Moneycontrol Be a Pro
Get App
SENSEX NIFTY
Moneycontrol.com India | Accounting Policy > Finance - Investments > Accounting Policy followed by Capfin India - BSE: 539198, NSE: N.A
YOU ARE HERE > MONEYCONTROL > MARKETS > FINANCE - INVESTMENTS > ACCOUNTING POLICY - Capfin India

Capfin India

BSE: 539198|ISIN: INE960C01013|SECTOR: Finance - Investments
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Dec 11, 16:00
1.95
0.09 (4.84%)
VOLUME 105
Capfin India is not listed on NSE
Mar 14
Accounting Policy Year : Mar '15
1. Basis of Preparation of Financial Statement
 
 The financial statements have been prepared and presented under the
 historical cost convention on the accrual basis i.e. mercantile system
 of accounting and on the basis of going concern with the accounting
 principles generally accepted in India ''GAAP'' and comply with all
 material aspects of the accounting standards specified under Section
 133 of the Companies Act, 2013, read with Rule 7 of the Companies
 (Accounts) Rules, 2014. Accounting policies not specifically referred
 to otherwise are consistent with the generally accepted accounting
 principles followed by the company. Historical costs are not adjusted
 to reflect the changing value in the purchasing power of money.
 
 2. Use of Estimates
 
 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and the disclosure of contingent liabilities as at the date
 of financial statements and reported amounts of revenue and expenses
 during the year. The Management believes that the estimates used in the
 preparation of the financial statements are prudent and reasonable.
 Future results could differ from those estimates and the difference
 between the actual results and the estimates are recognized in the
 periods in which the results are known/materialize.
 
 3. Fixed Assets
 
 Fixed assets are stated at cost of acquisition (net of CENVAT, where
 ever applicable), less accumulated depreciation till the end of
 financial year. Cost is inclusive of freight, duties, levies,
 installation expenses and any directly attributable cost of bringing
 the assets to their working condition for intended use which are
 capitalized till the assets are ready to be put to use.
 
 4. Depreciation
 
 Consequent to enforcement of Companies Act, 2013, Depreciation on Fixed
 Assets is provided to the extent of depreciable amount on Straight Line
 Method as per Schedule II of the said Act taking into account the
 useful life of the assets as given in the schedule.
 
 5. Inventories
 
 Inventory is physically taken and valued by the management at lower of
 cost or net realisable value.
 
 6. Impairment
 
 The company assesses at each balance sheet date whether there is any
 indication that an asset may be impaired. If any such indication
 exists, the Company estimates the recoverable amount of the asset. If
 such recoverable amount of the asset or the recoverable amount of the
 cash generating unit to which the asset belongs is less than its
 carrying amount, the carrying amount is reduced to its recoverable
 amount and the reduction is treated as an impairment loss and is
 recognized in the profit and loss account. If at the balance sheet date
 there is an indication that a previously assessed impairment loss no
 longer exists, the recoverable amount is reassessed and the asset is
 reflected at the recoverable amount subject to a maximum of depreciated
 historical cost and is accordingly reversed in the statement of profit
 and loss.
 
 7. Employee Benefits
 
 No provision of gratuity or any estimated contingent liability has been
 determined since the Payment of Gratuity Act, 1972 is not applicable to
 the enterprise for the time being. The provision of Employees''
 Provident Funds and Miscellaneous Provisions Act, 1952 were not
 applicable to the enterprise during the year.
 
 8. Investments
 
 Non Current Investments in equity shares have been valued at cost.
 Provision for diminution in the value of Non Current investments is
 made only if such a decline is other than temporary.
 
 9. Foreign Currency Transactions
 
 There were no transactions in foreign currency.
 
 10. Current Assets and Loans and Advances
 
 In the opinion of the directors of the company, the Current Assets,
 Loans and Advances have a value on realization in the ordinary course
 of business at least equal to the amounts at which they are stated.
 
 12. Income Tax :
 
 An amount of '' 40,673/- (Previous year : '' 66,766/-) has been provided
 towards Current Income Tax Liability during the year. Deferred Income
 Tax Asset as on 31st March, 2015 was '' NIL /- (Previous year : ''
 4,173/-) and Deferred Income Tax Liability as on 31st March, 2015 was ''
 5,838 /- (Previous year : '' NIL/-)
 
 13. Earnings Per Share
 
 Basic earnings/ (loss) per share are calculated by dividing the net
 profit or loss for the period attributable to equity shareholders by
 the weighted average number of equity shares outstanding during the
 period.
 
 14. Tax Expenses
 
 Provision for income tax comprises of current tax and deferred tax
 charge or release. Current
 
 income tax is measured at the amount expected to be paid to the tax
 authorities in accordance with the Indian income tax act, 1961.
 Deferred tax is recognized, subject to consideration of prudence, on
 timing differences, being difference between taxable and accounting
 income and expenditure that originate in one period and are capable of
 reversal in one or more subsequent periods.  Deferred tax assets are
 not recognized unless there is virtual certainty that sufficient
 future taxable income will be available against which such deferred tax
 assets will be realized.
 
 15.  Contingent Liabilities and Provisions
 
 The company recognizes a provision when there is a present obligation
 as a result of a past event that probably requires an outflow of
 resources and a reliable estimate can be made of the amount of the
 obligation. A disclosure for a contingent liability is made when there
 is a possible obligation or a present obligation that may, but probably
 will not, require an outflow of resources. Where there is a possible
 obligation or a present obligation that the likelihood of outflow of
 resources is remote, no provision or disclosure is made.
 
 Current Year : Nil (Previous Year : Nil)
 
 16.  Others
 
 Accounting policies not specifically referred to are consistent and in
 consonance with generally accepted accounting principles and
 conventions.
 
 Previous period figures have been regrouped wherever necessary to
 conform to current year''s presentation.
 
 
 
 
Source : Dion Global Solutions Limited
Quick Links for capfinindia
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.