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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