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0.16 (2.56%)| Accounting Policy | Year : Mar '12 | ||||
1 Basis of accounting and preparation of financial statements The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) comply with the Accounting Standards notified under the Companies (Accounting Standards} Rules, 2006 (as amended) and the relevant provisions of tl Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost convention except for categories of fixed assets acquired before 1 April. 2010, that are carried at revalued amounts. The accounting policies adopted in the preparation of the financial statements a consistent with those followed in the previous year. 2 Use of estimates The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimate and the differences between the actual results and the estimates are recognized in the periods in which the results are known / materialize. _ Revenue Recognition Revenue and expenses are recognized on their accrual including provisions and/or adjustments for committed obligations and amounts determined as payable and receivables during the period. 4 Foreign Currency Transaction Foreign Currency Transaction are accounted for at the prevailing foreign exchange rates at the time the transaction took place. 5 Depreciation The company is not having any Fixed Assets. 6 Investments The Unquoted Investments are stated at the purchase price plus expenses i.e. brokerage. fees and duties etc. related with the purchases. 7 Impairment of Assets '' If the carrying amount of fixed assets exceeds the recoverable amount on the reporting date, the carrying amount is reduced to the recoverable amount. The recoverable amount is measured as the higher of the selling price and the value determined by the present value of estimated future cash flows. 8 Fixed Assets No Fixed Assets have been held by company. 9 Inventory Company Is not carrying any inventory 10 Disclosure under AS-15 (Revised) - Employee Benefits There are no long Term Employees Benefits which require assessment of future liability of the company as per AS-15 issued under the company (Accounting Standards) Rules, 2006 11 Sundry Debtors, Loans and Advances and Sundry Creditors In the opinion of the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated if realized in the course of business The provisions for all known liabilities are adequate and not in excess of the amount reasonable required. Balance of Sundry Creditors, Sundry Debtors and Loans & Advances are subject to confirmation and reconciliation. 12 Earnings Per Share The Company report Basic and Diluted earnings per share (EPS) in accordance with Accounting Standard - 20 issued by the Institute of Chartered Accountants of India. The Basic EPS has been computed by dividing the income available to equity shareholders by the weighted average number of equity shares outstanding during the accounting year The Diluted EPS have been computed using the weighted average number of equity shares and Diluted potential equity shares outstanding at the end of the year. |
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| Source : Dion Global Solutions Limited | |||||
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