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डेक्कन क्रॉनिकल होल्डिंग्स

बीएसई: 532608  |  NSE: DCHL  |  ISIN: INE137G01027  |  Media & Entertainment

खोजें डेक्कन क्रॉनिकल होल्डिंग्स कनेक्शन मार्च 11
लेखांकन नीति साल : सितम्बर '12
1.1. Basis for preparation of financial statements

The financial statements have been prepared in accordance with the Accounting Standards as specified in the Companies (Accounting Standards) Rules, 2006 to the extent applicable. The accounts are prepared under historical cost convention and ongoing concern basis, with revenue recognized, expenses accounted on their accrual and in accordance with Generally Accepted Accounting Principles in India. The accounting policies have been consistently applied and followed by the Company.

1.2. Use of estimates

The preparation of financial statements in conformity with Indian GAAP requires the management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities, at the date of the financial statements and of the result of operations during the reporting period. Although these estimates are based upon management's best knowledge of current events and actions, uncertainty about these assumptions and estimates could result in the outcomes requiring a material adjustment to the carrying amount of assets or liabilities in future periods.

1.3. Inventory

Raw materials, stores, spares and& consumables useable in the printing and publication of newspapers and periodicals are valued at cost on FIFO basis. Cost includes applicable taxes, duties and transportation, handling and interest cost. Inventories of Odyssey stores are valued at the lower of cost and net realizable value. Cost is determined by the weighted average cost method.

1.4. Fixed assets and depreciation

Fixed Assets are stated at cost of acquisition less accumulated depreciation. Expenditure which are of capital in nature are capitalized at cost, which comprises of purchase price (net of rebates and discounts), import duties, levies and all other expenditure directly attributable to cost of bringing the asset to its working condition for its intended use. Financing costs relating to acquisition of fixed assets are also included to the extent they relate to the period till such assets are ready to put to use. Depreciation on fixed assets is provided on the basis of Straight Line Method, at the rates and in the manner prescribed in the Schedule XIV to the Companies Act, 1956. On additions and disposals, depreciation is provided for the period of use during the period under report. Brand and Editorial content property rights relating to Asian Age grouped under Intangibles which we are acquired are amortized on straight line basis over period often years.

1.5. Capital work in progress

Advances paid towards the acquisition of fixed assets and direct expenses pertaining to the cost of those assets, not put to use before the period end are disclosed under 'Capital work in progress'.

1.6. Revenue recognition

Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Specifically, the following basis is adopted.

Advertisements: Advertisement revenue is recognized, net of discount and commission, as and when advertisement is published/sold. Further, advertisement revenue earned, as per arrangement with BCCI, from sale of media rights, ticket revenue from the viewer ship in stadium, sponsorship and in-stadia advertisement etc., are recognized on accrual / intimation by BCCI.

Circulation Revenue: Circulation revenue is recognized, net of commission, on dispatch of newspapers and periodicals.

Sale of merchandise: Revenue from sale of merchandise is recognized when significant risks and rewards in respect of ownership of products are transferred to the customer.

Other Operating Income: Sale of scrap is recognized upon passing of title/sale invoice is made and interest income is recognized on time proportionate basis.

1.7. Foreign currency transactions

Foreign exchange transactions are accounted at the rates prevailing on the date of transactions. Monetary assets and liabilities relating to foreign currency transactions unsettled at the end of the period are translated at period end rates. The difference in translation of monetary assets and liabilities and realized gains and losses on foreign exchange transactions are recognized in the Statement of Profit and Loss.

1.8. Retirement benefits

Retirement benefits in the form of Provident Fund are charged to the Statement of Profit & Loss of the period when the contributions to the respective funds are due and/or paid. Gratuity, which is a defined benefit plan, is provided as per actuarial valuation, determined by an independent actuary, as on balance sheet date.

1.9. Borrowing costs

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalized as part of the cost of such asset. A qualifying asset is one that requires substantial period of time to get ready for its intended use. All other borrowing costs are charged to Statement of Profit and Loss.

1.10. Leases

Assets taken on finance lease are capitalized at the inception of the lease at the lower of the fair value or the present value of minimum lease payments and a liability is created for an equivalent amount. Each lease rental paid is allocated between the liability and interest cost, so as to obtain a constant periodic rate of interest on outstanding liability for each period. Operating leases in respect of office and other equipment, house for employees, Office buildings are cancelable/ renewable by mutual consent on agreed terms. Lease payments under an operating lease are recognized as an expense in the Statement of Profit and Loss.

1.11. Earnings per share

Basic and Diluted Earnings Per Share (EPS) is reported in accordance with Accounting Standard 20 on Earning Per Share. EPS is computed by dividing the net profit or loss after tax for the period by weighted average number of Equity shares outstanding during the period. Diluted EPS is computed by dividing the net profits or loss after tax for the period by the weighted average number of equity shares outstanding during the period as adjusted for the effects of all dilutive potential equity shares, except where the results are anti-dilutive.

1.12. Taxation

Provision for Current tax is made based on the tax liability computed in accordance with the relevant tax rates and provisions of Income Tax Act, 1961. Deferred tax is measured based on the tax rates and tax laws enacted or substantially enacted at the Balance Sheet date. Deferred tax assets are recognized only to the extent that there is reasonable certainty that sufficient future taxable income will be available against which deferred tax assets can be realized.

1.13. impairment of Fixed assets

An Asset is treated as impaired when the carrying value of assets exceeds its recoverable value. An impairment loss is charged to Statement of Profit & Loss as an expense immediately, when the asset is identified as impaired. The impairment loss recognized in prior accounting period is reversed if there has been a change in the estimate of recoverable amount based on external and internal sources of information.

1.14. Provisions, contingent liabilities and contingent assets

The Company recognizes a provision when there is a present obligation as a result of past obligating 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 ore present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation ore present obligation that the likelihood of outflow of resources is remote, no provision is made.

1.15. Cash Flow Statement

The Cash Flow Statement is prepared under the indirect method as per Accounting Standard 3Cash Flow Statement.

1.16. Segment Reporting

The Company is primarily in the business of printing and publication of newspapers and periodicals and related advertisement revenues. The Company's operations are geographically spread across India and do not have any operations in economic environments with different risks and returns. Accordingly, pursuant to the accounting standards, no segment disclosure has been made in these financial statements, as the Company has only one geographical segment.

स्रोत: रेलीगरे टेचनोवा

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