India E-Commerce Ltd. कंपली की लेखा नीति

Mar 31, 2015

A] Basis of Accounting:

The financial statements have been prepared in accordance with the generally accepted accounting principles under the historical cost convention on an accrual basis and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and in compliance with the provisions of the Companies Act, 1956.

b] Use of Estimates:

The preparation of the financial statements in conformity with Generally Accepted Accounting Principles (GAAP) requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Differences between the actual results and estimates are recognised in the period in which the results are known/ materialised.

c] Fixed Assets:

Fixed Assets, if any are stated at cost, net of cenvat availed, less accumulated depreciation. Capital work in progress, if any comprises cost of fixed assets that are not ready for its intended use. Exchange gain or loss on adjustments arising from exchange rate variations attributable to the fixed assets is capitalised.

d] Depreciation and amortisation:

Depreciation on fixed assets is provided on straight line method, at the rates and in the manner specified in schedule XIV of the Companies Act, 1956. Depreciations on additions to / deletions from fixed assets is provided on pro-rata basis from / up to the date of such additions / deletions as the case may be. Assets costing less than ' 5,000/- each are fully depreciated in the year of purchase.

e] Impairment of Fixed Assets:

At the end of each reporting period, the company determines whether the provision should be made for impairment loss to fixed assets by considering the indications that the impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets" issued by ICAI. The impairment loss is charged to Statement of Profit and Loss in the period in which an asset is identified as impaired, when the carrying value of assets exceeds its recoverable value. The impairment loss recognised in the earlier periods is reversed, if there has been a change in the estimate of recoverable amount.

f] Leases:

Lease payments under operating leases, if any are recognised as an expense on a straight line basis in the Statement of Profit and Loss over the lease term.

g] Provisions, Contingent Liabilities and Contingent Assets:

A provision is recognised if, as a result of a past event, the company has a present legal obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as a contingent liability. A disclosure of contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent Asets are neither recognised nor disclosed in the financial statements, it becomes probable that an out flow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made. Contingent liabilities and Contingent assets are neither recognised nor disclosed in the accounts.

h] Earning per share:

Basic earning per share is computed by dividing the net profit after tax by weighted average number of equity shares outstanding during the period. Diluted earning per share is computed by dividing the net profit after tax (by adjusting any tax benefits) by the weighted average number of equity shares considered for deriving basic earning per share and also weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.

i] Miscellaneous Expenditure:

Preliminary expenses, if any are amortised and charged-off to Statement of Profit and Loss in the year in which it is incurred.

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Mar 31, 2014

A] Basis of Accounting:

The financial statements have been prepared in accordance with the generally accepted accounting principles under the historical cost convention on an accrual basis and in accordence with the applicable accounting standards issued by the Institute of Chartered Accountants of India and in compliance with the provisions of the Companies Act, 1956.

b] Use of Estimates:

The preparation of the financial statements in confirmity with Generally Accepted Accounting Principles (GAAP) requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Differences between the actual results and estimates are recognised in the period in which the results are known/ materialised.

c] Fixed Assets:

Fixed Assets, if any are stated at cost, net of cenvat availed, less accumulated depreciation. Capital work in progress, if any comprises cost of fixed assets that are not ready for its intended use. Exchange gain or loss on adjustments arising from exchange rate variations attributable to the fixed assets is capitalised.

d] Depreciation and amortisation:

Depreciation on fixed assets is provided on straight line method, at the rates and in the manner specified in schedule XIV of the Companies Act, 1956. Depreciations on additions to / deletions from fixed assets is provided on pro-rata basis from / up to the date of such additions / deletions as the case may be. Assets costing less than '' 5,000/- each are fully depreciated in the year of purchase.

e] Impairment of Fixed Assets:

At the end of each reporting period, the company determines whether the provision should be made for impairment loss to fixed assets by considering the indications that the impairment loss may have occurred in accordence with Accounting Standard 28 on "Impairment of Assets" issued by ICAI. The impairment loss is charged to Statement of Profit and Loss in the period in which an asset is identified as impaired, when the carrying value of assets exceeds its recoverable value. The impairment loss recognised in the earlier periods is reversed, if there has been a change in the estimate of recoverable amount.

f] Leases:

Lease payments under operating leases, if any are recognised as an expense on a straight line basis in the Statement of Profit and Loss over the lease term.

g] Provisions, Contingent Liabilities and Contingent Assets:

A provision is recognised if, as a result of a past event, the company has a present legal obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as a contingent liability. A disclosure of contingent liability is also made when there is a possible obligation or a present obligation that may, but problbly will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent Asets are neither recognised nor disclosed in the financial statements, it becomes probable that an out flow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made. Contingent liabilities andContingent assets are neither recognised nor disclosed in the accounts.

h] Earning per share:

Basic earning per share is computed by dividing the net profit after tax by weighted average number of equity shares outstanding during the period. Diluted earning per share is computed by dividing the net profit after tax (by adjusting any tax benefits) by the weighted average number of equity shares considered for deriving basic earning per share and also weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.

i] Miscellaneous Expenditure:

Preliminary expenses, if any are amortised and charged-off to Statement of Profit and Loss in the year in which it is incurred.

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Mar 31, 2013

A] Basis of Accounting:

The financial statements have been prepared in accordance with the generally accepted accounting principles under the historical cost convention on an accrual basis and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and in compliance with the provisions of the Companies Act, 1956.

b] Use of Estimates:

The preparation of the financial statements in conformity with Generally Accepted Accounting Principles (GAAP) requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Differences between the actual results and estimates are recognized in the period in which the results are known/ materialized.

c] Fixed Assets:

Fixed Assets, if any are stated at cost, net of convert availed, less accumulated depreciation. Capital work in progress, if any comprises cost of fixed assets that are not ready for its intended use. Exchange gain or loss on adjustments arising from exchange rate variations attributable to the fixed assets is capitalized.

d] Depreciation and amortization:

Depreciation on fixed assets is provided on straight line method, at the rates and in the manner specified in schedule XIV of the Companies Act, 1956. Depreciations on additions to / deletions from fixed assets is provided on pro- rata basis from / up to the date of such additions / deletions as the case may be. Assets costing less than '' 5,000/- each are fully depreciated in the year of purchase.

e] Impairment of Fixed Assets:

At the end of each reporting period, the company determines whether the provision should be made for impairment loss to fixed assets by considering the indications that the impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets" issued by ICAI. The impairment loss is charged to Statement of Profit and Loss in the period in which an asset is identified as impaired, when the carrying value of assets

exceeds its recoverable value. The impairment loss recognized in the earlier periods is reversed, if there has been a change in the estimate of recoverable amount.

f] Leases:

Lease payments under operating leases, if any are recognized as an expense on a straight line basis in the Statement of Profit and Loss over the lease term.

g] Provisions, Contingent Liabilities and Contingent Assets:

A provision is recognized if, as a result of a past event, the company has a present legal obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as a contingent liability. A disclosure of contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent Asset are neither recognized nor disclosed in the financial statements, it becomes probable that an out flow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made. Contingent liabilities and Contingent assets are neither recognized nor disclosed in the accounts.

h] Earning per share:

Basic earnings per share is computed by dividing the net profit after tax by weighted average number of equity shares outstanding during the period. Diluted earnings per share is computed by dividing the net profit after tax (by adjusting any tax benefits) by the weighted average number of equity shares considered for deriving basic earning per share and also weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.

i] Miscellaneous Expenditure:

Preliminary expenses, if any are amortized and charged-off to Statement of Profit and Loss in the year in which it is incurred.

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Mar 31, 2012

A] Basis of Accounting:

The financial statements have been prepared in accordance with the generally accepted accounting principles under the historical cost convention on an accrual basis and in accordance with the applicable accounting standards issued by the Institute of Chartered Accountants of India and in compliance with the provisions of the Companies Act, 1956.

b] Use of Estimates:

The preparation of the financial statements in conformity with Generally Accepted Accounting Principles (GAAP) requires the management of the Company to make estimates and assumptions that affect the reported balances of assets and liabilities and the disclosures relating to contingent liabilities as at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Differences between the actual results and estimates are recognized in the period in which the results are known/ materialized.

c] Fixed Assets:

Fixed Assets, if any are stated at cost, net of convert availed, less accumulated depreciation. Capital work in progress, if any comprises cost of fixed assets that are not ready for its intended use. Exchange gain or loss on adjustments arising from exchange rate variations attributable to the fixed assets is capitalized.

d] Depreciation and amortization:

Depreciation on fixed assets is provided on straight line method, at the rates and in the manner specified in schedule XIV of the Companies Act, 1956. Depreciations on additions to / deletions from fixed assets is provided on pro- rata basis from / up to the date of such additions / deletions as the case may be. Assets costing less than '' 5,000/- each are fully depreciated in the year of purchase.

e] Impairment of Fixed Assets:

At the end of each reporting period, the company determines whether the provision should be made for impairment loss to fixed assets by considering the indications that the impairment loss may have occurred in accordance with Accounting Standard 28 on "Impairment of Assets" issued by ICAI. The impairment loss is charged to Statement of Profit and Loss in the period in which an asset is identified as impaired, when the carrying value of assets exceeds its recoverable value. The impairment loss recognized in the earlier periods is reversed, if there has been a change in the estimate of recoverable amount.

f] Leases:

Lease payments under operating leases, if any are recognized as an expense on a straight line basis in the Statement of Profit and Loss over the lease term.

g] Provisions, Contingent Liabilities and Contingent Assets:

A provision is recognized if, as a result of a past event, the company has a present legal obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by the best estimate of the outflow of economic benefits required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure is made as a contingent liability. A disclosure of contingent liability is also made when there is a possible obligation or a present obligation that may, but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent Asset are neither recognized nor disclosed in the financial statements, it becomes probable that an out flow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made. Contingent liabilities and Contingent assets are neither recognized nor disclosed in the accounts.

h] Earning per share:

Basic earnings per share is computed by dividing the net profit after tax by weighted average number of equity shares outstanding during the period. Diluted earnings per share is computed by dividing the net profit after tax (by adjusting any tax benefits) by the weighted average number of equity shares considered for deriving basic earning per share and also weighted average number of equity shares that could have been issued upon conversion of all dilutive potential equity shares.

i] Miscellaneous Expenditure:

Preliminary expenses, if any are amortized and charged-off to Statement of Profit and Loss in the year in which it is incurred.

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Mar 31, 2011

AlBasis of Accounting:

The Company follows the Mercantile system of Accounting and recognizes income and expenditure on accrual basis.

bl Fixed Assets:

Fixed Assets are stated at cost plus expenditure directly incurred in order to put the asset to use. cl Depreciation:

Depreciation is provided on fixed assets as per written down value method as per rate provided in schedule XIV of the companies act, 1956.

dl Inventories:

Finished goods are valued at lower of cost or Market value and as certified by management. el Investments:

Investment are unquoted and are shown at cost.

fl Miscellaneous Expenditure: (to the extent not written off or adjusted)

Expenditure carried forward under this head is being amortized over the relevant period.

Expenses:

Material known liabilities are provided for on the basis of available information / estimates.

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Mar 31, 2010

AlBasis of Accounting:

The Company follows the Mercantile system of Accounting and recognises income and expenditure on accrual basis.

bl Fixed Assets:

Fixed Assets are stated at cost plus expenditure directly incurred in order to put the asset to use. cl Depreciation:

Depreciation is provided on fixed assets as per written down value method as per rate provided in schedule XIV of the companies act, 1956.

dl Inventories:

Finished goods are valued at lower of cost or Market value and as certified by management. el Investments:

Investment are unquoted and are shown at cost.

fl Miscellaneous Expenditure: (to the extent not written off or adjusted)

Expenditure carried forward under this head is being amortized over the relevant period.