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Moneycontrol.com ભારત | એકાઉન્ટીંગ નીતિ > Finance - Leasing & Hire Purchase > એકાઉન્ટીંગ નીતિ ને અનુસરો દ્રારા ઈન્ડિયા સિક્યુરિટીઝ - બીએસઈ: 500204, ઍનઍસઈ : INDIASEC

ઈન્ડિયા સિક્યુરિટીઝ

બીએસઈ: 500204  |  ઍનઍસઈ : INDIASEC  |  ISIN: INE134A01035  |  Finance - Leasing & Hire Purchase

શોધો ઈન્ડિયા સિક્યુરિટીઝ કનેક્શન � માર્ચ 10
એકાઉન્ટીંગ નીતિ વર્ષ : માર્ચ '11
a.  BASIS OF ACCOUNTING:
 
 The financial statements are prepared on accrual basis in accordance
 with the historical cost convention.
 
 b.  REVENUE RECOGNITION:
 
 Revenue recognition has been considered in the accounts as stated
 below:
 
 i. In respect of Finance Charges on Hire Purchase agreements, Income is
 accounted by applying implicit rate of return in the transaction on the
 declining balance of the amount financed for the period of the
 agreement.
 
 ii. Interest on all other lending, such as inter corporate deposits is
 accounted on time accrual basis.
 
 iii. Income from consultancy, advisory services are accounted as per
 the terms of contract with the customers.
 
 iv. No income is recognised in respect of non-performing assets as
 specified in the directions issued by the Reserve Bank of India in
 terms of the Non-Banking Financial (Non-Deposit Accepting or Holding)
 Companies Prudential Norms (Reserve Bank) Directions, 2007.
 
 c.  FIXED ASSETS:
 
 Fixed assets are recorded at cost less depreciation. Cost includes
 purchase cost together with all incidental costs of acquisition and
 installation.
 
 d.  BORROWING COSTS:
 
 Borrowing costs related to qualifying assets in the course of
 acquisition upto the date of commissioning is added to cost of fixed
 assets. Other borrowing costs are charged to profit and loss account.
 
 e.  INVESTMENTS:
 
 Investments are classified into current and long-term investments.
 Current investments are carried at lower of cost or net realisable
 value. Long term investments are carried at cost. Diminution in value
 of long term investments provided for when it is considered to be of
 other than temporary nature.
 
 f.  DEPRECIATION:
 
 i.  Owned Assets
 
 Depreciation is provided on straight-line basis at the rates prescribed
 under Schedule XIV of the Companies Act, 1956 on pro rata basis from
 the date of addition or till the date of deletion.
 
 ii.  Leased Assets
 
 Depreciation is provided on written down value method at the rates
 prescribed under Schedule XIV of the Companies Act, 1956. In case of
 non-performing leased assets, where 12 months have expired after the
 due date of the last instalment of leased assets, provision for NPA is
 made to the extent of written down value.
 
 The impairment of fixed assets is reviewed as per Accounting Standard
 28  Impairment of Fixed Assets.
 
 g.  STOCK ON HIRE:
 
 Stock on hire is reflected at total gross receivables (comprising of
 total value of hire purchase instalments falling due after end of the
 accounting year). Finance charges receivable on balance instalments are
 shown as unmatured finance charges under the head Current
 Liabilities.
 
 h.  TAXATION:
 
 The provision for current taxation, if any, is computed in accordance
 with the relevant tax regulations. Deferred tax is recognised on timing
 differences between the accounting and the taxable income for the year
 and quantified using the tax rates and laws enacted or substantively
 enacted as on the Balance Sheet date. Deferred tax assets are
 recognised and carried forward to the extent that there is a virtual
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets can be realised.
 
 i.  EMPLOYEE RETIREMENT BENEFITS:
 
 i. The Company''s contribution to provident fund is remitted to the
 Government based on a fixed percentage of the eligible employees''
 salary and charged to Profit and Loss Account.
 
 ii. Superannuation funded by payment to Life Insurance Corporation of
 India is charged to Profit and Loss Account.
 
 iii. Gratuity as actuarially determined and funded by payments to Life
 Insurance Corporation of India, is charged to Profit and Loss Account.
 
 iv. Long Term Compensated Absences are provided on the basis of
 actuarial valuation.
 
 j.  FOREIGN CURRENCY TRANSACTIONS
 
 Transactions in foreign currencies are recorded at the original rate of
 exchange in force at the time of occurrence of the transactions.
 Monetary items of current assets and liabilities denominated in foreign
 currency are translated at year end rates. The exchange gain or loss
 arising on translation or settlement of balances is charged to profit
 and loss account.
 
 k.  PROVISIONS AND CONTINGENT LIABILITIES:
 
 Provisions are recognised in the accounts for present probable
 obligations arising out of past events that require outflow of
 resources, the amount of which can be reliably estimated.
 
 Contingent liabilities are disclosed in respect of possible obligations
 that arise from past events but their existence is confirmed by the
 occurrence or non occurrence of one or more uncertain future events not
 wholly within the control of the company, unless likelihood of an
 outflow of resources is remote. Contingent assets are not recognised in
 the accounts, unless there is virtual certainty as to its realisation.
સ્તોત્ર: રેલીગેર ટેકનોવા


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