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अल्फा आईसीए (इंडिया)

बीएसई: 530973  |  NSE: N.A  |  ISIN: INE042C01010  |  Miscellaneous

खोजें अल्फा आईसीए (इंडिया) कनेक्शन मार्च 14
लेखांकन नीति साल : मार्च '15
 i Basis of Preparation of Financial Statements
 The financial statements are prepared and presented under the
 historical cost convention on an accrual basis of accounting in
 accordance with generally accepted accounting principles in India and
 are to comply with the applicable accounting standards notified under
 section 133 of the Companies Act, 2013. The accounting policies have
 been consistently applied unless otherwise stated.
 ii Use of Estimates
 The preparation of financial statements requires management to make
 estimates and assumptions that affect the reported amounts of assets
 and liabilities and disclosure of contingent liabilities as at the date
 of the financial statements and the reported amounts of incomes and
 expenses during the reporting period. Difference between the actual
 results and estimates are recognised in the period in which results are
 known or materialised.
 iii. Valution of Inventories
 The inventory has been valued as under :
 (a) Raw materials, stores and spares are valued at cost.
 (b) Work in progress and finished goods are valued at lower of cost and
 net realisable value.
 iv.  Depreciation
 Depreciation on fixed assets is provided on Stright line method as per
 schedule II of the Companies Act, 2013 on the basis of period for which
 assets used in reporting period. Necessary amounts have been adjusted
 against surplus to comply with provisions of Schedule II of the Act.
 v.  Revenue Recognition
 Sale of goods is recognised at the point of dispatch of finished goods
 to the customers. Sale is inclusive of excise duty and VAT. Export
 incentives are accounted for in the year of exports based on
 eligibility and when there is no uncertainity in receiving the same.
 Interest income is recognised on time proportion basis.
 vi.  Fixed Assets
 Fixed assets are recognised at cost of acquisition including
 expenditure up to the date of commissioning, net of CENVAT or VAT less
 accumulated depreciation, amortisation and impairment loss. The cost of
 fixed assets not ready for their intended use before balance sheet date
 are disclosed under capital work-in-progress.
 vii. Government Grants
 Government grants for Project Capital Subsidy are credited to Capital
 viii. Foreign Currency Transaction
 (a) Transactions denominated in foreign currencies are normally
 recorded at the exchange rate prevailing on the date of transaction.
 (b) Any income or expense on account of exchange difference either on
 settlement or on traslations recognised in the statement of profit and
 loss except fixed assets acquisition in which they are adjusted to the
 carrying cost of such assets.
 ix.  Investments
 Investments are classified as long term or current based on management
 intention at the time of purchase. Long term quoted investments are
 stated at cost after deducting provisions made, if any for permanent
 dimunitions i.e.  other than temporary dimunition in value. Long term
 unquoted investments are stated at cost of acquisition.  Current
 Investments are stated at lower of cost and fair value.
 x.  Retirement Benefits
 Liability for gratuity is accounted on cash basis. The company does not
 provide for gratuity payable to employees as per the provisions of
 AS-15, Employee Benefits
 xi.  Borrowing Costs
 Interest and other costs in connection with the borrowing of the funds
 to the extent related/attributed to acquisition or construction of
 qualifying assets are capitalised up to the date when such fixed assets
 are ready for their intended use and all other borrowing costs are
 charged to statement of profit and loss.
 xii. Provision for taxation
 Provision for income tax for the current year is based on the estimated
 taxable income for the period in accordance with the provisions of the
 Income Tax Act, 1961.
 Deferred tax resulting from timing difference between book and
 taxable income is accounted for using tax rated and tax laws that have
 been enacted or substantively enacted as on the balance sheet date. The
 deferred tax asset is recognised only to the extent that there is a
 reasonable certainity that the future taxable profit will be available
 against which the deferred tax assets can be realised.
 xiii. Provisions and contingencies
 A provision is recognised when there is a present obligation as a
 result of past event 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 are determined based on best
 estimate of the amount required to settle the obligation at the balance
 sheet date.
 Contingent liabilities are not recognised but are disclosed as a part
 of notes to accounts. Contingent assets are neither recognised nor
 disclosed in the financial statements.
स्रोत: रेलीगरे टेचनोवा

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