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moneycontrol.com भारत | लेखांकन नीति > Finance - Investments > लेखांकन नीति फॉलोड से वोलेक्स फाइनेंस एंड इंडस्ट्रीज - बीएसई: 507819, NSE: N.A

वोलेक्स फाइनेंस एंड इंडस्ट्रीज

बीएसई: 507819  |  NSE: N.A  |  ISIN: INE227D01015  |  Finance - Investments

खोजें वोलेक्स फाइनेंस एंड इंडस्ट्रीज कनेक्शन जून 08
लेखांकन नीति साल : जून '09
A.  Basis of Accounting
 
 The accounts and financial statements have been prepared on the
 historical cost basis of accounting and on the basis of going concern
 concept.
 
 B.  Income
 
 1.  In respect of Lease Management Fee, Documentation Charges and Lease
 Rentals arising out of Lease Agreements and Hire Purchase Agreements,
 it is the companys general policy to accrue income as per the terms of
 the agreement entered into with the lessees/hirers.
 
 2.  In respect of certain specified lease transactions, which are under
 litigation/arbitration, the company has not provided the lease income.
 
 3.  Dividend declared within the close of the accounting year only are
 accounted for in respect of investments held by the company.
 
 4.  Interest income in respect of loans etc which are under
 litigation/arbitration for considered doubtful is not provided for.
 
 5.  Income from bills/Hundies discounted is accounted fully at the time
 of discounting.
 
 6.  Delayed payment charges are accrued on the basis of certainty of
 realisation.
 
 7. In respect of other heads of income, the company follows the practice
 of accounting for such income on accrual basis.
 
 8. Hire purchase income has been accounted for taking month as a unit.
 
 9. Interest income on refund of share application money is accounted for
 at the time of receipt of the same.
 
 C.  Expenditure
 
 It is the companys policy to provide all expenses on accrual basis
 except sales tax, which is accounted for at the time of payment.
 
 D.  Depreciation
 
 The Company has provided depreciation on fixed assets on straight line
 method in accordance with rates and basis prescribed in Schedule XTV to
 the Companies Act, 1956 applicable at the time of acquisiton/ purchase
 of respective assets.
 
 E.  Fixed Assets
 
 Fixed Assets are stated at cost less depreciation and lease
 adjustments.
 
 F.  Investment
 
 Investments are stated at cost plus any ancidental expenses thereto.
 
 G.  Valuation of Inventories : At lower of cost or net realisable value
 
 H. Foreign Currency Transactions
 
 Monies receivable/payable in foreign currency, if any, are converted
 into Indian Rupees at the exchange rate prevailing as on Balance Sheet
 date. Exchange fluctuation in respect of the same are accounted for in
 the year of receipt or payment.
 
 I.  Retirement Benefits
 
 Contributions are made under the relevant rules/statues for Provident
 Fund which is charged to Profit & Loss Account on accrual basis. The
 companys liability towards gratuity and Leave Encashment benefit is
 accounted for on the basis of liability estimated by the management as
 per Companys rules.
 
 J.  Contingent Liabilities
 
 Disputed liabilities and claims against the company are treated as
 contingent liabilities. Claims against the company are reduced by
 amount payable by lessees/hirers or insurance companies and counter
 claims of the Company in order to determine contingent liability.
 
 K. Taxes on Income
 
 i) Provision for current income tax is determined on the basis of the
 assessable income under the Income Tax Act, 1961
 
 ii) Provision for deferred Income tax^is calculated at the current
 income tax rate and is recognised on timing differences between taxable
 income and accounting income that originate in one period and are
 capable of reversal in one or more subsequent periods. Deferred tax
 asset, subject to the consideration of prudence are recognized and
 carried forward only to the extent that there is a reasonable certainty
 that sufficient future taxable income will be available against which,
 such deferred tax asset can be realised/adjusted.
 
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

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