
carrying amount of an asset exceeds its recoverable amount is provided
in the books of account.
SIGMENT ACCOUNTING POLICIES:
a) Sigment Revenue includes Income directly identifiable with/allocable
to the segment including intersegment revenue.
b) Expenses that are directly identifiable with/allocable to segments
are considered tor determining the Segment Result. The expenses which
relate to the Company as a whole and not allocable to segments, are
included under "other unallocable expenditure."
c) Segment assets includes all operating assets I.e. investment and
current assets used by the segment.
d) Segment Liabilities consists of creditors and other liabilities
directly attributable to segment but does not include tax & financial
liabilities.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article