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Accounting Policies of VCCL Ltd. Company

Mar 31, 2015

The accounts have been prepared on historical cost convention.

[ii] Fixed Assets and Depreciation

[a] Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and other incidental expenses.

[b] Depreciation is charged on a prorata basis at the SLM rates prescribed in Schedule II of the Companies Act, 2013 for the remaining useful life of the fixed assets. No write-off is being made in respect of leasehold land.

[iii] Inventories

[a] Raw materials and components are valued at cost.

[b] Finished goods are valued at cost or market value, whichever is lower. Finished stock lying in the factory premises are valued exclusive of excise duty. Custom duty on material lying in Bond or in transit is accounted for at the time of clearance thereof.

[iv] Recognition of Income and Expenditure

All Income and Expenditure are accounted on an accrual basis.


Mar 31, 2014

The accounts have been prepared on historical cost convention. [ii] Fixed Assets and Depreciation

[a] Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and other incidental expenses.

[b] Depreciation is charged on a prorata basis at the SLM rates prescribed in Schedule XIV of the Companies Act, 1956. No write-off is being made in respect of leasehold land.

[iii] Inventories

[a] Raw materials and components are valued at cost.

[b] Finished goods are valued at cost or market value, whichever is lower. Finished stock lying in the factory premises are valued exclusive of excise duty. Custom duty on material lying in Bond or in transit is accounted for at the time of clearance thereof.

[iv] Recognition of Income and Expenditure All Income and Expenditure are accounted on an accrual basis.


Mar 31, 2013

(i) The accounts have been prepared on historical cost convention.

(ii) Fixed Assets and Depreciation

(a) Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and other incidental expenses.

(b) Depreciation is charged on a prorata basis at the SLM rates prescribed in Schedule XIV of the Companies Act, 1956. No write-off is being made in respect of leasehold land.

(iii) Inventories

(a) Raw materials and components are valued at cost.

(b) Finished goods are valued at cost or market value, whichever is lower. Finished stock lying in the factory premises are valued exclusive of excise duty. Custom duty on material lying in Bond or in transit is accounted for at the time of clearance thereof.

(iv) Recognition of Income and Expenditure

All Income and Expenditure are accounted on an accrual basis.


Mar 31, 2012

(i) The accounts have been prepared on historical cost convention.

(ii) Fixed Assets and Depreciation

(a) Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and other incidental expenses.

(b) Depreciation is charged on a prorata basis at the SLM rates prescribed in Schedule XIV of the Companies Act, 1956. No write-off is being made in respect of leasehold land.

(iii) Inventories

(a) Raw materials and components are valued at cost.

(b) Finished goods are valued at cost or market value, whichever is lower. Finished stock lying in the factory premises are valued exclusive of excise duty. Custom duty on material lying in Bond or in transit is accounted for at the time of clearance thereof.

(iv) Recognition of Income and Expenditure :

All Income and Expenditure are accounted on an accrual basis.


Mar 31, 2011

[i] The accounts have been prepared on historical cost convention. [ii] Fixed Assets and Depreciation

[a] Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and other incidental expenses.

[b] Depreciation is charged on a prorata basis at the SLM rates prescribed in Schedule XIV of the Companies Act, 1956. No write-off is being made in respect of leasehold land.

[iii] Inventories

[a] Raw materials and components are valued at cost.

[b] Finished goods are valued at cost or market value, whichever is lower. Finished stock lying in the factory premises are valued exclusive of excise duty. Custom duty on material lying in Bond or in transit is accounted for at the time of clearance thereof.

[iv] Recognition of Income and Expenditure :

All Income and Expenditure are accounted on an accrual basis.


Mar 31, 2010

[i] The accounts have been prepared on historical cost convention. [ii] Fixed Assets and Depreciation

[a] Fixed assets are stated at cost less accumulated depreciation. Cost of acquisition or construction is inclusive of freight, duties, taxes and other incidental expenses.

[b] Depreciation is charged on a prorata basis at the SLM rates prescribed in Schedule XIV of the Companies Act, 1956. No write-off is being made in respect of leasehold land.

[iii] Inventories

[a] Raw materials and components are valued at cost.

[b] Finished goods are valued at cost or market value, whichever is lower. Finished stock lying in the factory premises are valued exclusive of excise duty. Custom duty on material lying in Bond or in transit is accounted for at the time of clearance thereof.

[iv] Recognition of Income and Expenditure :

All Income and Expenditure are accounted on an accrual basis.

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