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Moneycontrol.com India | Accounting Policy > Finance - Investments > Accounting Policy followed by Vikalp Securities - BSE: 531334, NSE: N.A
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Vikalp Securities
BSE: 531334|ISIN: INE186E01011|SECTOR: Finance - Investments
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Vikalp Securities is not listed on NSE
« Mar 11
Accounting Policy Year : Mar '12
1.1 ACCOUNTING CONVENTION
 
 The Financial statements are prepared on going concern concept under
 historical cost convention on accrual basis and are in accordance with
 the applicable accounting standard issued by the Institute of Chartered 
 Accounts of Indian notified under section 211 (3C) and the other 
 relevant provisions of the Companies Act.1956.
 
 1.2 FIXED ASSETS
 
 Fixed assets are stated at cost less accumulated depreciation. Cost
 comprises the purchase price or construction cost including any
 attributable cost of bringing the assets to its working condition for
 its use.
 
 1.3 DEPRECIATION
 
 Depreciation is provided on straight line method as per schedule XIV of
 the companies Act 1956.on prorate basis.
 
 1.4 STOCK IN TRADE
 
 1. Share ,debentures, units & Securities are accounted under Stock in
 trade on trade dates.
 
 2. The cost of stock in trade includes brokerage but does not include
 stamp duty which was charged to revenue.
 
 1.5 VALUATION OF STOCK IN TRADE
 
 Stock has been valued at cost instead of cost or market value which
 ever is lower because the company is doing business of shares &
 securities as broker of Stock Exchange.
 
 1.6 INVESTMENT
 
 The Investments are long term i.e. non-current investment and are valued
 at cost since the company is doing business of shares & securities in
 share market therefore no provision is being made for diminution in the
 investments.
 
 1.7 INCOME
 
 (a) In respect of contracts relating to shares without taking or giving
 deliveries profit or Losses are accounted for on squaring updates.
 
 (b) Income from dealing in shares / Securities is recognized on the
 basis of matched contract of similar deliveries dates for purchase &
 sales entered during the year.
 
 (c) Dividend on investment in shares & Securities are accounted for on
 receipt basis.
 
 1.8 EXPENSES
 
 All expenses are accounted on accrual basis.
 
 1.9.  CONTINGENTLIABILITY    2011-2012      2010-2011
 
 To the extent known             NIL            NIL
Source : Dion Global Solutions Limited
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