moneycontrol.com भारत | लेखांकन नीति > Textiles - Processing > लेखांकन नीति फॉलोड से आधुनिक यार्नस - बीएसई: 514452, NSE: N.A

आधुनिक यार्नस

बीएसई: 514452  |  NSE: N.A  |  ISIN:  |  Textiles - Processing

खोजें आधुनिक यार्नस कनेक्शन मार्च 07
लेखांकन नीति साल : मार्च '08
1.  System of Acounting

a) The Company generally, except under uncertain circumstances, follows mercantile system of accounting and recognizes Income and Expenditure on accrual basis.

b) Financial statements are based on historical cost. These are not adjusted to reflect the impact of the changing value for the purchasing power of money.

c) Accounting Policies not specifically referred to otherwise are consistent and in consonance with generally accepted accounting principles followed by the Company.

2. Fixed Assets

Fixed assets are stated at cost of acquisition or construction inclusive of freight, duties and taxes and incidental expenses, less accumulated depreciation.

3. Investment

Long Term Investments are valued at cost of acquisition. Short Term Investments are valued at cost or market value whichever is lower.

4. Depreciation

a) No depreciation is provided for leasehold land, freehold land and Plant & Machinery acquired on lease.

b) Depreciation on fixed assets is being provided on Straight line method basis at the rates specified in Scheduled XIV to the Companies Act, 1956 till the WDV is reduced to 5% of the Gross Value. No depreciation is provided on such balance amount of 5%.

c) Depreciation in respect of additions to fixed assets is provided on prorata basis from the month in which such assets are acquired/ installed/ started commercial production.

d) Depreciation on fixed assets sold, discarded or demolished during the year is being provided at their respective rates up to the month in which such assets are sold, discarded or demolished.

5. Valuation of Inventories

a) Raw materials and Work in process are being valued at cost.

b) Stores, Spares and Tools are being valued at cost.

c) Goods in transit are stated at actual cost up to the date of the Balance Sheet.

d) Finished Stocks are being valued at cost or market value which ever is lower.

6. Sales

a) Sales are inclusive of excise duty if applicable after deducting rebate & discount, claims, shortage.

b) Processing charges, in respect of fabrics processing, are exclusive of excise duty.

7. Gratuity & Bonus

Gratuity & Bonus are provided on cash basis.

8. Miscellaneous Expenditure

Miscellaneous expenditure, such as preliminary expenditure, public issue expenditure and deferred revenue expenditure are amortised over a period of 10 years from the financial year in which it is incurred.

9. Prior Period Expenses / Income

The Company follows the practice of making adjustments through Prior Period Items in respect of ail material transactions pertaining to the period prior to current accounting year.

10. Income from Investments

Income from Investments, wherever appropriate, is taken into revenue on receipt basis and tax deducted at source thereon is treated as advance tax.

11. Treatment of Contingent Liabilities

Contingent liabilities are disclosed by way of note to the accounts. Disputed demands in respect of Central Excise, Customs, Income Tax and other proceedings etc. are disclosed as contingent liabilities.

12. Capital Incentives / Subsidies

Capital incentives/subsidies under various package schemes of Central/State Governments for new/expansion/Modernisation of Industrial undertaking are being accounted for on sanctioned basis.

In line with the Accounting Standard 12 Accounting for Government Grants issued by the Institute of Chartered Accountants of India, the Company has credited the grants sanctioned related to depreciable fixed assets to Deferred Income and allocated to Income in the proportion in which depreciation on related assets is charged.

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • NEWS FLASH EVE : CAIT, ICAI और कई CA की वित्त मंत्री से मुलाकात
  • NEWS FLASH EVE : GST फाइलिंग में दिक्कतों पर हुई चर्चा
  • NEWS FLASH EVE : 5 अलग-अलग सरल GST प्रारुप पर हुई चर्चा
  • NEWS FLASH EVE : कुछ ग्रुप ने रियल टाइम रिटर्न्स से संबंधित डेमो, सुझाव दिए
  • NEWS FLASH EVE : प्रतिनिधियों ने GST रिटर्न फाइलिंग सरल बनाने की मांग की
  • NEWS FLASH EVE : GST फाइलिंग की मौजूदा प्रक्रिया में ज्यादा दिक्कतें नहीं
  • NEWS FLASH EVE : दिक्कतें वहां है जहां नियमों में कुछ बदलाव हुआ है
  • NEWS FLASH EVE : रिटर्न फाइल, डेबिट, क्रेडिट नोट में सुधार के लिए कई सुझाव मिले
  • NEWS FLASH EVE : FM ने 7 दिसंबर को सर्किल स्तर पर बैठक रखने का सुझाव रखा
  • NEWS FLASH EVE : सर्किल स्तर की बैठक में टैक्स पेयर्स, टैक्स कंसल्टेंट शामिल होंगे

अभी देखें




(August 06, 2018)

AT (Rs)






Super Combo

Powerful mix of both trader and investor packs with timely expert advice.


Designed especially for traders looking to tap the profit opportunities of volatile markets.


For all investors looking to unearth stocks that are poised to move.