All assets and liabilities have been classified as current
and non-current as per the Companies normal
operating cycle. Based on the nature of services
rendered to customers and time elapsed between
deployment of resources and the realisation in cash
and cash equivalents of the consideration for such
services rendered, the company has considered an
operating cycle of 12 months.
b) Basis of preparation of standalone financial
statements
These standalone financial statements have been
prepared in Indian Rupee (?) which is the functional
currency of the Company. All amounts have been
rounded to the nearest Crore or two decimals thereof,
unless otherwise stated.
These standalone financial statements have been
prepared on historical cost basis except for certain
financial instruments which are measured at fair value
or amortised cost at the end of each reporting year.
Historical cost is generally based on the fair value of
the consideration given in exchange for goods and
services. Fair value is the price that would be received
to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at
the measurement date.
1.1 SUMMARY OF MATERIAL ACCOUNTING
POLICIES:
a) Statement of compliance
These standalone financial statements are prepared
in accordance with Indian Accounting Standards
(Ind AS) as per the Companies (Indian Accounting
Standards) Rules, 2015, as amended from time to
time, notified under Section 133 of Companies Act,
2013, (the 'Act') and other relevant provisions of the
Act as amended from time to time.
These Standalone financial Statements do not reflect
the effects of events that occurred subsequent to
the date of board meeting in which the Standalone
financial Statements is approved.
The statement of operating cash flows have been
prepared under indirect method.
c) Use of judgements and estimates
The preparation of Standalone financial statements
in conformity with Ind AS requires the management
to make judgments, estimates and assumptions that
affect the reported amounts of income, expenses,
assets and liabilities and the accompanying
disclosures, and the disclosure of contingent
liabilities, at the end of the reporting year. The key
assumptions concerning the future and other key
sources of estimation uncertainty at the reporting
date, that have a material risk of causing a material
adjustment to the carrying amounts of assets and
liabilities within the next financial year, are described
below. The company based its assumptions and
estimates on parameters available when the
standalone financial statements were prepared.
Existing circumstances and assumptions about future
developments, however, may change due to market
changes or circumstances arising that are beyond the
control of the company. Such changes are reflected in
the assumptions when they occur.
The areas involving material judgement and estimates
are as follows:
Judgements:
Information about judgements made in applying
accounting policies that have the most material
effects on the amounts recognised in the standalone
financial statements is included in the following notes:
- Note 23: Fair value measurement of financial
assets
Estimates:
Application of accounting policies that require
critical accounting estimates involving complex and
subjective judgments and the use of assumptions
in these standalone financial statements have been
disclosed below:
- Note 22: Defined benefit obligation
- Note 2: Property, plant and equipment and other
intangible assets
- Note 23: Fair value measurement of financial
instruments
- Note 30: Share based payments
The preparation of the standalone financial statements
in conformity with the recognition and measurement
principles of the Ind AS requires management of
the company to make estimates, judgments and
assumptions. These estimates, judgments and
assumptions affect the application of accounting
policies and the reported amounts of assets and
liabilities, the disclosures of contingent assets and
liabilities at the date of the standalone financial
statements and reported amounts of revenues and
expenses during the year. Application of accounting
policies that require critical accounting estimates
involving complex and subjective judgments and the
use of assumptions in these standalone financial
statements have been disclosed below. Accounting
estimates could change from year to year. Although
these estimates are based on management's best
knowledge of current events and actions, uncertainty
about the assumptions and estimates could result
in the outcome requiring material adjustment to the
carrying amount of assets and liabilities.
Defined benefit
The cost of the defined benefits that includes gratuity
and compensated absences and the present value
of the defined benefit obligation are based on
actuarial valuation using the projected unit credit
method. An actuarial valuation involves making
various assumptions that may differ from actual
developments in the future. These include the
determination of the discount rate, future salary
increases and mortality rates. Due to the complexities
involved in the valuation and its long-term nature,
a defined benefit obligation is highly sensitive to
changes in these assumptions. All assumptions are
reviewed at each reporting date.
Property, plant and equipment and other
intangible assets
Property, plant and equipment and other intangible
assets represent a material proportion of the asset
base of the Company. The charge in respect of
periodic depreciation is derived after determining
an estimate of an asset's expected useful life and the
expected residual value at the end of its life. The useful
lives and residual values of Company's assets are
determined by management at the time the asset is
acquired and reviewed periodically, including at each
financial year end. The lives are based on historical
experience with similar assets as well as anticipation
of future events, which may impact their life, such as
changes in technology.
Leases
The company evaluates if an arrangement qualifies
to be a lease as per the requirements of Ind AS 116.
Identification of a lease requires material judgment.
The company uses material judgement in assessing
the lease term (including anticipated renewals)
and the applicable discount rate. The company
determines the lease term as the non-cancellable
period of a lease, together with both periods covered
by an option to extend the lease if the company is
reasonably certain to exercise that option; and
periods covered by an option to terminate the lease
if the company is reasonably certain not to exercise
that option. In assessing whether the company is
reasonably certain to exercise an option to extend
a lease, or not to exercise an option to terminate a
lease, it considers all relevant facts and circumstances
that create an economic incentive for the company
to exercise the option to extend the lease, or not
to exercise the option to terminate the lease. The
company revises the lease term if there is a change
in the non-cancellable period of a lease. The discount
rate is generally based on the incremental borrowing
rate specific to the lease being evaluated or for a
portfolio of leases with similar characteristics.
Other tax assets and Deferred tax assets
The tax jurisdiction for the company is India. Material
judgments are involved in determining the provision
for income taxes, including amount expected to be
paid/recovered for uncertain tax positions.
The ultimate realization of deferred tax assets is
dependent upon the generation of future taxable
profits during the year in which those temporary
differences and tax loss carry-forwards become
deductible. The company considers the expected
reversal of deferred tax liabilities and projected future
taxable income in making this assessment.
The amount of the deferred tax assets considered
realizable, however, could be reduced in the near
term if estimates of future taxable income during the
carry-forward year are reduced.
Fair value measurement of financial instruments
When the fair value of financial assets and financial
liabilities recorded in the balance sheet cannot be
measured based on quoted prices in active markets,
their fair value is measured using valuation techniques
including the Discounted Cash Flow model. The inputs
to these models are taken from observable markets
where possible, but where this is not feasible, a
degree of judgement is required in establishing
fair values. Judgements include considerations of
inputs such as liquidity risk, credit risk and volatility.
Changes in assumptions about these factors could
affect the reported fair value of financial instruments.
The policy has been further explained under note 'r'.
Share based payments
The company is required to evaluate the terms to
determine whether share-based payment is equity
settled or cash settled. Judgment is required to do
this evaluation. Further, the company is required to
measure the fair value of equity settled transactions
with employees at the grant date of the equity
instruments. The aforementioned inputs entered in
to the option valuation model that the company uses
to determine the fair value of the share awards are
subjective estimates, changes to these estimates will
cause the fair value of our share-based payments,
and related share-based compensation expense that
the company records to vary.
Interest income
For all debt instruments measured either at amortised
cost or at fair value through Profit or loss, interest
income is recorded using the effective interest
rate (EIR). EIR is the rate that exactly discounts the
estimated future cash payments or receipts over the
expected life of the financial instrument or a shorter
period, where appropriate, to the gross carrying
amount of the financial asset or to the amortised cost
of a financial liability. When calculating the effective
interest rate, the company estimates the expected
cash flows by considering all the contractual terms of
the financial instrument (for example, prepayment,
extension, call and similar options) but does not
consider the expected credit losses. Interest income
is included in other income in the statement of profit
and loss.
Trade receivables
Allowance for expected credit loss on trade receivables
is based on assumptions about risk of default and
expected timing of collection. The Company uses
judgment in making these assumptions and selecting
the inputs to the expected credit loss calculation based
on the Company's history of collections, customer's
creditworthiness, existing market conditions as well
as forward looking estimates at the end of each
reporting period.
Provisions and contingent liabilities
The Company estimates the provisions that have
present obligations as a result of past events and it is
probable that outflow of resources will be required to
settle the obligations. These provisions are reviewed
at the end of each reporting period and are adjusted
to reflect the current best estimates.
The Company uses material judgements to assess
contingent liabilities. Contingent liabilities are
disclosed when there is a possible obligation arising
from past events, the existence of which will be
confirmed only by the occurrence or non-occurrence
of one or more uncertain future events not wholly
within the control of the Company or a present
obligation that arises from past events where it is
either not probable that an outflow of resources
will be required to settle the obligation or a reliable
estimate of the amount cannot be made. Contingent
assets are neither recognised nor disclosed in the
standalone financial statements.
d) Revenue Recognition
The Company's primary source of revenue is from
provision of e-governance public services. Revenue
from operations includes transaction fees and
accounts maintenance fees charged for IT-enabled
solutions provided by the Company in delivery of
public services involving various offerings chargeable
based on counts processed and at different rates.
To recognise revenues, the Company applies the
following five step approach: (1) identify the contract
with a customer, (2) identify the performance
obligations in the contract, (3) determine the
Transaction Price, (4) allocate the Transaction Price to
the performance obligations in the contract, and (5)
recognise revenues when a performance obligation is
satisfied.
Revenue is recognised upon transfer of control of
promised products or services to customers in an
amount that reflects the consideration the Company
expects to receive, i.e., the "Transaction Price", (net
of variable consideration on account of discounts
and allowances) in exchange of those products or
services. The Company recognises revenue in the
period in which it satisfies its performance obligation
by transferring promised goods or services to the
customer.
The Company recognises revenue when the
significant terms of the arrangement are enforceable,
services have been delivered and the collectability is
reasonably assured. When there is uncertainty as to
collectability, revenue recognition is postponed until
such uncertainty is resolved.
Contract Assets: A contract asset is right to
consideration in exchange of services that the
company has rendered to a customer when that right
is conditioned on something other than passage of
time. Contract assets are recognised when there is
excess of revenue earned over billings on contracts.
Contract assets are classified as unbilled receivables
(only act of invoicing is pending) when there is
unconditional right to receive cash, and only passage
of time is required, as per contractual terms.
Contract liability: A contract liability is the obligation
to render services to a customer for which the
Company has received consideration from the
customer. If a customer pays consideration before the
company renders services to the customer a contract
liability is recognised when the payment is made.
Contract liabilities are recognised as revenue when
the company renders services as per the contract.
The sources of revenue and Company's accounting
policy are as follows:
Transaction fees- revenue in respect of transactions
or counts is recognised in accordance with the
Company's fee scales at a point in time as and
when the transactions are completed, or counts are
processed.
Income from pension fund solutions represents
services which are recognised as per the terms of
the contract with customers when such related
services are rendered. Revenue in respect of account
maintenance fees for pension services is recognized
over a period of time to which the maintenance fee
relates.
Software maintenance - Revenue from time and
material contracts is recognised using the output
method measured by efforts expended, number of
transactions processed, etc. Revenue related to fixed
price maintenance and support services contracts,
where the Company is standing ready to provide
services is recognised based on time elapsed on a
straight-line basis over the period of performance.
Other services - all other revenue is recognised in
the period in which the performance obligation is
satisfied over a period of time or point in time.
Revenue excludes any taxes and duties collected on
behalf of the government.
Dividend income is recognized when the unconditional
right to receive the income is established.
Interest income is recognized on time proportionate
method.
Practical expedients used
In accordance with the practical expedient in Para
63 of Ind AS 115, the Company has not adjusted the
promised amount of consideration for the effects
of a significant financing component if the company
expects, at contract inception, that the period
between when the company transfers a promised
good or service to a customer and when the customer
pays for that good or service will be one year or less.
e) Property, plant and equipment
Property, plant and equipment are stated at cost
of acquisition less accumulated depreciation and
accumulated impairment loss, if any. The cost is
inclusive of freight, installation cost, duties, taxes,
borrowing cost and other incidental expenses for
bringing the asset to its working conditions for its
intended use but net of indirect taxes, wherever input
credit is claimed.
Advances paid towards the acquisition of property,
plant and equipment outstanding at each balance
sheet date is classified as capital advances under
other non-current assets and the cost of assets not
put to use before such date are disclosed under
'Capital work-in-progress'.
When material parts of property, plant and equipment
are required to be replaced in intervals, the company
recognizes such parts as separate component
of assets with specific useful lives and provides
depreciation over their useful life.
Subsequent costs are included in the asset's
carrying amount or recognised as a separate asset,
as appropriate, only when it is probable that future
economic benefits associated with the item will flow
to the company and the cost of the item can be
measured reliably.
Repairs and maintenance costs are recognized in the
statement of profit and loss when incurred.
The cost of an item of property, plant and equipment
shall be recognised as an asset if, and only if it is
probable that future economic benefits associated
with the item will flow to the Company and the cost of
the item can be measured reliably.
The cost and related accumulated depreciation are
eliminated from the standalone financial statements
upon sale or retirement of the asset and the resultant
gains or losses are recognized in the statement of
profit and loss.
Assets to be disposed off are reported at the lower
of the carrying value or the fair value less cost to sell.
f) Leases
The Company as a lessee
The Company lease asset classes primarily consist of
leases for premise. The Company assesses whether a
contract contains a lease, at inception of a contract. A
contract is, or contains, a lease if the contract conveys
the right to control the use of an identified asset for
a period of time in exchange for consideration. To
assess whether a contract conveys the right to control
the use of an identified asset, the Company assesses
whether:
(i) the contract involves the use of an identified
asset
(ii) the Company has substantially all of the
economic benefits from use of the asset through
the period of the lease and
(iii) the Company has the right to direct the use of
the asset.
At the date of commencement of the lease, the
company recognizes a right-of-use asset ("ROU")
and a corresponding lease liability for all lease
arrangements in which it is a lessee, except for leases
with a term of twelve months or less (short-term
leases) and low value leases. For these short-term and
low value leases, the company recognizes the lease
payments as an operating expense on a straight-line
basis over the term of the lease.
At inception of a contract, the company assesses
whether a contract is, or contains, a lease. A contract
is, or contains, a lease if the contract conveys the right
to control the use of an identified asset for a period
of time in exchange for consideration. The company
recognises right-of-use asset representing its right
to use the underlying asset for the lease term at the
lease commencement date. The cost of the right-of-
use asset measured at inception shall comprise of
the amount of the initial measurement of the lease
liability adjusted for any lease payments made at
or before the commencement date, plus any initial
direct costs incurred and an estimate of costs to be
incurred by the lessee in dismantling and removing
the underlying asset or restoring the underlying asset
or site on which it is located. The right-of-use assets is
subsequently measured at cost less any accumulated
depreciation, accumulated impairment losses, if any
and adjusted for any remeasurement of the lease
liability. The right-of-use assets is depreciated using
the straight -line method from the commencement
date over the lease term.
The company measures the lease liability at the
present value of the lease payments that are not
paid at the commencement date of the lease. The
lease payments are discounted using the incremental
borrowing rate. Lease liabilities are remeasured with
a corresponding adjustment to the related right of
use asset if the company changes its assessment if
whether it will exercise an extension or a termination
option. The estimated useful lives of right-of-use
assets are determined on the same basis as those of
the underlying property and equipment.
Lease liability and ROU asset have been separately
presented in the Balance Sheet and lease payments
have been classified as financing cash flows.
Short-term leases and leases of low-value assets :
The Company has elected not to recognise right-
of-use assets and lease liabilities for leases of low-
value assets and short-term leases. The Company
recognises the lease payments associated with these
leases as an expense in profit or loss.
g) Depreciation and amortisation
Depreciation is charged so as to write off the cost,
other than land and properties under construction,
over their estimated useful lives, using the straight¬
line method.
Depreciation on additions / deletions is provided on
pro-rata basis from the date of acquisition/ up to the
date of deletion
Depreciation on assets is provided on the straight-line
method using the rates based on the economic useful
life of assets as estimated by the management but
not being more than the limits specified in Schedule II
of the Companies Act, 2013 as below:
Computer Software is amortized over a period of 4
years.
Depreciation is not recorded on capital work-in¬
progress until installation is complete and the asset
is ready for its intended use. The estimated useful
lives, residual values and depreciation method are
reviewed at each year end, with the effect of any
changes in estimate accounted for on a prospective
basis.
On the subsequent sale or retirement of a revalued
property, the attributable revaluation surplus
remaining in the property revaluation reserve is
transferred directly to retained earnings. No transfer
is made from the revaluation reserve to retained
earnings except when an asset is derecognised.
h) Other Intangible assets
Intangible assets comprising of software are
recorded at acquisition cost and are amortized over
the estimated useful life on straight line basis. Cost
of development and production incurred till the time
software is ready for use is capitalised.
Gains or losses arising from derecognition of an
intangible asset are measured as the difference
between the net disposal proceeds and the
carrying amount of the asset and are recognised
in the statement of profit or loss when the asset is
derecognised.
Research cost are expensed as incurred.
Development costs
Development expenditures on an individual project
are recognised as an intangible asset when the
company can demonstrate:
- The technical feasibility of completing the
intangible asset so that the asset will be available
for use
- Its intention to complete and its ability and
intention to use the asset
- How the asset will generate future economic
benefits
- The ability to measure reliably the expenditure
during development
Following initial recognition of the development
expenditure as an asset, the asset is carried at cost
less any accumulated amortisation and accumulated
impairment losses. Amortisation of the asset begins
when development is complete and the asset is
available for use. It is amortised over the period of
expected future benefit. Amortisation expense is
recognised in the statement of profit and loss unless
such expenditure forms part of carrying value of
another asset. During the period of development, the
asset is tested for impairment annually.
i) Impairment of tangible and intangible assets
At each reporting date, the company reviews the
carrying amounts of its tangible and intangible assets,
to determine whether there is any indication that
those assets have suffered an impairment loss. If any
such indication exists, the recoverable amount of the
asset is estimated in order to determine the extent of
the impairment loss (if any). Where it is not possible
to estimate the recoverable amount of an individual
asset, the company estimates the recoverable
amount of the cash-generating unit to which the
asset belongs.
If the recoverable amount of an asset is estimated to
be less than its carrying amount, the carrying amount
of the asset is reduced to its recoverable amount.
An impairment loss is recognised as an expense
immediately, unless the relevant asset is carried at
a revalued amount, in which case the impairment
loss is treated as a revaluation decrease. Where an
impairment loss subsequently reverses, the carrying
amount of the asset is increased to the revised
estimate of its recoverable amount, but so that the
increased carrying amount does not exceed the
carrying amount that would have been determined
had no impairment loss been recognised for the
asset in prior years. A reversal of an impairment
loss is recognised as income immediately, unless
the relevant asset is carried at a revalued amount,
in which case the reversal of the impairment loss is
treated as a revaluation increase.
j) Foreign currency transactions and translation
Transactions and translations
Transactions in foreign currencies are initially
recorded at the functional currency rate prevailing
at the date of the transaction. Monetary assets and
liabilities denominated in foreign currencies are
translated into the respective functional currency at
the rates prevailing on the reporting period date.
Foreign exchange gains and losses resulting from
the settlement of such transactions and from the
translation at reporting period-end date exchange
rates of monetary assets and liabilities denominated
in foreign currencies are recognised in the income
statement.
Non-monetary items that are measured at fair value
in a foreign currency shall be translated using the
exchange rates at the date when the fair value was
measured. Non-monetary items that are measured in
terms of historical cost in a foreign currency shall be
translated using the exchange rate at the date of the
transaction.
k) Employee benefit costs
• Short- term employee benefits
All employee benefits payable wholly within
twelve months of rendering the service are
classified as short-term employee benefits.
Benefits such as salaries, wages etc. and the
expected cost of ex-gratia are recognised in the
year in which the employee renders the related
service. A liability is recognised for the amount
expected to be paid when there is a present legal
or constructive obligation to pay this amount as
a result of past service provided by the employee
and the obligation can be estimated reliably.
• Post-Employment benefits
Defined Contribution plans
Provident Fund: Employees are entitled to
receive benefits in respect of provident fund,
in which both employees and the company
make monthly contributions at a specified
percentage of the covered employees' salary.
The contributions, as specified under the law
were made to Recognised Provident Fund.
Superannuation: Certain employees of
the company are participants in a defined
contribution plan. The company has no further
obligations to the Plan beyond its annual
contributions which are contributed to a trust
fund, the corpus of which is invested with the
Life Insurance Corporation of India.
National Pension Scheme (NPS): Certain
employees of the Company have opted to
subscribe and contribute to National Pension
Scheme (NPS), a defined contribution plan
administered by the Government of India.
Individual employees can determine the amount
to be contributed towards NPS. The Company's
contribution to NPS for the year is charged as an
expense in the Statement of profit and loss when
services are rendered by the employees and
based on the amount of contribution required to
be made.
Obligations for contributions to defined
contribution plan are expensed as an employee
benefits expense in the statement of profit and
loss in period in which the related service is
provided by the employee. Prepaid contributions
are recognised as an asset to the extent that a
cash refund or a reduction in future payments is
available.
Defined benefit plan
Gratuity: The company provides for gratuity, a
defined benefit retirement plan ('the Gratuity
Plan') covering eligible employees. The Gratuity
Plan provides a lump-sum payment to vested
employees at retirement, death, incapacitation
or termination of employment, of an amount
based on the respective employee's salary and
the tenure of employment with the company.
The company has maintained a company
Gratuity Cum Life Assurance Scheme with the
Life Insurance Corporation of India (LIC) towards
which it annually contributes a sum determined
by LIC.
The company's net obligation in respect of
the gratuity benefit scheme is calculated by
estimating the amount of future benefit that
employees have earned in return for their
service in the current and prior periods; that
benefit is discounted to determine its present
value, and the fair value of any plan assets is
deducted. The present value of the obligation
under such defined benefit plan is determined
based on actuarial valuation performed annually
by an independent actuary using the Projected
Unit Credit Method, which recognises each
year of service as giving rise to additional unit
of employee benefit entitlement and measures
each unit separately to build up the final
obligation.
The obligation is measured at the present value
of the estimated future cash flows. The discount
rates used for determining the present value
of the obligation under defined benefit plan
are based on the market yields on Government
securities as at the balance sheet date. The
company recognises the net obligation of a
defined benefit plan in its balance sheet as an
asset or liability.
Gains or losses through re-measurement of
the net defined benefit liability / (asset) are
recognised in other comprehensive income. The
actual return of portfolio of plan assets, in excess
of yields computed by applying the discount rate
used to measure the defined benefit obligation
are recognised in other comprehensive income.
The effects of any plan amendments are
recognised in statement of profit and loss.
Compensated absences: The company has a
policy on compensated absences which are both
accumulating and non-accumulating in nature.
The expected cost of accumulating compensated
absences is determined by actuarial valuation
performed by an independent actuary at each
balance sheet date using projected unit credit
method on the additional amount expected
to be paid/availed as a result of the unused
entitlement that has accumulated at the balance
sheet date. Expense on non-accumulating
compensated absences is recognized in the year
in which the absences occur.
l) Income Tax
Income tax expense comprises current and deferred
income tax. Income tax expense is recognized in net
profit in the statement of profit and loss except to
the extent that it relates to items recognized directly
in equity, in which case it is recognized in other
comprehensive income.
Current tax
Current income tax for current and prior periods is
recognized at the amount expected to be paid to or
recovered from the tax authorities, using the tax rates
and tax laws that have been enacted or substantively
enacted by the balance sheet date. Current tax assets
and current tax liabilities are offset only if there is
a legally enforceable right to set off the recognized
amounts, and it is intended to realise the asset and
settle the liability on a net basis or simultaneously.
Deferred tax
Deferred tax is recognised on the differences
between the carrying amounts of assets and liabilities
in the standalone financial statements and the
corresponding tax bases used in the computation of
taxable profit. Deferred tax liabilities are generally
recognised for all taxable temporary differences and
deferred tax assets are recognised to the extent that
it is probable that taxable profits will be available
against which deductible temporary differences can
be utilised.
Deferred tax is not recognised for temporary
differences on the initial recognition of assets and
liabilities in a transaction that:
- Is not a business combination; and
- At the time of transaction (i) affects neither
accounting nor taxable profit or loss and (ii) does
not give rise to equal taxable and deductible
temporary differences
The carrying amount of deferred tax assets is reviewed
at the end of each reporting year and reduced to the
extent that it is no longer probable that sufficient
taxable profits will be available to allow all or part of
the asset to be recovered.
Deferred tax is calculated at the tax rates that are
expected to apply in the year when the liability is
settled or the asset realised based on the tax rates
(and tax laws) that have been enacted or substantively
enacted by the end of the reporting year.
Deferred tax assets and liabilities are offset when
there is a legally enforceable right to set off current
tax assets against current tax liabilities and when they
relate to income taxes levied by the same taxation
authority and the company intends to settle its
current tax assets and liabilities on a net basis.
Current and deferred tax are recognised as an
expense or income in profit or loss, except when they
relate to items credited or debited outside profit or
loss (either in other comprehensive income or directly
in equity), in which case the tax is also recognised
outside profit or loss (either in other comprehensive
income or directly in equity, respectively).
|