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Moneycontrol.com India | Accounting Policy > Finance - Leasing & Hire Purchase > Accounting Policy followed by Alfavision Securities and Finance - BSE: 531156, NSE: N.A
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Alfavision Securities and Finance
BSE: 531156|ISIN: INE883B01019|SECTOR: Finance - Leasing & Hire Purchase
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Alfavision Securities and Finance is not listed on NSE
Mar 10
Accounting Policy Year : Mar '13
1.  Recognition of Income & Expenditure: The Financial Statements have
 been prepared under the historical cost convention in accordance with
 applicable Accounting Standards in India and the provisions of the
 Companies Act, 1956 .  The Company generally follows mercantile system
 of Accounting and recognizes significant items of income and
 Expenditure on accrual basis .
 
 2.  Use of Estimates: The presentation of Financial Statements in
 conformity with the generally accepted accounting principles requires
 estimates and assumption to be made, that affect the reported amount of
 assets and liabilities on the date of financial statements and the
 reported amount of revenues and expenses during the period .
 Differences between the actual result and estimates are recognized in
 the period in which the results are known/materialized.
 
 3.  Fixed Assets: Fixed Assets are stated at cost net of Modvat/ Cenvat
 and including expenses related to acquisition, installation less
 accumulated depreciation.
 
 4.  Depreciation: Depreciation on Fixed Assets has been provided on
 Written Down Value Method at the rates prescribed in the Schedule XIV
 of the Companies Act, 1956.
 
 5.  Impairment of Assets: Consideration is given at Balance Sheet date
 to determine whether there is any indication of impairment of the
 carrying amount of the Company''s Fixed Assets. If any indication
 exists, an asset''s recoverable amount is estimated. An impairment
 loss is recognized whenever the carrying amount of assets exceeds the
 recoverable amount.
 
 6.  Investments: Long term Investment is valued at cost.
 
 7.  Inventory valuation: Inventories are valued at Cost or estimated
 realizable value whichever is lower.
 
 8.  Foreign Currency Transaction: There was no foreign currency
 transaction during the year.
 
 9.  Treatment of Retirement Benefits: No provision for Retirement
 benefits has been made as at employees has not put in the qualifying
 period of service for entitlement of this benefit.
 
 10.  Borrowing Cost: Borrowing Cost that is attributable to the
 acquisition or construction of qualifying assets are capitalized as
 part of such assets. A qualifying assets is one that necessarily takes
 substantial period of time to get ready for intended use. All other
 borrowings costs are charged to revenue.
 
 11.  Taxes on Income: Provisions for current Tax is made after taking
 into consideration benefits admissible under the provisions of the
 Income Tax Act , 1961. Differed tax is recognized on timing difference
 between the accounting income and taxable income for the year and
 quantified using the tax rates and laws enacted or substantively
 enacted as on the Balance Sheet date ; and the assets if arising ,is
 recognized if there being reasonable certainty of its absorption
 against profits expected to be earned in the not too distant future
 periods.
 
 12.  Earnings per Share: In accordance with the Accounting Standards 20
 Earnings per Share issued by the Institute of Chartered
 Accountants of India, basic earnings per share is computed using the
 weighted average number of shares outstanding during the year.
 
 13.  Treatment of Continent Liability: Contingent liabilities are not
 provided for.  These are being disclosed in the Notes on Accounts.
Source : Dion Global Solutions Limited
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