Aarya Global Shares & Securities Ltd.
You can view the entire text of Accounting Policy of the company for the latest year.
ISIN No INE233H01030 52Wk High (Rs.) 2 BV (Rs.) 15.80 FV (Rs.) 10.00
Bookclosure 28/09/2015 52Wk Low (Rs.) 0 EPS (Rs.) 0.71 P/E (X) 0.65
Mkt Cap. (Rs. Cr.) 1.00 P/BV (X) 0.03 Div Yield (%) 0.00 Mkt Lot 1
2014-03 1. Basis of Preparation of Financial Statements.

The Financial statements are prepared under the historical cost convention, on an accrual basis, in accordance with the normally accepted Accounting PrinciplesAnd Provisions of the Companies Act, 1956.

Accounting Policies not specifically referred to are consistent with generally acceptedAccounting Policies.

2. Use of estimates

The Preparation and presentation of financial statement in conformity with Generally Accepted Accounting Principles requires making of estimates and assumptions that effect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statement and the reported amounts of revenues and expenses during the reporting year. Differences between the actual result and estimates are recognized in the year in which the results are known/materialized.

3. Revenue Recognition

Sales are recognized when risk and rewards of ownership are passed on to the customers. Interest income is recognized on time proportion basis. Other revues are recognized when they had accrued.

4. Segment Reporting

The Company is dealing in shares and investments, have its income from interest dividend and brokerage, hence segment reporting is not applicable to the Company.

5. FixedAssetsand Depreciation/Amortization

Fixed Assets are stated at cost of acquisition less accumulated depreciation and impairment, if any. Cost is inclusive of freight, duties, taxes and other directly attributable costs incurred to bring the assets to their working condition for intended use. Depreciation is charged using straight line method based on the useful lives of the fixed assets as estimated by the management as specified below, or the rates specified in accordance with the provision of schedule XIV of the Companies Act, 1956, whichever is higher.

Depreciation is charged on a pro-rata basis for assets purchased/sold during the year.

6. Investments

Short term Investments (Quoted) are valued at cost or market whichever is less Long Term Investments(Quoted) are valued at cost Other unquoted investments are valued at cost basis.

7. Impairment ofAssets

No impairment ofAssets has been identified during the current period.

8. Employee benefits

The provision of Gratuity and P. F do not apply to this company.

9. Taxes on Income

Income-tax expenses comprises current tax (i.e. amount of tax for the year determined in accordance with the income tax laws) and deferred tax charge or credit (reflecting the tax effect of timing differences between accounting income and taxable income for the year).

10. Borrowing cost

Borrowing cost directly attributable to acquisition or construction of qualifying assets (i.e. those fixed assets which necessarily take a substantial period of time to get ready for their intended use) are capitalized.

Other borrowing costs are recognized as an expenses in the period in which they are incurred.

11. Provision, Contingent Liabilities and Contingent Assets

Provision are recognized when the Company has a legal and constructive obligation as a result of a past event, for which it is probable that a cash outflow will be required and a reliable estimate can be made of the amount of the obligation. Contingent Liabilities are disclosed when the Company has a possible obligation or a present obligation and it is probable that a cash outflow will not be required to settle the obligation. Contingent Assets are not recognized in financial statements as they may never be realized.

12. Miscellaneous Expenditure

Preliminary expenses had been fully written off in earlier years.

13. Earnings per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders (after deducting taxes) by the weighted average number of equity shares outstanding during the year.