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Accounting Policies of Combat Drugs Ltd. Company

Mar 31, 2015

A) Basis of Preparation of financial statements:

These financial statements have been prepared in accordance with the Generally Accepted Accounting Principles in India ("Indian GAAP") to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013 read with Rule 7 of the Companies (Accounts) Rules 2014, and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost convention on accrual basis.

b) Fixed Assets

The fixed assets are stated at cost of acquisition and subsequent improvements thereto including taxes duties, freight and other incidental expenses related to acquisition and installation.

c) Depreciation

Depreciation on fixed assets is provided as per Schedule II of Companies Act, 2013 taking into account the useful life.

d) Deferred tax liability / Asset To provide and recognize Deferred tax on timing differences between taxable income and accounting income subject to consideration of prudence.

e) Inventories

Inventories are valued at lower of the cost or net realizable value.

f) Revenue Recognition

Sale of goods is recognized at the point of despatch of finished goods to the customers.


Mar 31, 2014

A) Basis of preparation

The financial statements have been prepared in accordance with the applicable accounting standards and are based on historical cost convention.

b) Fixed Assets

The fixed assets are stated at cost of acquisition and subsequent improvements thereto including taxes, duties, freight and other incidental expenses related to acquisition and installation.

c) Depreciation

Depreciation on fixed assets is provided on Straight Line Method on prorata basis at the rates prescribed in schedule XIV of the Companies Act, 1956 as amended from time to time on the original cost of all the Assets including the existing assets.

d) Deferred tax liability / Asset

To provide and recognize Deferred tax on timing differences between taxable income and accounting income subject to consideration of prudence.

e) Inventories

Inventories are valued at lower of the cost or net realizable value.

f) Revenue Recognition

Sale of goods is recognized at the point of despatch of finished goods to the customers. Sales are inclusive.

g) Miscellaneous expenditure

To ammortize preliminary expenses equally over a period of 10 years.

h) Public Issue expense

To write off public issue expenses in ten equal installments from the year following the year of Public Issue.

i) Investments

Quoted and unquoted long term and current investments are stated at cost. Provision for diminution in value of long term investments is made only if such a decline is other than temporary in the opinion of the management.


Mar 31, 2013

A) Basis of preparation

The financial statements have been prepared in accordance with the applicable accounting standards and are based on historical cost convention.

b) Fixed Assets

The fixed assets are stated at cost of acquisition and subsequent improvements thereto including taxes, duties, freight and other incidental expenses related to acquisition and installation.

c) Depreciation

Depreciation on fixed assets is provided on Straint Line Method on pro-rata basis at the rates prescribed in schedule XIV of the Companies Act, 1956 as amended from time to time on the original cost of all the Assets including the existing assets.

d) Deferred tax liability / Asset

To provide and recognize Deferred tax on timing differences between taxable income and accounting income subject to consideration of prudence.

e) Inventories

Inventories are valued at lower of the cost or net realizable value.

f) Revenue Recognition

Sale of goods is recognized at the point of despatch of finished goods to the customers. Sales are inclusive.

g) Miscellaneous expenditure

To ammortize preliminary expenses equally over a period of 10 years.

h) Public Issue expense

To write off public issue expenses in ten equal installments from the year following the year of Public Issue

i) Investments

Quoted and unquoted long term and current investments are stated at cost. Provision for diminution in value of long term investments is made only if such a decline is other than temporary in the opinion of the management.


Mar 31, 2012

A) Basis of preparation

The financial statements have been prepared in accordance with the applicable accounting standards and are based on historical coat convention.

b) Fixed Assets

The fixed assets are stated at cost of acquisition and subsequent improvements thereto including taxes, duties, freight and other incidental expenses related to acquisition and installation.

c) Depreciation

Depreciation on fixed assets is provided on Strain Line Method on pro-rata basis at the rates prescribed in schedule XIV of the Companies Act, 1956 as amended from time to time on the original cost of all the Assets including the existing assets

d) Deferred tax liability / Asset

To provide and recognize Deferred tax on timing differences between taxable income and accounting income subject to consideration Of prudence

e) Inventories

Inventories art; valued at lower of the cost or ne! realizable value,

f) Revenue Recognition

Gale of goods is recognized at the point of dispatch of finished goods to the customers Safes are inclusive,

g) Miscellaneous expenditure

To amortize preliminary expenses equally over a" parted ST IS years.

h) Public Issue expense

To write off public issue expenses in ten equal installments from the year fallowing the year of Public Issue

i) investments

Quoted and unquoted long term and current investments are, stated at cost. Provision for diminution in value of long term investments is made only if such a decline is other than temporary in the opinion of the management,

j) Public Issue expense

To write off public issue expenses in ten equal installments from the year of following the year of Public Issue.


Mar 31, 2010

I. BASIS OF ACCOUNTING:The Financial Statements have been prepared in accordance with the applicable accounting standards and are based on historical cost convention.

ii. FIXED ASSETS:Fixed Assets are stated at cost of acquisition and subsequent improvements thereto including taxes, duties, freight and other incidental expenses related to acquisition and installation.

iii. DEPRECIATION:Depreciation on fixed assets is provided on Straight Line Method on pro-rata basis at the rates precribed in Schedule XIV of the Companies Act, 1956 as amended from time to time on the original cost of all the Assets including the existing assets.

iv. INVENTORIES: Inventories are valued at lower of the cost or net realisable value.

v. DEFFERED TAX LIABILITY/ASSET : To provide and recognize deffered tax on timing differences between taxable income and accounting income subject to consideration of prudence.

vi. REVENUE RECOGNITION: Sale of goods is recognised at the point of dispatch of finished goods to customers. Sales are inclusive of sales tax.

vii. MISCELLANEOUS EXPENDITURE: To ammortise: Preliminary expenses equally over a period of 10 years.

viii. PUBLIC ISSUE EXPENSES:To write off Public issue expenses in ten equal instalments from the year following the year of Public Issue.

 
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