Mar 31, 2014
A) Method of Accounting :
The accounts are prepared on Historical cost concept on an accrual
basis and accounting principles generally accepted in India.
b) Fixed Assets & Depreciation :
Fixed assets are stated at original cost including freight, duty, taxes
and other incidental and pre-operative expenses relating to the
acquisition, installation on appropriate basis. Depreciation has been
charged on a straight line method as per the rates and in the manner
prescribed by Schedule XIV of the Companies Act, 1956.
c) Inventories :
Closing stocks are valued at cost or market price whichever is less and
cost is ascertained on FIFO Method Basis.
d) Gratuity and leave encashment is accounted for on cash basis.
e) Investment :
Long term investment are stated at cost less permanent diminution in
value if any.
f) Misc. Expenses :
(To the extend not written off ) : These are written off over ten
years.
g) Pre-operative Expenses :
The Pre-operative Expenses on Bio-Diesel Project has been written off.
Mar 31, 2010
A) Method of Accounting :
The accounts are prepared on Historical cost concept on an accrual
basis and accounting principles generally accepted in India.
b) Fixed Assets & Depreciation :
Fixed assets are stated at original cost including freight, duty, taxes
and other incidental and pre- operative expenses relating to the
acquisition, installation on appropriate basis. Depreciation has been
charged on a straight line method as per the rates and in the manner
prescribed by Schedule XIV of the Companies Act, 1956.
c) Inventories :
Closing stocks are valued at cost or market price whichever is less and
cost is ascertained on FIFO Method Basis.
d) Gratuity and leave encashment is accounted for on cash basis.
e) Investment :
Long term investment are stated at cost less permanent diminution in
value if any.
f) Misc. Expenses :
( To the extend not written off ) : These are written off over ten
years.
g) Pre-operative Expenses :
The Pre-operative Expenses on Bio-Diesel Project will be capitalized as
and when commercial production of the project starts.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article