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Accounting Policies of Raghoji Cement Manufacturing Co.Ltd. Company
Mar 31, 2010
Not Available
Mar 31, 2009
1. As per the decision of the Board taken at Board Meeting held on
16.01.2009 the Previous Year of the Company has been changed from 30th
June, 2009 to 31st March, 2009. The Financial Statements have been
prepared for the Current Year from 01.07.2008 to 31.03.2009. The
Previous Years figures that have been given are from 01.07.2007 to
30.06.2008.
2. Profit and Loss Account has not been drawn up since the Company has
not commenced Commercial Production.
3. The Provisions of Part II of Schedule VI are not applicable to this
Company as the Company has not commenced Commercial Production.
4. The Board of Directors at the Board Meeting held on 27.06.2007 to
write off the Miscellaneous Expenditure and Deferred Revenue
Expenditure to the extent not written off incurred upto 30.06.2007 in 5
equal installments from the commencement of commercial production.
Since the Company has not commenced commercial production, the same has
not been written off.
5. No Depreciation has been provided, except on Furniture and Fixtures
and Office Equipment. since the Company has not commenced Commercial
Production. The Board has decided at its Meeting held on 27.06.2007 to
provide Depreciation on all the assets when the Company commences
production of Portland Cement.
6. The Board has decided at its Meeting held on 13.01.2007 to produce
Portland Blended Cement. Accordingly, the amount spent upto 31.03.2009
in respect of balancing equipment and other expenditure in respect of
manufacture of Portland Blended Cement has been shown under Capital
Works in Progress.