Abhayam Trading Ltd. कंपली की लेखा नीति

Mar 31, 2014

1.1 Accounting Conventions & Concepts: The Company follows the historical cost convention and the Mercantile system of Accounting where the income and expenditure are recognized on accrual basis and comply with the provisions of the Companies Act, 1956 and accounts have been prepared and presented based on the Revised Schedule VI, which has become mandatory from 01st April, 2011

1.2 Lease Income: Lease Income is accounted on the basis of accrual of lease rentals for the year.

1.3 Hire Purchase Income: Hire Purchase Income is recognized on the basis of Capital Recovery Method of Hire Purchase Accounting wherein the Hire Purchase Installments are apportioned between the Principal outstanding and Interest so as to give a constant periodic return over the period of agreement.

1.4 Income from Sale of Assets: Income from sale of assets is recognized on the basis of sale proceeds for these assets net off relevant costs, depreciation and lease terminal adjustment.

1.5 Fixed Assets: Fixed Assets are valued at Cost less Depreciation. Cost includes all expenditure incurred to bring the asset into its working condition.

1.6 Depreciation: The Company provides depreciation under written down value method pro-rata on completed month basis at the rates specified in Schedule XTV of the Companies Act, 1956.

On the leased assets depreciation is provided as per the guidelines issued by the Institute of Chartered Accountants of India so as to depreciate the leased assets over the primary period of lease.

On certain assets eligible for 100% depreciation under Income Tax Act, 1961, the Company has continued to provide depreciation at the general rate applicable to Plant & Machinery.

1.7 Investments: Long Term Investments are stated at cost and provision for decline in value, other than temporary, has been made wherever necessary.

1.8 Stock on Hire: Stock on Hire is shown net of unmatured finance charges as reduced by securitized hire purchase receivables net of security deposit and margin. The Stock on Hire is shown net of write off for Bad and Doubtful accounts and other reductions.

1.9 Sundry Debtors: Sundry Debtors are reduced by write off for Bad and Doubtful accounts.

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Mar 31, 2013

1.1 Accounting Conventions & Concepts: The Company follows the historical cost convention and the Mercantile system of Accounting where the income and expenditure are recognized on accrual basis and comply with the provisions of the Companies Act, 1956 and accounts have been prepared and presented based on the Revised Schedule VI, which has become mandatory from 01st April, 2011

1.2 Lease Income: Lease Income is accounted on the basis of accrual of lease rentals for the year.

1.3 Hire Purchase Income: Hire Purchase Income is recognized on the basis of Capital Recovery Method of Hire Purchase Accounting wherein the Hire Purchase Installments are apportioned between the Principal outstanding and Interest so as to give a constant periodic return over the period of agreement.

1.4 Income from Sale of Assets: Income from sale of assets is recognized on the basis of sale proceeds for these assets net off relevant costs, depreciation and lease terminal adjustment.

1.5 Fixed Assets: Fixed Assets are valued at Cost less Depreciation. Cost includes all expenditure incurred to bring the asset into its working condition.

1.6 Depreciation: The Company provides depreciation under written down value method pro-rata on completed month basis at the rates specified in Schedule XIV of the Companies Act, 1956.

On the leased assets depreciation is provided as per the guidelines issued by the Institute of Chartered Accountants of India so as to depreciate the leased assets over the primary period of lease.

On certain assets eligible for 100% depreciation under Income Tax Act, 1961, the Company has continued to provide depreciation at the general rate applicable to Plant & Machinery.

1.7 Investments: Long Term Investments are stated at cost and provision for decline in value, other than temporary, has been made wherever necessary.

1.8 Stock on Hire: Stock on Hire is shown net of unmatured finance charges as reduced by securitized hire purchase receivables net of security deposit and margin. The Stock on Hire is shown net of write off for Bad and Doubtful accounts and other reductions.

1.9 Sundry Debtors: The Company follows the prudential norms for income recognition and provisioning for bad and doubtful debts as prescribed by the Reserve Bank of India for Non-Banking Finance Companies. Sundry Debtors are reduced by write off for Bad and Doubtful accounts.

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Mar 31, 2011

1. Accounting Conventions & Concepts: The Company follows the historical cost convention and the Mercantile system of Accounting where the income and expenditure are recognized on accrual basis.

2. Lease Income: Lease Income is accounted on the basis of accrual of lease rentals for the year.

3. Hire Purchase Income: Hire Purchase Income is recognized on the basis of Capital Recovery Method of Hire Purchase Accounting wherein the Hire Purchase Installments are apportioned between the Principal outstanding and Interest so as to give a constant periodic return over the period of agreement.

4. Income from Sale of Assets: Income from sale of assets is recognized on the basis of sale proceeds for these assets net off relevant costs, depreciation and lease terminal adjustment.

5. Fixed Assets: Fixed Assets are valued at Cost less Depreciation. Cost includes all expenditure incurred to bring the asset into its working condition.

6. Depreciation: The Company provides depreciation under written down value method pro-rata on completed month basis at the rates specified in Schedule XIV of the Companies Act, 1956.

On the leased assets depreciation is provided as per the guidelines issued by the Institute of Chartered Accountants of India so as to depreciate the leased assets over the primary period of lease.

On certain assets eligible for 100% depreciation under Income Tax Act, 1961, the Company has continued to provide depreciation at the general rate applicable to Plant & Machinery.

7. Investments: Long Term Investments are stated at cost and provision for decline in value, other than temporary, has been made wherever necessary.

8. Stock on Hire: Stock on Hire is shown net of unmatured finance charges as reduced by securitised hire purchase receivables net of security deposit and margin. The Stock on Hire is shown net of write off for Bad and Doubtful accounts and other reductions.

9. Sundry Debtors: The Company follows the prudential norms for income recognition and provisioning for bad and doubtful debts as prescribed by the Reserve Bank of India for Non-Banking Finance Companies. Sundry Debtors are reduced by write off for Bad and Doubtful accounts.

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Mar 31, 2010

1. Accounting Conventions & Concepts: The Company follows the historical cost convention and the Mercantile system of Accounting where the income and expenditure are recognized on accrual basis.

2. Lease Income: Lease Income is accounted on the basis of accrual of lease rentals for the year.

3. Hire Purchase Income: Hire Purchase Income is recognized on the basis of Capital Recovery Method of Hire Purchase Accounting wherein the Hire Purchase Installments are apportioned between the Principal outstanding and Interest so as to give a constant periodic return over the period of agreement.

4. Income from Sale of Assets: Income from sale of assets is recognized on the basis of sale proceeds for these assets net off relevant costs, depreciation and lease terminal adjustment.

5. Fixed Assets: Fixed Assets are valued at Cost less Depreciation. Cost includes all expenditure incurred to bring the asset into its working condition.

6. Depreciation: The Company provides depreciation under written down value method pro-rata on completed month basis at the rates specified in Schedule XIV of the Companies Act, 1956.

On the leased assets depreciation is provided as per the guidelines issued by the Institute of Chartered Accountants of India so as to depreciate the leased assets over the primary period of lease.

On certain assets eligible for 100% depreciation under Income Tax Act, 1961, the Company has continued to provide depreciation at the general rate applicable to Plant & Machinery.

7. Investments: Long Term Investments are stated at cost and provision for decline in value, other than temporary, has been made wherever necessary.

8. Stock on Hire: Stock on Hire is shown net of unmatured finance charges as reduced by securitised hire purchase receivables net of security deposit and margin. The Stock on Hire is shown net of write off for Bad and Doubtful accounts and other reductions.

9. Sundry Debtors: The Company follows the prudential norms for income recognition and provisioning for bad and doubtful debts as prescribed by the Reserve Bank of India for Non-Banking Finance Companies. Sundry Debtors are reduced by write off for Bad and Doubtful accounts.

10. Retirement Benefits: Contributions to Provident fund and Superannuation Funds are accounted on the basis of actual liability. Gratuity provision/contribution is made on estimated basis.