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Radford Global
BSE: 530561|ISIN: INE783M01026|SECTOR: Hotels
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Radford Global is not listed on NSE
« Mar 12
Accounting Policy Year : Mar '13
i.  Corporate Information:
 
 Radford Global Limited is public limited listed company. The Company
 operates in the business of construction and real estate development,
 Trading business and Manpower Recruitment services
 
 ii.  Basis of Accounting & Preparation of Financial Statements:
 
 Preparation and presentation of financial statements of the company is
 disclosed as per the revised Schedule VI notified under the Companies
 Act, 1956 However, it has significant impact on presentation and
 disclosures made in the financial statements. The Company has also
 reclassified the previous year figures in accordance with the
 requirements applicable in the current year.  The financial statements
 have been prepared under the historical cost convention in accordance
 with the generally accepted accounting principles and the provisions of
 the Companies Act, 1956 as adopted consistently by the Company.
 Accounting policies not stated explicitly otherwise are consistent with
 Generally Accepted Accounting Principles (GAAP).  The Company generally
 follows mercantile system of accounting and recognize significant items
 of income and expenditure on accrual basis as a going concern.
 
 iii.  Use of Estimates:
 
 The preparation of the financial statements in conformity with Indian
 GAAP requires the 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
 reported amounts of revenues and expenses for 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 estimates. Any revision to accounting estimates is recognized
 prospectively in the current and future periods.
 
 iv.  Investments:
 
 Investments are long term in the nature and stated at cost.
 
 v.  Inventories:
 
 Inventories are stated at cost or net realisable value whichever is
 lower.
 
 vi.  Employee Benefits:
 
 Short Term Employee Benefits:
 
 All employee benefits payable wholly within twelve months of rendering
 the services are classified as short term employee benefits. Benefits
 such as salaries, wages, performance incentives etc.  are recognized at
 actual amounts due in the period in which the employee renders the
 related service.
 
 vii.  Provisions, Contingent Liabilities & Contingent Assets:
 
 Provisions involving substantial degree of estimation in measurement
 are recognized when there is a present obligation as a result of past
 event and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognized but are disclosed in the
 notes. Contingent Assets are neither recognized nor disclosed in the
 financial statements. There is no contingent liability in the opinion
 of the Management.
 
 viii. Revenue recognition :
 
 All income and expenditure items having a material bearing on the
 financial statement are recognised on accrual basis.
 
 ix.  Taxes on income :
 
 Provision for tax is made on the basis of the estimated taxable income
 as per the provisions of the Income Tax Act, 1961 and the relevant
 Finance Act, after taking into consideration judicial pronouncements
 and opinions of the Company''s tax advisors.
 
 Deferred tax is recognised, subject to the consideration of prudence,
 on timing differences, being the difference between taxable incomes and
 accounting income that originate in one period and are capable of
 reversal in one or more subsequent periods.
 
 x.  Earnings per Share:
 
 Basic earnings per share is computed by dividing the profit/(loss)
 after tax (including the post-tax effect of extraordinary items, if
 any) by the weighted average number of equity shares outstanding during
 the year.Diluted earnings per share is computed by dividing the
 profit/(loss) after tax (including the post-tax effect of extraordinary
 items, if any) as adjusted for dividend, interest and other charges to
 expense or income relating to the dilutive potential equity shares, by
 the weighted average number of equity shares considered for deriving
 basic earnings per share and the weighted average number of shares
 which could have been issued on the conversion of all dilutive
 potential equity shares.
Source : Dion Global Solutions Limited
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