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moneycontrol.com भारत | लेखांकन नीति > Computers - Software Medium & Small > लेखांकन नीति फॉलोड से स्टर्लिंग इंटरनैशनल एंटरप्राइजेज - बीएसई: 508998, NSE: N.A

स्टर्लिंग इंटरनैशनल एंटरप्राइजेज

बीएसई: 508998  |  NSE: N.A  |  ISIN: INE696C01021  |  Computers - Software Medium & Small

खोजें स्टर्लिंग इंटरनैशनल एंटरप्राइजेज कनेक्शन जून 15
लेखांकन नीति साल : मार्च '16

. SIGNIFICANTACCOUNTINGPOLICIES

A. Basis of preparation

These financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India (''Indian GAAP'') to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost convention on accrual basis, except for certain financial instruments which are measured at fair value.

B. Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported balances of assets and liabilities, disclosure related to contingent liabilities as at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of such estimates include estimates of expected contract costs to be incurred to complete software development, provision for doubtful debts, and the useful life of fixed assets. Actual results could differ from these estimates.

C. Revenue recognition

Revenue from fixed-price contracts is recognized principally on the basis of completed milestones as specified in the contracts, on a percentage of completion basis. Where milestones are not representative of the percentage of completion method, estimates of work completed to the Balance Sheet date are used to recognize revenue on fixed-price contracts. Revenue from software developed on a time-and-materials basis is recognized as per the terms of specific contracts.

D. Fixed Assets

Fixed assets are stated at the cost of acquisition or construction, less accumulated depreciation. Direct costs are capitalized until the assets are ready to be put to use.

E. Depreciation

Depreciation is provided on a straight-line method basis over the useful life of assets, which is as stated in Schedule II of the Companies Act, 2013 or based on technical estimate made by the company.

F. Impairment

The Company assesses at each Balance Sheet date whether there is any indication that any asset may be impaired and if such indication exists, the carrying value of such asset is reduced to its recoverable amount and a provision is made for such impairment loss in the profit and loss account.

G. Foreign Currency Transactions

Foreign currency transactions during the period are recorded at the exchange rates prevailing on the date of the transaction. Monetary Foreign Currency Items are translated into rupees at the rates of exchange prevailing at the date of the balance sheet. All exchange differences are dealt with in the statement of profit and loss, except for those relating to the acquisition of fixed assets, which are adjusted in the cost of the fixed assets. Non Monetary Foreign Currency Items are carried at Cost.

H. Borrowing Cost

Borrowing cost attributable to the acquisition of fixed assets is included in the cost of asset. The balance borrowing cost is charged to revenue.

I. Investments

Long Term Investments are stated at cost. Other investments are stated at the lower of cost or market value. Any decline, other than temporary in the value of long term investments (including investments in subsidiaries) is charged to the Profit & Loss Account.

J. Current Tax & Deferred Tax

Current Income tax is computed using the tax effect accounting method, where taxes are accrued in the same period the related revenue and expenses arise. Deferred tax asset or liability is recorded for the timing differences. The Deferred tax asset or liability is recognized using the tax rates that have been enacted or substantively enacted by the Balance Sheet date.

K. Export Benefits

The Company accounts for export benefit entitlements under the Duty Entitlement Pass Book Scheme of Government of India, on accrual basis.

L. Contingent Liabilities

Contingent Liabilities as defined in Accounting Standard-29 are disclosed by way of notes to accounts.

M. Change in Accounting Year

Pursuant to Section 2(41) of the Companies Act, 2013, The financial year of the company must end on 31 March, every year. The Company has adopted this change accordingly, the present financial statements are prepared for a period of nine months starting from 01st July 2015 and ending on 31st March 2016. Accordingly, the figures for the current financial year are not comparable to those of the previous year.

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `562 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `83 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `2952 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `442 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `2957 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `465 Cr की खरीदारी की
  • UBS ON BHARTI AIRTEL : BUY रेटिंग, लक्ष्य `415/Sh
  • CS ON UNION BANK : Neutral रेटिंग, लक्ष्य घटाकर `56/Sh
  • CS ON VARROC ENGINEERING : Neutral रेटिंग, लक्ष्य घटाकर `490/Sh
  • CS ON BHARTI AIRTEL : Neutral रेटिंग, लक्ष्य बढ़ाकर `380/Sh

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