moneycontrol.com भारत | लेखांकन नीति > Engineering > लेखांकन नीति फॉलोड से अलफ्रेड हर्बर्ट (इंडिया) - बीएसई: 505216, NSE: ALFREDHERB

अलफ्रेड हर्बर्ट (इंडिया)

बीएसई: 505216  |  NSE: ALFREDHERB  |  ISIN: INE782D01027  |  Engineering

खोजें अलफ्रेड हर्बर्ट (इंडिया) कनेक्शन मार्च 18
लेखांकन नीति साल : मार्च '19


Basis of preparation of financial statements

The Financial statements are prepared on accrual basis under the historical cost convention (except where impairment is made and revaluation is carried out) on the basis of going concern and in accordance with the provisions of the Companies Act, 2013 (‘the Act’) and Accounting standards specified under section 133 of ‘the Act’ read with Rule 7 of the Companies (Accounts) Rules, 2014 and accounting principles generally accepted in India. Accounting policies unless specifically stated to be otherwise, are consistent and are in consonance with generally accepted accounting principles.

Use of Estimates

In preparing the Financial statements in conformity with accounting principles generally accepted in India, Management is required 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 the amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Any revision to such estimates is recognised in the period the same is determined.

Property, Plant & Equipment

Tangible Assets other than leasehold building and those, which have been revalued, are stated at cost net of impairment loss, if any, less depreciation/amortisation. Cost represents expenses relating to acquisition, installation of Assets and other directly attributable costs incurred till the date assets are put to use. Capital work-in-progress includes expenses relating to construction of Building, not ready for its intended use as on the close of the reported period.

Impairment of Assets

Impairment is ascertained at each Balance sheet date in respect of the Company’s fixed assets. An impairment loss is recognised whenever the carrying amount of an asset or cash generating unit exceeds its recoverable amount.

Depreciation / Amortisation

(i) The Company has provided Depreciation on straight Line Method as per the requirement of schedule II of the Companies Act, 2013.

(ii) Depreciation on incremental value of fixed assets due to revaluation is provided on straight-line basis with respect to technically evaluated, remaining useful life of the assets.

(iii) Leasehold Building is being amortised over the lease period. Investments

Non Current Investments are stated at cost less provision for diminution in value other than temporary, if any. Current investments are valued at cost or market price or realisable value whichever is lower. Dividend is accounted for as and when the right to receive the same is established.

Dividend Payment

Dividends payable to the Company’s shareholders are recognised in the period in which they are approved by the Company’s shareholders.

Foreign Currency Transaction

Transactions in foreign currencies are accounted for at the exchange rate prevailing on the date of the transaction. Foreign currency assets and liabilities are translated at exchange rates prevailing at the year end. The loss or gain thereon and also on the exchange differences on settlement of the foreign currency transaction during the year are recognised in the statement of profit and Loss.

Revenue Recognition

Sales are recognised on passing of the ownership of goods as per the terms of sales.Claims, commission and service charges to the extent considered realisable have been accounted for on ascertainment of amounts thereof. Interest is accrued and recognised on time proportion basis and determined by contractual rate of interest. Dividend is accounted for as and when the right to receive the same is established.

Employee Benefits

Short term employee benefits is recognized as expense in the statement of profit and Loss of the year in which related service is rendered. post employment and other long term employee benefits are provided in the accounts in the following manner :

i) Gratuity (Defined Benefit plan) : The Company has a Gratuity Fund administered by the Trustees, which is independent of the Company’s finance. The liability in respect of Gratuity has been determined by actuarial valuation following projected Unit Credit Method.

ii) Leave Encashment : According to the prevailing practice of the Company, the employees are allowed to enjoy the leave within the year. No encashment of leave is allowed.

iii) provident Fund (Defined Contribution scheme) : Accounted for on accrual basis based on the monthly contribution made to the appropriate authorities.

Taxes on Income

Income tax is accounted for in accordance with Accounting standard (As-22) - “Accounting for Taxes on Income”. Current Tax is calculated on the taxable income using prevailing tax rate and applicable tax laws.

Deferred tax is provided and recognised on timing differences between taxable income and accounting income subject to prudential consideration.

Deferred tax assets on unabsorbed depreciation and carry forward losses are not recognized unless there is a virtual certainty about availability of future taxable income to realise such assets.

Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised when there is a present legal or statutory obligation as a result of past events and where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

Contingent Liabilities are recognised only when there is a possible obligation arising from past events due to occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be made. obligations are assessed on an ongoing basis and only those having a largely probable outflow of resources are provided for.

Contingent Assets are not recognized in the Financial statements.

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `585 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `890 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `483 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `172 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `151 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `388 Cr की बिकवाली की
  • CS ON BHEL : Outperform रेटिंग, लक्ष्य `88/Sh
  • CS ON CADILA HEALTH : Neutral रेटिंग, लक्ष्य `251/Sh
  • CS ON PIDILITE IND : Underperform रेटिंग, लक्ष्य `1245/Sh
  • MACQUARIE ON BHEL : Neutral रेटिंग, लक्ष्य घटाकर `58/Sh

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(August 06, 2018)

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