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Moneycontrol.com India | Accounting Policy > Mining/Minerals > Accounting Policy followed by Oswal Minerals - BSE: N.A, NSE: OSWALMIN
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Oswal Minerals
NSE: OSWALMIN|ISIN: INE469B01017|SECTOR: Mining/Minerals
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Oswal Minerals is not listed on BSE
Oswal Minerals is not traded in the last 30 days
Accounting Policy Year : Mar '09
a.  Segment Reporting
 
 The company engaged primarily in the business of trading in Alloys &
 Minerals. Hence there is no separate reportable segment reporting.
 
 b.  Related party Disclosures
 
 Related party disclosures as required by Accounting Standard 18
 Related Party Disclosures , (AS)- 18 issued by the Institute of
 Chartered Accountants of India are given below:-
 
 c.  Earnings per share
 
 The earnings per share, computed as per the requirement under Accounting
 Standard 20, Earning per Share (AS)-20 issued by The Institute of
 Chartered Accountants of India, is as follows:
 
 d.  Deferred Tax Assets :
 
 As per Accounting standard 22  Accounting for Taxes on Income (A5)-22
 issued by the institute of Chartered Accountants of India, Deferred Tax
 resulting from timing differences between book and tax profit is
 accounted for at the current rate of tax to the extent that timing
 differences are expected to crystallize. Deferred Tax Assets during the
 year aggregating to Rs.66273.00 has been recognized in the Profit and
 Loss account. The details are as per annexure appended.
 
 g.  Contingent Liabilities
 
 The Company has preferred an appeal against the demand raised by the
 Income Tax Department for the
 
 A.Y.: 2001-02 Rs.5, 31,635.00
 
 A.Y.: 2002-03 Rs.5, 17,353.00
 
 h.  Since the Company is Trading in Minerals & Alloys the description
 for the same differs on the basis of supply, requirements etc; in the
 absence of the relevant description it is not possible to give the
 quantitative details of stock as required under paragraph 3, 4c and 4d
 of part II of Schedule IV to the Companies Act, 1956.
 
 i.  The company had not availed any loan/deposits from
 public/shareholders except stated otherwise.
 
 j. Balances from Sundry Debtors, Creditors are subject to confirmation
 and reconciliation,
 
 k. Previous year figures have been regrouped or reclassified where
 necessary to make them comparable with current year''s figures.
Source : Dion Global Solutions Limited
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