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moneycontrol.com भारत | लेखांकन नीति > Ceramics & Granite > लेखांकन नीति फॉलोड से वर्टिकल इंडस्ट्रीज - बीएसई: 515099, NSE: N.A

वर्टिकल इंडस्ट्रीज

बीएसई: 515099  |  NSE: N.A  |  ISIN: INE247Q01015  |  Ceramics & Granite

खोजें वर्टिकल इंडस्ट्रीज कनेक्शन मार्च 13
लेखांकन नीति साल : मार्च '14
I. Basis for Preparation of Financial Statements:
 
 These financial statements have been prepared in accordance with the
 generally accepted accounting principles in India under the historical
 cost convention on accrual basis. Pursuant to circular 15/2013 dated
 13.09.2013 read with circular 08/2014 dated 04.04.2014, till the
 Standards of Accounting or any addendum thereto are prescribed by the
 Central Government in consultation and recommendation of the National
 Financial Reporting Authority, the existing Accounting Standards
 notified under Companies Act, 1956 shall continue to apply.
 
 Consequently, these financial statements have been prepared on the
 basis of going concern, under the historical cost convention on the
 accrual basis, to comply in all material aspects with applicable
 Accounting Standards issued by the Institute of Chartered Accountants
 of India (ICAI) and notified under Section 211(3c) (Companies
 (Accounting Standards) Rules, 2006, as amended) and other relevant
 provisions of the Companies Act, 1956.
 
 All the assets and liabilities have been classified as current or
 non-current as per the Company''s normal operating cycle and other
 criteria set out in Schedule VI to the Companies Act, 1956.  Based on
 the nature of products and the time between the acquisition of assets
 for processing and their realization in cash and cash equivalent, the
 Company has ascertained its operating cycle to be in 12 months for the
 purpose of current - noncurrent classification of assets and
 liabilities.
 
 II. Use of Estimates:
 
 The preparation and presentation of financial statements requires
 estimates and assumptions and/or revised estimates and assumptions to
 be made that affect the reported amount of assets and liabilities on
 the date of financial statements and reported amount of revenues and
 expenses during the reporting period. Differences between the actual
 results and estimates are recognized in the period in which the results
 are known/materialised.
 
 III. Valuation of Inventories:
 
 Finished and semi-finished products produced and purchased by the
 Company are carried at lower of cost and net realizable value.
 Work-in-progress is carried at lower of cost and net realisable value.
 Stores and spare parts are carried at cost.
 
 IV. Revenue Recognition:
 
 (i) Revenues /Incomes and Costs/Expenditure are generally accounted on
 accrual, as they are earned or incurred.
 
 (ii) Sale of Goods is recognized on transfer of significant risks and
 rewards of ownership which is generally on the dispatch of goods.
 
 (iii) Company generally follows the mercantile system of accounting and
 recognizes income and expenses on accrual basis, including provisions
 or adjustments for committed obligations and amounts demined as payable
 or receivable during the year.
 
 V. Fixed Assets & Method of Depreciation:
 
 There are no fixed assets for the company. Hence AS-10 Accounting for
 Fixed assets and AS-6 Accounting for Depreciation'' are not applicable
 to the company for this financial year.
 
 VI. Foreign CurrencyTransactions:
 
 There is no foreign currency transaction for the company during the
 year; hence AS-11 Accounting for foreign exchange is not applicable
 for this year.
 
 VII. Employee Benefits:
 
 Expenses and Liabilities in respect of employee benefits are recorded
 in accordance with Revised Accounting Standard 15 - Employee Benefits
 (Revised 2005) issued by the Institute of Chartered Accountants of
 India (the ICAI).
 
 VIII. Earnings per share:
 
 Basic earnings per share is computed by dividing the profit/ (loss)
 after tax (including the post-tax effect of extraordinary items, if
 any) by the weighted average number of equity shares outstanding during
 the year.
 
 The weighted average number of equity shares outstanding during the
 period is adjusted for events including a bonus issue, bonus element in
 a rights issue to existing shareholders, share split and reverse share
 split (consolidation of shares).
 
 For the purpose of calculating diluted earnings per share, the net
 profit or loss for the period attributable to equity shareholders and
 the weighted average number of shares outstanding during the period are
 adjusted for the effects of all dilutive potential equity shares.
 
 IX. Related PartyTransactions:
 
 During the Financial Year 2013-2014, there is no transaction made with
 related party, therefore the Accounting standard-18 Related Party
 disclosure is not required.
 
 X. Taxes on Income:
 
 Income-tax expense comprises current tax and deferred tax charge or
 credit. Provision for current tax is made on the basis of the
 assessable income at the tax rate applicable to the assessment year
 2014-15. Deferred tax asset and liability is calculated by applying tax
 rate and tax laws that have been enacted or substantively enacted by
 the Balance sheet date.
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `637 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `468 Cr की बिकवाली की
  • MARKET CUES : FIIs ने F&O में `2005 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `494 Cr की खरीदारी
  • MARKET CUES : इंडेक्स ऑप्शंस में `2119 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `596 Cr की बिकवाली
  • MARKET CUES : स्टॉक ऑप्शंस में `12 Cr की बिकवाली
  • CITI ON DLF : Sell रेटिंग, लक्ष्य `144/Sh
  • MS ON DLF : Overweight रेटिंग, लक्ष्य `211/Sh
  • CLSA ON DLF : Buy रेटिंग बरकरार, लक्ष्य `190/Sh

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