મેટ્રિક્સ
 
 
Moneycontrol.com ભારત | એકાઉન્ટીંગ નીતિ > Computers - Software Medium & Small > એકાઉન્ટીંગ નીતિ ને અનુસરો દ્રારા માસ્કોન ગ્લોબલ - બીએસઈ: 531131, ઍનઍસઈ : N.A

માસ્કોન ગ્લોબલ

બીએસઈ: 531131  |  ઍનઍસઈ : N.A  |  ISIN: INE896A01013  |  Computers - Software Medium & Small

શોધો માસ્કોન ગ્લોબલ કનેક્શન � માર્ચ 10
એકાઉન્ટીંગ નીતિ વર્ષ : જૂન '11
a) Basis of preparation of financial statements

The financial statements of Mascon Global Limited have been prepared on a historical cost convention, in accordance with the Generally Accepted Accounting Principles in India, and in compliance with the mandatory accounting standards issued by the Institute of Chartered Accountants of India (ICAI) as referred to in section 211(3C) of the Companies Act, 1956 (the Act). All items of income and expenditure having a material bearing on the financial statements have been recognised on the accrual basis.

The accounting policies applied by the Company are consistent with those used in the previous period.

(b) Use of estimates

The preparation of financial statements is in conformity with Generally Accepted Accounting principles which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period reported. Examples of such estimates are useful lives of fixed assets, percentage of completion on uncompleted contracts, income taxes, post-sales customer support and

provisions for doubtful debts. Actual results could differ from those estimates. Difference between the actual result and estimates are recognised in the period in which the results are known/materialized.

(c) Revenue recognition

Revenues from software development on a time-and-material basis are recognized as the services are performed. Revenue from fixed price contracts is recognized based on the milestones achieved as specified in the contracts, on the percentage of completion basis. Revenue from Annual Maintenance Contracts and training revenues are recognized on a pro-rata basis over the period in which such services are rendered. Interest on deployment of surplus funds is recognized using the time-proportion method based on the rates implicit in the transaction. Dividend income is recognized when the right to receive dividend is established. Incomes on account of Lease Rentals are recognized ratably on a straight-line basis over the lease term.

(d) Fixed assets

Fixed assets are stated at cost less accumulated depreciation. Cost includes all direct expenses incurred to bring an asset to working condition for its intended use. Cost also includes financing costs relating to specific borrowing(s) attributable to the acquisition or construction of fixed assets.

The cost of software purchased for use in software development and services is charged to the cost of revenues in the year of purchase.

(e) Depreciation

Depreciation is provided using the written down value method based on Schedule XIV of the Companies Act, 1956, which approximates the useful lives of the assets as estimated by management. Intangible assets are amortized over their respective individual estimated useful lives on a straight-line basis, commencing from the date when the asset is available to the Company for its use/sale.

(f) Investments

Long term

Securities intended to be held for a period exceeding one year are classified as long-term investments and are carried at cost. Adjustments/Provisions are made for any diminution in values that is, other than temporary.

Investments in Foreign Subsidiaries are expressed in Indian currency at the rate of exchange prevailing at the time when the investment was made.

(g) Work-in-progress

Work-in-progress in respect of fixed price contracts is stated at the lower of cost and net realizable value. Cost is determined using the percentage of completion method based on technical estimates made by management. Provision for estimated losses on unfinished contracts are recorded in the period in which such losses become probable based on the current contract estimates.

(h) Employee benefit plans

Employee benefit plans comprise both defined benefit and defined contribution plans.

Gratuity

The Company has an established gratuity plan for the benefit of employees based on certain eligibility criteria.

The liability for gratuity is a defined benefit plan available to all eligible employees and is provided on the basis of actuarial valuation. The benefit scheme is maintained and administered by the Life Insurance Corporation of India (LIC) and the Company has no further obligations relating to the plan beyond its periodic contributions to the LIC.

Provident Fund

Provident fund is a defined contribution plan. Eligible employees and the Company make equal periodic contributions as a percentage of the basic salary specified under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. The Company has no further obligations under the plan beyond its periodic contributions.

Leave Encashment

Leave encashment is a defined benefit plan. The Liability for unavailed leave considered to be long term is carried based on Actuarial valuation.

(i) Income Taxes

Tax expense comprises of current and deferred. Current income tax are provided for under the tax payable method, whereby all income taxes devolving upon the Company are provided for after considering all eligible allowances and rebates. Any claims by the Revenue Authorities against the Company are evaluated as regards the likelihood of their crystallizing into a liability. Accordingly, the claims are quantified to the extent accurately determinable and the provision recorded or disclosure made depending on the assessment of such likelihood.

Deferred income taxes reflect the impact of timing differences (namely the differences that arise in one accounting period and reversed in another) between the taxable income and accounting income for the year, based on the tax effect of the aggregate amount being considered. The tax effect is calculated on the accumulated timing differences at the end of an accounting period based on prevailing enacted or substantially enacted regulations. Deferred tax assets are recognised only if there is reasonable certainty that they will be realized and are reviewed for the appropriateness of their respective carrying values at each balance sheet date.

(j) Foreign currency transactions

The currency in which the Company normally transacts business is the Indian Rupee and accordingly, all items of revenue, expenditure, assets and liabilities are recorded and reported in Indian Rupees.

Revenue earned and expenditure incurred in currencies other than the Indian Rupee is recorded at the rate of exchange prevailing on the date of the transaction. Differences arising on collection or settlement of outstanding amounts are recognized in the profit and loss account.

The expenses of overseas operations met out of a foreign currency denominated account are converted in to rupees by applying the average monthly exchange rate.

Current assets and liabilities denominated in foreign currencies are re-measured as of Balance Sheet date at the prevailing exchange rates of the reporting currency and any differences is recognized in the profit and loss account.

Exchange differences attributable to the acquisition of fixed assets are adjusted to the cost of the asset.

Exchange difference on Long Term Foreign Currency Monetary items (not related to acquisition of depreciable assets) are accumulated in Foreign Currency monetary item Translation Difference Account and amortised over the balance life of the long term asset/liability or till financial year 2011, whichever is earlier.

(k) Miscellaneous expenditure

Major non-recurring expenditure is amortized over a period during which the benefit is expected to accrue (I) Borrowing cost

Borrowing cost attributed to the acquisition of assets are capitalized as part of the cost of those investments/fixed assets till the date it is put to use. Other borrowing cost is recognized as expenditure in the period in which they accrue.

(l) Prior year adjustments

Significant items of income and expenditure, which relate to prior accounting years, are accounted in the Profit & Loss Account under the head Prior year adjustments other than those occasioned by events occurring during or after the close of the year and which are treated as relatable to the current year.

(m) Cash Flow Statement

Cash Flow statement is prepared under the indirect method, with segregation between operating, financing and investing activities.

(n) Earnings per Share

Basic Earnings per Share are calculated by dividing the net profit or loss after tax for the period attributable to equity shareholders by the weighted average number of equity Shares outstanding during the period. For the purpose of calculating diluted Earnings per Share, the net profit or loss after tax for the period attributable to equity shareholders is divided by the weighted average number of shares outstanding including the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares.

(o) Provisions, Contingent Liabilities and Contingent Assets

Provision is recognized when the company has a present obligation as a result of past events, the settlement of which is expected to result in an outflow of resources and which can be measured only by using a substantial degree of estimation. Contingent Liabilities are disclosed by way of notes to the Financial Statements. Contingent Assets are neither recognized, nor disclosed.

સ્તોત્ર: રેલીગેર ટેકનોવા


ન્યૂઝ ફ્લૅશ

  • સન ફાર્મા અમેરિકામાં Imatinib Mesylate લોન્ચ
  • કારોબાર : શૅર્સ સંબધિત પ્રશ્નો પૂછવા માટે BH (SPACE) STOCK સાથે તમારું નામ અને ફોન નંબર લખીને મેસેજ કરો 51818 પર
  • કારોબાર : BH (SPACE) આપના સ્ટોકની વિગત, સાથે જ આપનું નામ લખી 51818 પર મેસેજ કરો અને અમારા ટોલ ફ્રી નંબર 1800-4190-709 પર કાૅલ કરો અને જવાબ મેળવો અમારા ખાસ શાૅ બજાર હેલ્પલાઇનમાં સોમવારથી શુક્રવાર સવારે 11.30 કલાકે
  • કારોબાર : પર્સનલ ફાઇનાન્સને લગતા તમારા કોઈ પ્રશ્ન હોય તો તમે અમને money@network18online.com પર મોકલી શકો છો. તમારા સવાલના જવાબ મની મૅનેજરમાં આપવામાં આવશે
  • કારોબાર : ચીનના આર્થિક આંકડાઓ જાન્યુઆરી Caixin ફાઈનલ મેન્યુફેક્ચરીંગ PMI 48.2 થી વધી 48.4 (MoM)
  • કારોબાર : US FDAની મંજૂરી મળી ઓરોબિન્દો ફાર્માને ડાયાબિટિશની દવા Saxagliptin માટે મંજૂરી મળી
  • કારોબાર : US FDAની મંજૂરી મળી ડો.રેડ્ડીઝને બેક્ટેરિયલ ઈન્ફેક્શનની દવા ડોક્સીસાયક્લીન માટે મંજૂરી મળી
  • કારોબાર : US FDAની મંજૂરી મળી માઈગ્રેનની દવા Sumatriptan માટે ડો.રેડ્ડીઝને મંજૂરી મળી
  • કારોબાર : જાપાનના આર્થિક આંકડાઓ જાન્યુઆરીમાં મેન્યુફેક્ચરીંગ PMI 52.6 થી ઘટી 52.3 (MoM)
  • કારોબાર : વકરાંગીએ ટાટા AIG જનરલ ઈન્શ્યોરન્સ કંપની સાથે કરાર કર્યા

Now Playing

બજાર હેલ્પ