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Accounting Policies of Cranex Ltd. Company

Mar 31, 2014

1. All Revenue, Expenses, Except provision for gratuity, Assets & Liabilities are accounted for on actual basis.

2. The Financial Statements are prepared under the historical cost convention in accordance with applicable mandatory accounting standard and relevant presentation requirements of the Companies Act 1956.

3. Fixed Assets are recorded in the books at cost of acquisition which comprises of purchase price, freight and other incidental expenses including expenditure of installation of Fixed Assets.

4. Depreciation of Fixed Assets have been provided on the basis of Straight Line Method as per the rates mentioned in the Schedule XIV of the Companies Act 1956.

5. Investments are stated at cost of acquisition

6. Inventories: As certified by the Management, the stocks have been valued at cost or market price, whichever is lower.

7. Sales are recognized at the point of dispatch of finished goods from the factory.

8. Excise Duty is paid and accounted for at the time of clearance of Finished goods from the factory.

9. Foreign Currency transactions: The transaction in Foreign Exchange are translated in to Indian Rupees at the Exchange Rate prevailing at the time of transaction taking place.


Mar 31, 2013

(a) Basis of Accounting & Accounting Convention

1. All Revenue, Expenses, Except provision for gratuity, Assets & Liabilities are accounted for on actual basis.

2. The Financial Statements are prepared under the historical cost convention in accordance with applicable mandatory accounting standard and relevant presentation requirements of the Companies Act 1956.

3. Fixed Assets are recorded in the books at cost of acquisition which comprises of purchase price, freight and other incidental expenses including expenditure of installation of Fixed Assets.

4. Depreciation of Fixed Assets have been provided on the basis of Straight Line Method as per the rates mentioned in the Schedule XIV of the Companies Act 1956.

5. Investments are stated at cost of acquisition

6. Inventories: As certified by the Management, the stocks have been valued at cost or market price, whichever is lower.

7. Sales are recognized at the point of dispatch of finished goods from the factory.

8. Excise Duty is paid and accounted for at the time of clearance of Finished goods from the factory.

9. Foreign Currency transactions: The transaction in Foreign Exchange are translated in to Indian Rupees at the Exchange Rate prevailing at the time of transaction taking place.


Mar 31, 2012

1. All Revenue, Expenses, Except provision forgratuity, Assets& Liabilities are accounted for on actual basis.

2. The Financial Statements are prepared under the historical cost convention in accordance with applicable mandatory accounting standard and relevant presentation requirements of the Companies Act 1956.

3. Fixed Assets are recorded in the books at cost of acquisition which comprises of purchase price, freight and other incidental expenses including expenditure of installation of Fixed Assets. 4. Depreciation of Fixed Assets have been provided on the basis of Straight Line Method as per the rates mentioned in the Schedule XIV Of the Companies Act 1956.

5. Investments are stated at cost of acquisition

6. Inventories: As certified by the Management, the stocks have been valued at cost or market price, whichever is lower.

7. Sales are recognized at the point of dispatch of finished goods from the factory.

8. Excise Duty is paid and accounted for at the time of clearance of Finished goods from the factory.

9. Foreign Currency transactions: The transaction in Foreign Exchange are translated into Indian Rupees at the Exchange Rate prevailing at the time of transaction taking place.


Mar 31, 2010

(A) Basis of Accounting & Accounting Convention

1. All Revenue, Expenses, Except provision for gratuity, Assets & Liabilities are accounted for on actual basis.

2. The Financial Statements are prepared under the historical cost convention in accordance with applicable mandatory accounting standard and relevant presentation requirements of the Companies Act 1956.

3. Fixed Assets are recorded in the books at cost of acquisition which comprises of purchase price, freight and other incidental expenses including expenditure of installation of Fixed Assets.

4. Depreciation of Fixed Assets have been provided on the basis of Straight Line Method as per the rates mentioned in the Schedule XIV of the Companies Act 1956.

5. Investments are stated at cost of acquisition

6. Inventories: As certified by the Management, the stocks have been valued at cost or market price, whichever is lower.

7. Sales are recognized at the point of dispatch of finished goods from the factory.

8. Excise Duty is paid and accounted for at the time of clearance of Finished goods from the factory.

9. Foreign Currency transactions: The transaction in Foreign Exchange are translated in to Indian Rupees at the Exchange Rate prevailing at the time of transaction taking place.


Mar 31, 2009

(a) Basis of Accounting & Accounting Convention

1. All Revenue, Expenses, Except provision for gratuity, Assets Suabilities are accounted for on actual basis.

2. The Financial Statements are prepared under the historical cost convention in accordance with applicable mandatory accounting standard and relevant presentation requirements of the Companies Act 1956.

3. Fixed Assets are recorded in the books at cost of acquisition which comprises of purchase price, freight and other incidental expenses including expenditure of installation of Fixed Assets.

4. Depreciation of Fixed Assets have been provided on the basis of Straight Line Method as per the rates mentioned in the ScheduleXIVofthe Companies Act 1956.

5. Investments are stated at cost of acquisition

6. Inventories: As certified by the Management, the stocks have been valued at cost or market price, whichever is lower.

7. Sales are recognized at the poMof dispatch of finished goods from the factory.

8. Excise Duty is paid and accounted for at the time of clearance of Finished goods from thefactory.

9. Foreign Currency transactions: The transaction in Foreign Exchange are translated in to Indian Rupees at the Exchange Rate prevailing at the time of transaction taking place.

 
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