Home  »  Company  »  Pudumjee Industries  »  Quotes  »  Accounting Policy
Enter the first few characters of Company and click 'Go'

Accounting Policies of Pudumjee Industries Ltd. Company

Mar 31, 2013

A) Fixed Assets are valued at cost.

b) Borrowing costs comprising interest etc. relating to projects are capitalised up to the date of its completion and other borrowing costs are charged to Profit and Loss Account in the year of their accrual.

c) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on Written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

d) Finished paper stock is valued at lower of cost or market value. All other inventories are valued at lower of cost on First In First Out method or realisable value.

e) Investments are classified into current and long term investments. Current Investments are stated at lower of cost or fair value. Long term investments are stated at cost, less provision for permanent diminution in value, if any.

f) (i) Contributions to defined contribution schemes,namely,Provident Fund and Supernnuation Fund is

made at a pre-determined rates and are charged to the Profit & Loss Account. (ii) Contributions to the defined benefit scheme,namely,Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii)Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Foreign Exchange Transactions are recorded at the then prevailing rate. Closing balances of Assets & Liabilities relating to foreign currency transactions are converted into rupees at the rates prevailing on the date of the Balance Sheet.The difference for transactions are dealt with in the Profit & Loss account.

h) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy. i) Factors giving rise to any indication of any impairment of the carrying amount of the company''s assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS 28 for impairment of assets.


Mar 31, 2012

A) Fixed Assets are valued at cost.

b) Borrowing costs comprising interest etc. relating to projects are capitalised up to the date of its completion and other borrowing costs are charged to Profit and Loss Account in the year of their accrual.

c) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on Written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

d) Finished paper stock is valued at lower of cost or market value. All other inventories are valued at lower of cost on First In First Out method or realisable value.

e) Investments are classified into current and long term investments. Current Investments are stated at lower of cost or fair value. Long term investments are stated at cost, less provision for permanent diminution in value, if any.

f) (i) Contributions to defined contribution schemes, namely, Provident Fund and Supernnuation Fund is made at a pre-determined rates and are charged to the Profit & Loss Account.

(ii) Contributions to the defined benefit scheme, namely, Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii) Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Foreign Exchange Transactions are recorded at the then prevailing rate. Closing balances of Assets & Liabilities relating to foreign currency transactions are converted into rupees at the rates prevailing on the date of the Balance Sheet The difference for transactions are dealt with in the Profit & Loss account.

h) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy.

i) Factors giving rise to any indication of any impairment of the carrying amount of the company's assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS 28 for impairment of assets.

(b) The deferred Tax Asset in respect of carry forward of losses and tax credit has been worked out on the basis of assessment orders, returns of income filed for subsequent assessment years and estimate of the taxable income for the year ending 31st March, 2012.


Mar 31, 2011

A) Investments are classified into current and long term investments. Current Investments are stated at lower of cost and fair value.

Long Term Investments are stated at cost, less provision for permanent diminution in value, if any.

b) Finished goods are valued at lower of cost or market value. All other inventories are valued at cost based on First In, First Out method.

c) Fixed Assets are valued at cost.

d) Borrowing costs comprising interest etc. relating to project are capitalised up to the date of its completion and other borrowing costs are charged to profit and loss account in the year of their accrual.

e) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

f) (i) Contributions to defined contribution schemes,namely,Provident Fund and Supernnuation Fund is made at a pre-determined rates and are charged to the Profit & Loss Account.

(ii) Contributions to the defined benefit scheme,namely,Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii)Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy.

h) Foreign currency transactions are recorded at the then prevailing rate. Closing balances of assets and liabilities relating to foreign currency transactions are converted into Rupees at the rates prevailing on the date of the Balance Sheet The difference for transactions are dealt with in the Profit and Loss account.

i) Factors giving rise to any indication of any impairment of the carrying amount of the company's assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS-28 for impairment of assets.


Mar 31, 2010

A) Investments are classified into current and long term investments. Current Investments are stated at lower of cost and fair value.

Long Term Investments are stated at cost, less provision for permanent diminution in value, if any.

b) Finished goods are valued at lower of cost or market value. All other inventories are valued at cost based on First In, First Out method.

c) Fixed Assets are valued at cost.

d) Borrowing costs comprising interest etc. relating to project are capitalised up to the date of its completion and other borrowing costs are charged to profit and loss account in the year of their accrual.

e) Depreciation on Machinery & Building has been provided on Straight Line Method and that on the other Assets on written Down Value method in accordance with Schedule XIV of the Companies Act, 1956 as in force as on the date of Balance Sheet.

f) (i) Contributions to defined contribution schemes, namely, Provident Fund and Superannuation Fund is made at a pre-determined rates and are charged to the Profit & Loss Account.

(ii) Contributions to the defined benefit scheme, namely, Gratuity Fund & provision for the remaining Gratuity and for Leave encashment are made on the basis of actuarial valuations made in accordance with the revised Accounting Standard (AS) 15 at the end of each Financial Year and are charged to the Profit & Loss Account of the year.

(iii) Actuarial gains & losses are recognized immediately in the Profit & Loss Account.

g) Revenue recognition is postponed to a later year only when it is not possible to estimate it with reasonable accuracy.

h) Foreign currency transactions are recorded at the then prevailing rate. Closing balances of assets and liabilities relating to foreign currency transactions are converted into Rupees at the rates prevailing on the date of the Balance Sheet The difference for transactions are dealt with in the Profit & Loss account.

i) Factors giving rise to any indication of any impairment of the carrying amount of the companys assets are appraised at each balance sheet date to determine and provide /revert an impairment loss following accounting standard AS-28 for impairment of assets.

(a) The deferred Tax Asset in respect of carry forward of losses has been worked out on the basis assessment orders, returns of income filed for subsequent assessment years and estimate of the taxable income for the year ending 31st March, 2010.

 
Subscribe now to get personal finance updates in your inbox!