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Moneycontrol.com India | Accounting Policy > Computers - Software Medium/Small > Accounting Policy followed by Relson India - BSE: 502473, NSE: N.A
Relson India
BSE: 502473|SECTOR: Computers - Software Medium/Small
Relson India is not traded in the last 30 days
Relson India is not listed on NSE
Mar 11
Accounting Policy Year : Mar '13
a) General
 The significant accounting policies have been predominantly presented
 below in the order of the Accounting Standards notified under the
 Companies (Accounting Standards) Rules, 2006 (as amended). The order of
 presentation may be customized for each Company.
 b) 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) to comply with the Accounting Standards notified under
 the Companies (Accounting Standards) Rules, 2006 (as amended) and the
 relevant provisions of the Companies Act, 1956.
 The Financial Statement have been prepared on accrual basis under the
 Historical cost convention except to the extent stated otherwise
 c) Use of estimates
 The preparation of the financial statements in conformity with Indian
 GAAP requires the Management to make estimates and assumptions
 considered in 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 estimates and the differences between the
 actual results and the estimates are recognized in the periods in which
 the results are known / materialize.
 d) Cash and cash equivalents (for purposes of Cash Flow Statement)
 Cash comprises cash on hand and demand deposits with banks. Cash
 equivalents are short-term balances (with an original maturity of three
 months or less from the date of acquisition), highly liquid investments
 that are readily convertible into known amounts of cash and which are
 subject to insignificant risk of changes in value.
 e) Cash flow statement
 Cash flows are reported using the indirect method, whereby profit /
 (loss) before extraordinary items and tax is adjusted for the effects
 of transactions of non-cash nature and any deferrals or accruals of
 past or future cash receipts or payments. The cash flows from
 operating, investing and financing activities of the Company are
 segregated based on the available information.
 f) Depreciation and amortization
 Depreciation has been provided on the written-down-value-line method as
 per the rates prescribed in Schedule XIV to the Companies Act, 1956.
 g) Other income
 Interest income is accounted on accrual basis. Dividend income is
 accounted for when the right to receive it is established.
 h) Tangible fixed assets
 Fixed assets, carried at cost less accumulated depreciation and
 impairment losses, if any. The cost of fixed assets includes interest
 on borrowings attributable to acquisition of qualifying fixed assets up
 to the date the asset is ready for its intended use and other
 incidental expenses incurred up to that date.  Fixed assets acquired
 and put to use for project purpose are capitalized and depreciation
 thereon is included in the project cost till commissioning of the
 i) Investments
 Long-term investments (excluding investment properties), are carried
 individually at cost less provision for diminution, other than
 temporary, in the value of such investments. Current investments are
 carried individually, at the lower of cost and fair value. Cost of
 investments include acquisition charges such as brokerage, fees and
 j) Quoted Investment
 The management has given custody of all the shares certificates to
 depository authorities for completing the demoting formalities and
 hence we are unable to conduct the physical verification of shares.
 Further some of the shares are in the name of directors and their
 relatives and yet not transferred in the name of the company.
 k) Unquoted Investment
 These share certificates are not available for verification, although
 allotment acknowledgement letter from respective companies were made
 available. The shares in respect of which market quotations are not
 available, disclosed under Unquoted Investment.
 I) Employee benefits
 Employee benefits include provident fund, superannuation fund, gratuity
 fund, compensated absences, long service awards and post-employment
 medical benefits.
 m) Deferred Tax:
 Deferred taxation liability as required by AS-22 Deferred taxation
 issued by ICAI is not provided in accounts as the quantum of the same
 on account of depreciation is not material..
 n) 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 equity
 shares which could have been issued on the conversion of all dilutive
 potential equity shares.
 o) Related Party Disclosures :
 Disclosures as required by the Accounting Standard 18 Related Party
 Disclosures are given below: List of Related Parties
 a) Controlling Companies
 BRCM Limited, Anusuya Rajiv Private Limited and Rajiv Associates
 Private Limited
 b) Key Management Personnel and their relatives
 Ms. Apama Gupta and Mrs. Anusuya Gupta and Pravin Jain HUF
 p) Taxes on income
 Current tax is the amount of tax payable on the taxable income for the
 year as determined in accordance with the provisions of the Income Tax
 Act, 1961.
 Deferred tax is recognized on timing differences, being the differences
 between the taxable income and the accounting income that originate in
 one period and are capable of reversal in one or more subsequent
 periods. Deferred tax is measured using the tax rates and the tax laws
 enacted or substantially enacted as at the reporting date. Deferred tax
 assets are recognized for timing differences of other items only to the
 extent that reasonable certainty exists that sufficient future taxable
 income will be available against which these can be realized.
 q) Provisions
 A provision is recognized when the Company has a present obligation as
 a result of past events and 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 (excluding retirement
 benefits) are not discounted to their present value and are determined
 based on the 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 estimates.
Source : Dion Global Solutions Limited
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