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moneycontrol.com भारत | लेखांकन नीति > Computers - Software Medium & Small > लेखांकन नीति फॉलोड से एडवेंट कंप्यूटर सर्विसेस - बीएसई: 531429, NSE: N.A

एडवेंट कंप्यूटर सर्विसेस

बीएसई: 531429  |  NSE: N.A  |  ISIN: INE101C01022  |  Computers - Software Medium & Small

खोजें एडवेंट कंप्यूटर सर्विसेस कनेक्शन मार्च 14
लेखांकन नीति साल : मार्च '15
 (a) The financial statements have been prepared under Historical Cost
 Convention and in accordance with the Generally Accepted Accounting
 Principles In India including the accounting standards specified under
 Section 133 of the Companies Act, 2013 read with Rule 7 of the
 Companies (Accounts) Rules,2014.
 
 (b) The company follows mercantile system of accounting and recognizes
 income and expenditure on accrual basis except those with significant
 uncertainties.
 
 (c) The presentation of the financial statements in conformity with the
 generally accepted accounting principles requires the management to
 make estimates and assumptions that affect the reported amount of
 assets and liabilities, revenues and expenses and disclosure of
 contingent liabilities. Such estimates and assumptions are based on
 management''s evaluation of relevant facts and circumstances as on the
 date of financial statements. The actual outcome may diverge from these
 estimates.
 
 2.  Revenue Recognition
 
 (a) Revenue from software development/ software products is recognized
 on the basis of delivery of the license of the required software
 products specified in the purchase order. The company also performs
 item bound fixed price engagements, revenue are recognized using the
 stages of completion method of accounting. The invoice value is
 received in phased manner over the period of installation and adjusted
 against receivables on receipt.
 
 (b) All other income is recognized on an accrual basis.
 
 3.  Fixed Assets
 
 Fixed assets are stated at cost less accumulated depreciation. Cost
 includes capital cost, freight, installation cost, duties and taxes and
 other incidental expenses incurred during the construction/
 installation stage attributable to bringing the asset to working
 condition for its intended use.
 
 4.  Depreciation
 
 (a) Depreciation is provided under the WDV Method at the rates and in
 accordance with the manner specified in Schedule II of the Companies
 Act, 2013.
 
 (b) Depreciation is charged on a pro-rata basis for assets
 purchased/sold during the year. Individual assets costing less than Rs.
 5,000 are depreciated in full, in the year of purchase.
 
 5.  Impairment of Asset
 
 If the carrying amount of assets exceeds the recoverable amount on the
 reporting date, the carrying amount is reduced to the recoverable
 amount. The recoverable amount is measured at the higher of the net
 selling price and value in use determined by the present value of
 estimated future cash flows. The company has a policy of comparing the
 Recoverable value of assets with the carrying cost and recognizing
 impairment when required. Technical know-how, capital reorganization
 account and good will have not been tested for impairment.
 
 6.  Taxation
 
 (a) Provision for current tax is made based on the liability computed
 in accordance with Income Tax Act, 1961 and rules framed there under.
 
 (b) Deferred tax is recognized, subject to consideration of prudence,
 on timing differences, being difference between taxable and accounting
 income/expenditure that originate in one period and are capable of
 reversal in one or more subsequent period(s). As a matter of prudence
 deferred tax asset is not recognized unless there is virtual
 certainty that sufficient future taxable income will be available
 against which such deferred tax assets will be realized.
 
 7.  Provisions
 
 (a) A provision is recognized when an enterprise has a present
 obligation as a result of past event and it is probable that an outflow
 from the enterprise, of resources embodying economic benefits, will be
 required to settle the obligation, in respect of which a reliable
 estimate can be made.
 
 (b) Provisions made in terms of Accounting Standard 29 are not
 discounted to its present value and are determined based on the
 management estimates required to settle the obligation at the balance
 sheet date.
 
 8.  Contingencies
 
 Liabilities which are material and whose future outcome cannot be
 ascertained with reasonable certainty are treated as contingent and
 disclosed by way of Notes to the financial statements.
 
 9.  Earnings per Share
 
 Basic Earnings per Share is calculated by dividing the net profit after
 tax for the year attributable to equity shareholders of the Company by
 the weighted average number of equity shares in issue during the year.
 
 10. Figures have been rounded off to the nearest rupee.
 
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