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Accounting Policies of Zodiac JRD MKJ Ltd. Company

Mar 31, 2015

A) Basic of accounting:

i) All income and expenditure items are accounted on accrual basis except insurance claims and gratuity are accounted on realization/ payment.

ii) All fixed assets are stated at cost less depreciation.

iii) In view of compliance of AS 23 the Company has not incurred financing cost during the year which requires capitalization.

B) Depreciation :

Depreciation on the assets has been provided for by the straight line method at the rates specified in Schedule ll-Part "C" of the Companies Act, 2013, with the necessary adjustments made for the previous period through Depreciation amount in the Current Year.

C) Investment:

All the investments of the company have been considered by the management to be of long term nature and are VALUED at cost.

E) Foreign Exchange Transaction

i) The transactions in foreign currency relating to imports & exports are recorded at the exchange rate prevailing at the time of the transaction.

ii) Realized gains/losses on foreign exchange transactions are recognized in the Profit and Loss Account, at the time of actual realization of gains/ losses

iii) Unrealized exports are recorded at the exchange rate prevailing at the close of the year and unrealized exports for which Exchange sale forward contracts have been entered into with the banks are recorded at the exchange rate prevailing at the close of the year.


Mar 31, 2014

A) Basic of accounting:

i) All income and expenditure items are accounted on accurual basis except insurance claims and gratuity are accounted on realisation/ payment.

ii) All fixed assets are stated at cost less depreciation.

iii) In view of compliance of AS 23 the Company has not incurred financing cost during the year which requires capitalisation.

B) Depreciation :

Depreciation on the assets has been provided for by the straight line method at the rates specified in Schedule XIV of the Companies Act, 1956.

C) Investment :

All the investments of the company have been considered by the management to be of long term nature and are VALUED at cost.

D) Foreign Exchange Transaction

i) The transactions in foreign currency relating to imports & exports are recorded at the exchange rate prevailing at the time of the transaction.

ii) Realised gains/losses on foreign exchange transactions are recognised in the Profit and Loss Account, at the time of actual realisation of gains/ losses

iii) Unrealised exports are recorded at the exchange rate prevailing at the close of the year and unrealised exports for which Exchange sale forward contracts have been entered into with the banks are recorded at the exchange rate prevailing at the close of the year.


Mar 31, 2013

A) Basic of accounting:

i) All income and expenditure items are accounted on accurual basis except insurance claims and gratuity are accounted on realisation/ payment.

ii) All fixed assets are stated at cost less depreciation. iii) In view of compliance of AS 23 the Company has not incurred financing cost during the year which requires capitalisation.

B) Depreciation :

Depreciation on the assets has been provided for by the straight line method at the rates specified in Schedule XIV of the Companies Act, 1956.

C) Investment:

All the investments of the company have been considered by the management to be of long term nature and are VALUED at cost.

E) Foreign Exchange Transaction

i) The transactions in foreign currency relating to imports & exports are recorded at the exchange rate prevailing at the time of the transaction.

ii) Realised gains/losses on foreign exchange transactions are recognised in the Profit and Loss Account, at the time of actual realisation of gains/ losses

iii) Unrealised exports are recorded at the exchange rate prevailing at the close of the year and unrealised exports for which Exchange sale forward contracts have been entered into with the banks are recorded at the exchange rate prevailing at the close of the year.


Mar 31, 2012

A) Basic of accounting:

i) All income and expenditure items are accounted on accurual basis except insurance claims and gratuity are accounted on realisation/ payment.

ii) All fixed assets are stated at cost less depreciation.

iii) In view of compliance of AS 23 the Company has not incurred financing cost during the year which requires capitalisation.

B) Depreciation :

Depreciation on the assets has been provided for by the straight line method at the rates specified in Schedule XIV of the Companies Act, 1956.

C) Investment:

All the investments of the company have been considered by the management to be of long term nature and are VALUED at cost.

E) Foreign Exchange Transaction

i) The transactions in foreign currency relating to imports & exports are recorded at the exchange rate prevailing at the time of the transaction.

ii) Realised gains/losses on foreign exchange transactions are recognised in the Profit and Loss Account, at the time of actual realisation of gains/ losses

iii) Unrealised exports are recorded at the exchange rate prevailing at the close of the year and unrealised exports for which Exchange sale forward contracts have been entered into with the banks are recorded at the exchange rate prevailing at the close of the year.


Mar 31, 2010

A) Basic of accounting:

i) All income and expenditure items are accounted on accurual basis except insurance claims and gratuity are accounted on realisation/

payment. ii) All fixed assets are stated at cost less depreciation. iii) In view of compliance of AS 23 the Company has not incurred financing cost during the year which requires capitalisation.

B) Depreciation :

Depreciation on the assets has been provided for by the straight line method at the rates specified in Schedule XIV of the Companies Act, 1956.

C) Investment:

All the investments of the company have been considered by the management to be of long term nature and are VALUED at cost.

D) Inventories:

Inventories are valued as under 2009-10 2008-09

i) Rough Diamonds At Average Cost Of Purchases At Average Cost Of Purchases

ii) Cut & Polished Diamonds At Average Cost Of Purchases At Average Cost Of Purchases

iii) Raw Silver At Average Cost Of Purchases At Average Cost Of Purchases

iv) Gold in Gold Jewellery At Average Cost Of Purchases At Average Cost Of Purchases

v) Diamond studded in Gold Jewellery At Average Cost Of Purchases At Average Cost Of Purchases

vi) Precious & Semi precious stones At Average Cost Of Purchases At Average Cost Of Purchases

vii) Silver alloy At Average Cost Of Purchases At Average Cost Of Purchases

viii) Pearl At Average Cost Of Purchases At Average Cost Of Purchases

E) Foreign Exchange Transaction

i) The transactions in foreign currency relating to imports & exports are recorded at the exchange rate prevailing at the time of the transaction.

ii) Realised gains/losses on foreign exchange transactions are recogni -sed in the Profit and Loss Account, at the time of actual realisation of gains/ losses

iii) Unrealised exports are recorded at the exchange rate prevailing at the close of the year and unrealised exports for which Exchange sale forward contracts have been entered into with the banks are recorded at the exchange rate prevailing at the close of the year.

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