Election 2014
Moneycontrol.com India | Accounting Policy > Finance - Investments > Accounting Policy followed by Nivedita Mercantile And Financing - BSE: 512381, NSE: N.A
Nivedita Mercantile And Financing
BSE: 512381|ISIN: INE992I01013|SECTOR: Finance - Investments
Apr 04, 17:00
Nivedita Mercantile And Financing is not listed on NSE
Mar 12
Accounting Policy Year : Mar '13
1.1 Basis of preparation
 The financial statements are prepared under the historical cost
 convention on an accrual basis of accounting in accordance with the
 generally accepted accounting principles, Accounting Standards notified
 under Section 211(3C) of the Companies Act, 1956 and the relevant
 provisions thereof along with the applicable guidelines issued by
 Reserve Bank of India (RBI).
 1.2 Use of estimates
 The preparation of financial statements requires management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities, the disclosure of contingent liabilities on the date
 of the financial statements and the reported amounts of revenues and
 expenses during trie period reported.  Actual results could differ from
 those estimates. Any revision to accounting estimates is recognised in
 accordance with the requirements of the respective accounting standard.
 1.3 Revenue Recognition
 (a) Revenue is recognised to the extent that it is probable that the
 economic benefits will flow to the Company and the revenue can be
 reliably measured and there exists reasonable certainty of its
 b) Other Income is recognized to the extent that it is probable that
 the economic benefits will flow to the Company and the revenue can be
 reliably measured.
 c) Dividend is accounted when the right to receipt is established.
 1.4 Fixed Assets & Depreciation
 The Company does not have any Fixed Asset as on 31st March 2013.
 1.5 Investments
 Investments that are readily realizable and intended to be held for not
 more than a year are classified as current investments. Current
 investments are carried at lower of cost and market value whichever is
 All other investments are classified as non current Investments. Non
 Current Investments are carried at cost, less provision for diminution
 in value other than temporary.
 1.6 Taxation
 Tax expense comprises of current and deferred. 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.
 1.7 Earnings per Share
 The Company reports basic and diluted earnings per share in accordance
 with AS-20 Earnings per Share. Basic earnings per share are computed
 by dividing the net profit or loss for the period by the weighted
 average number of Equity Shares outstanding during the period. Diluted
 earnings per share is computed by dividing the net profit or loss for
 the period by the weighted average number of Equity Shares outstanding
 during the period as adjusted for the effects of all dilutive potential
 equity shares.
 1.8 Provision
 A provision is recognized when an enterprise has a present obligation
 as a result of past event 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
 1.9 Contingent Liabilities
 Contingent Liabilities, if any, are disclosed in the Notes on Accounts.
 Provision is made in the accounts in respect of those contingencies
 which are likely to materialize into liabilities after the year end
 till the approval of the accounts by the Board of Directors and which
 have material effect on the position stated in the Balance Sheet.
 1.10 Advances
 Advances are classified under four categories i.e. (i) Standard Assets,
 (ii) Sub-standard Assets, (iii) Doubtful Assets and (iv) Loss Assets in
 accordance with the RBI Guidelines.
 Provision on restructured advances is made at in accordance with the
 guidelines issued by the RBI.  Provision on Standard Assets is made as
 per the provisioning policy of the Company subject to minimum as
 stipulated in RBI Guidelines or where additional specific risks are
 identified by the management, based on such identification.
 1.11 Cash Flow Statement
 The Cash Flow Statement is prepared in accordance with indirect method
 as explained in the Accounting Standard on Cassh Flow Statement (AS) 3
 issued by the ICAI.
 1.12 Cash and Cash Equivalents
 Cash and Bank Balances that have insignificant risk of change in value
 including term deposits, which have original durations up to three
 months, are included in cash and cash equivalents in the Cash Flow
 1.13 Share Issue Expenses
 Share issue expense is charged to the statement of Profit & Loss in the
 year in which it is incurred.
Source : Dion Global Solutions Limited
Quick Links for niveditamercantileandfinancing
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.