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moneycontrol.com भारत | लेखांकन नीति > Miscellaneous > लेखांकन नीति फॉलोड से इंडिया इंटरनैशनल मार्केटिंग सेंटर - बीएसई: 531053, NSE: N.A

इंडिया इंटरनैशनल मार्केटिंग सेंटर

बीएसई: 531053  |  NSE: N.A  |  ISIN: INE506C01014  |  Miscellaneous

खोजें इंडिया इंटरनैशनल मार्केटिंग सेंटर कनेक्शन मार्च 03
लेखांकन नीति साल : मार्च '08
Basis of preparation of financial statement: The financial statements
 have been prepared under the historical cost convention on the accrual
 basis of accounting. The generally accepted accounting principal and
 the accounting standards referred under section 211 (3C) of the
 Companies Act. 1056 and mandator Accounting standers issued by the
 institute of chartered Accountants of the India have been adopted by
 the company. These statements also comply with the companies Act. 1956.

Fixed Assets: Fixed Assets are stated at cost of acquisition inclusive of inward, freight, duties, taxes & incidental expenses related to acquisition less accumulated depreciation.

Depreciation: Depreciation on fixed assets is provided on written down value method in accordance with the rates specified in schedule XIV of the companies Act, 1956 except in the case of factory building where no depreciation has been provided, as die buiding is not in use.

Inventories: Inventories a re valued at cost or net realizable value, whichever is lower.

Investment: Long term investment:, in shares of wholly owned subsidiary company at Rotterdam are value at cost less the value of permanent diminution in the net worth of the subsidiary company as at 3 1.03.2008. The net worth of the subsidiary company convened at the exchange rate prevailing at the end of the year is considered as the present value of investment & difference of the same from previous year value have been provided during the year either as provision or written back of provision in diminution in the value of investment.

Doubtful Debts: Bad Debts are being written of the basis of the perception of management.

Revenue Recognition:

(I) Revenue from sale product is recognized when the products are delivered or dispabed against order of the customers in accordance with the contract terms.

(II) income from services accrues as per the agreed tern, and conditions.

(III) Export incentives are accounted for either at the time of receipt of incentive receipt or at the time of sale of export licenses.

Transacation is foreign curencies:

(IV) Transactions denominated in foreign currency are normally recorded at exchange rate prevailing at the date of transaction.

(V) Monetary items denominated in foreign currency arc restated at the exchange rate prevailing at the year end and overall net gain/loss is adjusted to the profit & losses account, except in the case of liabilities relating to acquisition of fixed assess, which are adjusted to the carrying cost of the relative assets.

(VI) Gains/losses arising out of fluctuations in foreign exchange rate between the transactions date and settlements date are recognized in the profit & loss account, except in the ease of fixed assets, where theses are adjusted to the carrying cost of the respective assets.

(VII) Monetary items denominated in foreign currencies at the year end not covered by forward - exchange contracts are translated at year end rates and those covered by foreign connects are translated at rate at the date of transaction as increased or decreased by the proportionate difference between the forward rate and exchange rate on the date of transaction and such difference have been recognized, over the life of the contract.

Retirement Benefit: Gratuity provision is made on the basis of actual computation of liability on all existing employees as at the end of the year.

Taxation: Income Tax exnenses comprises current income tax if any determined to be payable in respect of taxable income and defe. red tax charge or release. The deferred tax charge or credit is recognized using current fixed rates. The defired tax being the tax effect of liming difference; representing the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent years.

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `3336.6 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `2785.67 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `774.34 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `1262.06 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `1740.57 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `1477.38 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `224.53 Cr की खरीदारी
  • CORONAVIRUS OUTBREAK : नार्वे में कोरोना वायरस का पहला मामला सामने आया
  • CORONAVIRUS OUTBREAK : द. कोरिया में कोरोना वायरस के 334 नए मामले आए
  • CORONAVIRUS OUTBREAK : चीन मेें कोरोना वायरस से अब तक 2,744 की मौत

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