मैट्रिक्स
 
 
moneycontrol.com भारत | लेखांकन नीति > Diamond Cutting & Jewellery & Precious Metals > लेखांकन नीति फॉलोड से श्री गणेश ज्वेलरी हाउस - बीएसई: 533180, NSE: SGJHL

श्री गणेश ज्वेलरी हाउस

बीएसई: 533180  |  NSE: SGJHL  |  ISIN: INE553K01019  |  Diamond Cutting & Jewellery & Precious Metals

खोजें श्री गणेश ज्वेलरी हाउस कनेक्शन मार्च 14
लेखांकन नीति साल : मार्च '15
 (i) Basis of preparation of financial statements
 
 The financial statements have been prepared and presented under the
 historical cost convention on the accrual basis of accounting following
 Generally Accepted Accounting Principles in India (''GAAP'') and comply
 with the relevant Accounting Standards and the relevant provisions
 notified under the Companies Act, 2013 to the extent applicable.
 
 (ii) Use of estimates
 
 The preparation of financial statements in conformity with GAAP
 requires management to make estimates and assumptions that affect the
 reported amounts of assets and liabilities and the disclosure of
 contingent liabilities on the date of the financial statements. Actual
 results could differ from those estimates. Any revision to accounting
 estimates is recognised prospectively in current and future periods.
 
 (iii) Fixed assets
 
 Fixed assets are carried at cost of acquisition or construction, less
 accumulated depreciation. The cost of fixed assets includes freight,
 duties (net of VAT), taxes and other incidental expenses that are
 directly attributable to bringing assets to their working condition for
 their intended use. Intangible Assets are stated at cost of acquisition
 net of accumulated depreciation / depletion and impairment loss, if
 any.
 
 (iv) Borrowing Cost
 
 Borrowing costs that are attributable to the acquisition or
 construction of qualifying assets are capitalised as a part of the cost
 of such assets. A qualifying asset is one that necessarily takes
 substantial period of time to get ready for intended use.  All other
 borrowing costs are charged to revenue.
 
 (v) Depreciation/Amortisation
 
 Depreciation is provided based on useful life of assets as prescribed
 in Schedule II to the Companies Act, 2013.
 
 Leasehold properties are amortised over useful life of the assets as
 estimated by management or the period of lease, whichever is lower.
 
 Fixed assets individually costing Rs. 5,000 or less, are depreciated
 fully in the year of acquisition.
 
 Goodwill arising on amalgamation is amortised over its estimated useful
 life of 5 years.
 
 (vi) Impairment of fixed assets
 
 At each Balance Sheet date, management assesses, using external and
 internal sources, whether there is an indication that an asset may be
 impaired. An impairment occurs when the carrying value of an asset
 exceeds the present value of future cash flows expected to arise from
 the continuing use of the asset and its eventual disposal. The
 impairment loss to be expensed is determined as the excess of the
 carrying amount over the present value as determined above.
 
 (vii) Investments
 
 Long term investments are stated at cost less amount written off where
 there is a diminution in value other than temporary.  Short term
 investments are valued at cost or net realisable value, whichever is
 lower.
 
 (viii) Inventories
 
 Year-end inventory of raw materials and stones are carried at cost (net
 of VAT, wherever applicable). The carrying cost of raw materials and
 stones is appropriately written down when there is a decline in
 replacement cost of such materials and the finished products in which
 they will be incorporated are expected to be sold below cost.
 
 Year-end inventory of work in progress and finished goods are valued at
 the lower of cost and net realisable value. Cost of work in progress
 and finished goods comprises of direct material and labour expenses and
 an appropriate portion of production overheads incurred in bringing the
 inventory to their present location and condition. Fixed production
 overheads are allocated on the basis of the production.
 
 In determining cost, first in first out method is used.
 
 Alloys and consumables are charged off to Profit and Loss Account.
 
 (ix) Revenue recognition
 
 Revenue from sale of goods is recognised on transfer of risk and
 rewards of ownership of goods to the buyer. Sales are stated exclusive
 of sales tax. Excise duty is not applicable to the company. In respect
 of contract for sale of goods at prices that are yet to be fixed at the
 year end, adjustments to the provisional amount billed to the customers
 are recognised based on the year end closing gold rate.
 
 Revenue from job work are recognised on an accrual basis when the
 related job work is rendered.
 
 In respect of commodity exchange transactions undertaken by the
 company, net gain/loss arising from settlement of such transactions
 during the year or restatement of such transactions that are pending
 settlement at the year end are recognised in the Profit and Loss
 account for the year. In respect of commodity exchange transaction
 undertaken on behalf of customers, brokerage received/receivable is
 recognised on accrual basis when transactions are entered into on
 behalf of the customers.
 
 Third party sales commission is recognised on an accrual basis in
 accordance with the terms of the related agreement.  Interest is
 recognised on time proportion basis.
 
 (x) Employee benefits
 
 The Company''s obligation towards various employee benefits have been
 recognised as follows:
 
 Short Term Benefits
 
 Cost of non-accumulated compensated absences is recognised when
 absences occur. Cost of other short term employee benefits are
 recognised on accrual basis based on the terms of employment contract
 and other relevant compensation policies followed by the Company.
 
 Post employment benefits
 
 Monthly contribution to Provident Funds, which is defined contribution
 scheme, is charged to Profit and Loss account and deposited with the
 Regional Provident Fund Authorities on a monthly basis.
 
 The Company''s gratuity scheme is a defined benefit plan. The present
 value of the obligation under such defined benefit plan is determined
 based on actuarial valuation carried out at the year end using the
 Projected Unit Credit Method, which recognises each period of service
 as giving rise to additional unit of employee benefit entitlement and
 measures each unit separately to build up the final obligation. The
 obligation is measured at the present value of the estimated future
 cash flows. The discount rates used for determining the present value
 of obligation under defined benefit plan is based on the market yield
 on government securities as at the Balance Sheet date and have maturity
 period approximating to the terms of the obligation. Actuarial gains
 and losses are recognised immediately in the Profit and Loss Account.
 
 (xi) Operating Leases
 
 Lease rentals for operating leases are recognised as expenses in the
 Profit and Loss Account on a straight line basis over the lease term.
 
 (xii) Foreign exchange transactions
 
 Transactions in foreign currency are recognised at the exchange rates
 prevailing on the date of the transactions. Year-end monetary assets
 and liabilities denominated in foreign currencies, other than those
 covered by foreign exchange contracts, are translated at the year-end
 foreign exchange rates.
 
 Gain / loss from exchange differences arising on settlement of foreign
 currency transaction or translation of year-end monetary assets and
 liabilities in foreign currency are recognised in the Profit and Loss
 Account for the year.
 
 In case of forward exchange contracts, premium or discounts on such
 contracts are amortised over the life of the contract and exchange
 differences arising thereon in the reporting period are recognised in
 the Profit and Loss Account.
 
 Translation of integral and non integral foreign operation
 
 The company classifies all its foreign operations as either integral
 foreign operations or non integral foreign operations.
 
 The financial statements of an integral foreign operation are
 translated as if the translations of the foreign operation have been
 those of the Company itself.
 
 The assets and liabilities of an non-integral foreign operation are
 translated into the reporting currency at the exchange rate prevailing
 at the reporting date and their statement of profit and loss are
 translated at exchange rates prevailing at the dates of transactions or
 weighted average weekly rates, where such rates approximate the
 exchange rate at the date of transaction. The exchange difference
 arising on translation are accumulated in the foreign currency
 translation reserve. On disposal of a non-integral foreign operation,
 the accumulated foreign currency translation reserve relating to that
 foreign operation is recognized in the statement of profit and loss.
 
 (xiii) Taxation
 
 Income tax expense comprises current taxes (i.e. amount of taxes for
 the year determined in accordance with the Income Tax Act, 1961) and
 Deferred Tax charge or credit (reflecting the tax effects of timing
 differences between accounting income and taxable income for the
 period). The Deferred Tax charge or credit and the corresponding
 Deferred Tax liabilities or assets are recognised using the tax rates
 that have been enacted or substantively enacted by the Balance Sheet
 date.
 
 Deferred Tax assets are recognised only to the extent that there is
 reasonable certainty that the assets can be realised in future except
 for Deferred Tax assets arising from unabsorbed depreciation or
 business losses brought forward from prior years that are recognised
 only if there is a virtual certainty of realisation of such assets.
 Deferred Tax assets are reviewed as at each Balance Sheet date and
 written up or down to reflect the amount that is reasonably / virtually
 certain (as the case may be) to be realised.
 
 The Company''s units, located in Special Economic Zone (SEZ) are
 exempted from income tax (current tax) and one unit is partly exempted
 till 31st March, 2014 under the provisions of Section 10AA of the
 Income Tax Act, 1961. However Minimum Alternate Tax (MAT) is applicable
 in the profits derived from units located in Special Economic Zone
 (SEZ) w.e.f. 1st April, 2011. Deferred Tax pertaining to the above
 units are recognised on timing differences, being the difference
 between taxable income and accounting income, that originate in one
 period and are capable of reversal in one or more subsequent periods
 beyond the periods during which the respective units are exempt from
 income tax as aforesaid. Deferred tax assets on unabsorbed depreciation
 and / or carry forward of losses are recognised only if there is
 virtual certainty that sufficient future taxable income will be
 available against which such Deferred Tax assets will be realised. Such
 assets are reviewed as at each Balance Sheet date to reassess
 realisability thereof.
 
 (xiv) Provisions and contingent liabilities
 
 A provision is recognised in the financial statements when there exists
 a present obligation as a result of a past event, the amount of which
 can be reliably estimated and it is probable that an outflow of
 resources will be required to settle the obligation. Contingent
 liability is a possible obligation that arises from past events and the
 existence of which will be confirmed only by the occurrence or
 non-occurrence of one or more uncertain future events not wholly within
 the control of the Company or is a present obligation that arises from
 past events but is not recognised because either it is not probable
 that an outflow of resources embodying economic benefits will be
 required to settle the obligation, or the amount of the obligation
 cannot be reliably estimated.
 
 (xv) Earnings Per Share
 
 Basic Earnings Per Share is computed using the weighted average number
 of equity shares outstanding during the period.  Diluted earnings per
 share is computed using the weighted average number of shares and
 dilutive equity equivalent shares outstanding during the period, except
 when results would be anti dilutive.
 
 
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `5,024 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `248 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `10 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `162 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `1358 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `1205 Cr की बिकवाली की
  • CLSA ON NIFTY 50 : सितंबर के निचले स्तर से बाजार में मजबूती का रूख
  • CLSA ON NIFTY 50 : निफ्टी 12118 के पार निकला तो 13,800 तक पहुंचना संभव
  • HSBC ON RELIANCE IND : BUY रेटिंग, लक्ष्य बढ़ाकर `1700/Sh
  • MACQUARIE ON IGL : Neutral रेटिंग, लक्ष्य बढ़ाकर `420/Sh

अभी देखें

पहला सौदा

OUR WINNING PICKS

DID YOU INVEST?

INTRADAY PICKS!

(August 06, 2018)

AT (Rs)



GAIN (Rs)

ALL TIME WINNERS

RECO PRICE

PEAK PRICE

OUR PACKAGES

Super Combo

Powerful mix of both trader and investor packs with timely expert advice.

Technical

Designed especially for traders looking to tap the profit opportunities of volatile markets.

Fundamental

For all investors looking to unearth stocks that are poised to move.