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Accounting Policies of Triveni Glass Ltd. Company

Mar 31, 2015

1. Fixed Assets:

(a) Fixed Assets are shown at historical cost except for certain land, building and Plant and Machinery, which are shown at revalued amount.

(b) In respect of projects involving construction, related pre-operation expenses upto commencement of production form part of the value of the assets capitalized

2. Depreciation:

(a) Depreciation is charged in the accounts under straight-line method at the rates specified in schedule XIV of the Companies Act, 1956.

(b) Depreciation on additions to/deductions from Fixed Assets during the year is charged on pro-rata basis from/upto the month in which the asset is available for use/disposal.

(c) Assets costing up to Rs. 5000/- are fully depreciated in the year of capitalization

3. Borrowing Cost

Borrowing cost attributable to the Fixed Assets during their construction are capitalized. Other borrowing costs are recognized as an expense in the period in which they are incurred.

4. Inventories:

(i) Raw material, fuel, packing materials and stores are valued at cost, on weighted average basis or market price whichever is lower.

(ii) Finished goods are valued at lower of cost or net realizable value.

5. Investment:

Investments are intended for long-term and are carried at cost. Provision is made for diminution, other than temporary, in the value of such investments.

6. Retirement Benefits:

Retirement benefits are dealt in the following manner:

(a) Provident fund is accounted on accrual basis with contributions made to recognized fund.

(b) Gratuity and superannuation liabilities are determined on the basis of actuarial valuations done at the end of the year and accordingly contributions are made to recognized fund set-up for the purpose.

(c) Leave encashment benefit on retirement is determined on the basis of actuarial valuation and such liability is provided in the accounts.

7. Foreign Exchange transactions:

(a) Foreign Currency transactions are initially recorded at the rates of exchange ruling on the date of transaction.

(b) Foreign Currency Loans/Deposits/Liabilities are reported with reference to the rates of exchange ruling at the year end and the difference resulting from such translations as well as due to payment/ discharge of liabilities in foreign currency related to fixed assets / capital work- in-progress is adjusted in their carrying cost and that related to current assets are recognized as revenue/expenditure during the year.

(c) Export Sales in Foreign Currency are accounted for at the exchange rate prevailing at the time of realization. Expenditure in Foreign Currency is accounted for at the Exchange Rate prevailing at the time of expenditure.

8. Income recognition

Sale of goods is recognized on dispatches to customers.

Interest is recognized on time proportion basis, dividend is recognized when right to receive payment is established.


Mar 31, 2014

1. Fixed Assets:

(a) Fixed Assets are shown at historical cost except for certain land, building and Plant and Machinery, which are shown at revalued amount.

(b) In respect of projects involving construction, related pre-operation expenses upto commencement of production form part of the value of the assets capitalized

2. Depreciation:

(a) Depreciation is charged in the accounts under straight-line method at the rates specified in schedule XIV of the Companies Act, 1956.

(b) Depreciation on additions to/deductions from Fixed Assets during the year is charged on pro- rata basis from/upto the month in which the asset is available for use/disposal.

(c) Assets costing up to Rs. 5000/- are fully depreciated in the year of capitalization

3. Borrowing Cost

Borrowing cost attributable to the Fixed Assets during their construction are capitalized. Other borrowing costs are recognized as an expense in the period in which they are incurred.

4. Inventories:

(i) Raw material, fuel, packing materials and stores are valued at cost, on weighted average basis or market price whichever is lower.

(ii) Finished goods are valued at lower of cost or net realizable value.

5. Investment:

Investments are intended for long-term and are carried at cost. Provision is made for diminution, other than temporary, in the value of such investments.

6. Retirement Benefits:

Retirement benefits are dealt in the following manner:

(a) Provident fund is accounted on accrual basis with contributions made to recognized fund.

(b) Gratuity and superannuation liabilities are determined on the basis of actuarial valuations done at the end of the year and accordingly contributions are made to recognized fund set-up for the purpose.

(c) Leave encashment benefit on retirement is determined on the basis of actuarial valuation and such liability is provided in the accounts.

7. Foreign Exchange transactions:

(a) Foreign Currency transactions are initially recorded at the rates of exchange ruling on the date of transaction.

(b) Foreign Currency Loans/Deposits/Liabilities are reported with reference to the rates of exchange ruling at the year end and the difference resulting from such translations as well as due to payment/ discharge of liabilities in foreign currency related to fixed assets / capital work- in-progress is adjusted in their carrying cost and that related to current assets are recognized as revenue/expenditure during the year.

(c) Export Sales in Foreign Currency are accounted for at the exchange rate prevailing at the time of realization. Expenditure in Foreign Currency is accounted for at the Exchange Rate prevailing at the time of expenditure. 8. Income recognition Sale of goods is recognized on dispatches to customers.

Interest is recognized on time proportion basis, dividend is recognized when right to receive payment is established.


Mar 31, 2013

1. Fixed Assets:

(a) Fixed Assets are shown at historical cost except for certain land, building and Plant and Machinery, which are shown at revalued amount.

(b) In respect of projects involving construction, related pre-operation expenses upto commencement of production form part of the value of the assets capitalized.

2. Depreciation:

(a) Depreciation is charged in the accounts under straight-line method at the rates specified in schedule XIV of the Companies Act, 1956.

(b) Depreciation on additions to/deductions from Fixed Assets during the year is charged on pro-rata basis from/upto the month in which the asset is available for use/disposal.

(c) Assets costing up to Rs. 5000/- are fully depreciated in the year of capitalization.

3. Borrowing Cost

Borrowing cost attributable to the Fixed Assets during their construction are capitalized. Other borrowing costs are recognized as an expense in the period in which they are incurred.

4. Inventories:

(i) Raw material, fuel, packing materials and stores are valued at cost, on weighted average

basis or market price whichever is lower. (ii) Finished goods are valued at lower of cost or net realizable value.

5. Investment:

Investments are irttenfded fortohg*term and are carried at cost. Provision is made for diminution, other Ifeiptfmporary, in the value of such inve^tr&eatS; oc,

6. Retirement Benefits: V1 Retirement benefits are dealt In the following manner:

(a) Provident fund isaccounted on accrual basis with contributions made to recqgnizedfund.

(b) Gratuity and superannuation liabilities are determined on tr^e basis of actuarial valuations done at the end of the, year and according^ contributions are made to recognized fund set- up for the purpose.

(c) Leave encashment feenefit on retirement is determined on the basis; of actuarial valuation and such liability is provided in the accounts.

7. Foreign Exchange transaiclidns:

(a) Foreign Currency transactions are initially recorded at the rates of exchange^rujing on the date of transaction.

(b) Foreign Currency Loans/Deposits/Liabilities are reported with reference to the rales of exchange ruling at the year end and the difference resulting from such translations £!s well as due to payment/ discharge of liabilities in foreign currency related to fixed assets / capital worK-ip-prpgress js adjusted; in their carrying cost and,that related to current assets are recognized as revenue/expenditure during the year.

(c) Export Sales in Foreign Currency are accounted for at the exchange rate prevailing at the timeOf reaHzatioh:: Expenditure in Foreign Currency is accounted for at the Exchange Rate prevailing at ttie timeof expenditure.

8. Income recognition

Sale of goods is recognized on dispatches to customers.

Interest is recognized on time proportion basis, dividend is recognized when right to "Y receivepaymint is established.


Mar 31, 2012

1. Fixed Assets:

(a) Fixed Assets are shown at historical cost except for certain land, building and Plant and Machinery, which are shown at revalued amount.

(b) In respect of projects involving construction, related pre-operation expenses upto commencement of production form part of the value of the assets capitalized.

2. Depreciation:

(a) Depreciation is charged in the accounts under straight-line method at the rates specified in schedule XIV of the Companies Act, 1956.

(b) Depreciation on additions to/deductions from Fixed Assets during the year is charged on pro-rata basis from/upto the month in which the asset is available for use/disposal.

(c) Assets costing up to Rs. 5000/- are fully depreciated in the year of capitalization.

3. Borrowing Cost

Borrowing cost attributable to the Fixed Assets during their construction are capitalized. Other borrowing costs are recognized as an expense in the period in which they are incurred.

4. Inventories:

(i) Raw material, fuel, packing materials and stores are valued at cost, on weighted average basis or market price whichever is lower. (ii) Finished goods are valued at lower of cost or net realizable value.

5. Investment:

Investments are intended for long-term and are carried at cost. Provision is made for diminution, other than temporary, in the value of such investments.

6. Retirement Benefits:

Retirement benefits are dealt in the following manner:

(a) Provident funds are accounted on accrual basis with contributions made to recognized fund.

(b) Gratuity and superannuation liabilities are determined on the basis of actuarial valuations done at the . end of the year and accordingly contributions are made to recognized fund set-up for the purpose.

(c) Leave encashment benefit on retirement is determined on the basis of actuarial valuation and such liability is provided in the accounts.

7. Foreign Exchange transactions:

(a) Foreign Currency transactions are initially recorded at the rates of exchange ruling at the date of transaction.

(b) Foreign Currency Loans/Deposits/Liabilities are reported with reference to the rates of exchange ruling at the year end and the difference resulting from such translations as well as due to payment/ discharge of liabilities in foreign currency related to fixed assets / capital work-in-progress is adjusted in their carrying cost and that related to current assets are recognized as revenue/expenditure during the year.

(c) Export Sales in Foreign Currency are accounted for at the exchange rate prevailing at the time of realization. Expenditure in Foreign Currency is accounted for at the Exchange Rate prevailing at the time of expenditure.

8. Income recognition

Sale of goods is recognized on dispatches to customers.

Interest is recognized on time proportion basis, dividend is recognized when right to receive payment is established.


Mar 31, 2010

1. Fixed Assets :

(a) Fixed Assets are shown at historical cost except for certain land, building and Plant and Machinery, which are shown at revalued amount.

(b) In respect of projects involving construction, related pre-operation expenses upto commencement of production form part of the value of the assets capitalized.

2. Depreciation :

(a) Depreciation is charged in the accounts under straight-line method at the rates specified in schedule XIV of the Companies Act 1956.

(b) Depreciation on additions to/deductions from Fixed Assets during the year is charged on pro-rata" basis from/upto the month in which the asset is available for use/disposal.

(c) Assets costing upto Rs. 5000/- are fully depreciated in the year of capitalization.

3. Borrowing Cost

Borrowing cost attributable to the Fixed Assets during their construction are capitalized. Other borrowing costs are recognized as an expense in the period in which they are incurred.

4. Inventories :

(i) Raw material, fuel, packing materials and stores are valued at cost, on weighted average basis or market price whichever is lower.

(ii) Finished goods are valued at lower of cost or net realizable value.

5. Investment:

Investments are intended for long-term and are carried at cost. Provision is made for diminution, other than temporary, in the value of such investments.

6. Retirement benefits:

Retirement benefits are dealt in the following manner:

(a) Provident funds are accounted on accrual basis with contributions made to recognized fund.

(b) Gratuity and superannuation liabilities are determined on the basis of actuarial valuations done at the end of the year and accordingly contributions are made to recognized fund set-up for"the purpose.

(c) Leave encashment benefit on retirement is determined on the basis of actuarial valuation and such liability is provided in the accounts.

7. Foreign Exchange transactions :

(a) Foreign Curency transactions are initially recorded at the rates of exchange ruling at the date of transaction.

(b) foreign Currency Loans/Deposits/Liabilities are reported with reference to the rates of exchange ruling at the year end and the difference resulting from such translations as well as due to payment/ discharge of liabilities in foreign currency related to fixed assets / capital work-in-progress is adjusted in their carrying cost and that related to current assets are recognized as revenue/expenditure during the year.

(c) Export Sales in Foreign Currency are accounted for at the exchange rate prevailing at the time of realization. Expenditure in Foreign Currency is accounted for at the Exchange Rate prevailing at the time of expenditure.

8. Income recognition

Sale of goods is recognized on dispatches to customers.

Interest is recognized on time proportion basis, dividend is recognized when right to receive payment is established.

 
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