moneycontrol.com भारत | लेखांकन नीति > Packaging > लेखांकन नीति फॉलोड से आशीष पॉलीप्लास्ट लिमिटेड - बीएसई: 530429, NSE: N.A

आशीष पॉलीप्लास्ट लिमिटेड

बीएसई: 530429  |  NSE: N.A  |  ISIN: INE831C01016  |  Packaging

खोजें आशीष पॉलीप्लास्ट लिमिटेड कनेक्शन मार्च 14
लेखांकन नीति साल : मार्च '15
 A Basis of preparation of financial statements and revenue recognition
 1 The financial statements have been prepared under the historical cost
 convention in accordance with the generally accepted accounting
 principles and the provisions of the Companies Act, 2013 as adopted
 consistently by the company.
 2 Accounting policies not specifically referred to otherwise are
 consistent with generally accepted accounting principles followed by
 the company.
 3 Sale of goods is recognised on transfer of significant risk and
 rewards of ownership which is generally on shipment and dispatch to
 customers. Sale is exclusive of excise duty and other levies wherever
 applicable. Other revenue/ cost are recognised on accrual basis.
 B Fixed Assets & Depreciation / Amortisation : -
 1 Fixed assets are stated at cost of acquisition or construction net of
 Excise, Value Added Tax less accumulated depreciation. All cost, till
 commencement of commercial production is capitalized.
 2 Depeciation is systematical allocated over the useful life of
 tangible assets as specified in part C of schedule II of Companies Act
 2013. Intangible assets (except goodwill) are amortized equally over
 five years. Goodwill is tested for impairment annually.
 3 Pursuant to accounting standard 28 Impairment of Assets issued by
 the ICAI, The Company has a system to review the carrying cost of all
 the assets vis-a-vis recoverable value and impairment loss, if any is
 charged to Profit and Loss account in the year in which an asset is
 identified as impaired. The impairment loss recognized in prior
 accounting periods is reversed if there has been a change in estimate
 of recoverable amount.
 C Foreign Currency Transactions: -
 Transactions denominated in foreign currency are normally recorded at
 the exchange rate prevailing at the time of the transactions. Monetary
 items denominated in foreign currency remaining unsettled at the
 year-end are restated at the exchange rate prevailing at the end of the
 year. Gains and losses on foreign exchange transactions other than
 those relating to fixed assets are charged to profit & loss account.
 Premium paid on forward contract has been recognized over the life of
 the contract. Any profit or loss on cancellation or renewal of such
 forward exchange contract is recognised as income or expenditure for
 the period.
 D Inventories
 Inventories are valued at lower of cost and net realizable value except
 by products which is valued at estimated realizable value. In
 determining the cost of raw Material, stores spares, and other material
 the first in first out (FIFO) method is used. Finished goods and work
 in progress include material cost, labour and factory overheads and
 excise duty, if applicable.
 E Employee Retirement Benefit :-
 1 Long Term Employee Benefits:
 Defined Contribution Plans:
 The company has Defined Contribution plans for post employment benefits
 namely Provident Fund. Under the Provident Fund Plan, the Company
 contributes to a Government administered provident fund on behalf of
 its employees and has no further obligation beyond making its
 The company''s contributions to the above funds are charged to profit
 and loss account every year.
 2 Defined Benefit Plans:
 The company has a Defined Benefit plan namely Gratuity. For Leave
 Encashment Benefits the leave wages are payable to all eligible
 employees at the rate of daily salary/wages for each day of accumulated
 leave and are paid during the financial year itself. Therefore no
 liability is accrued at the end of the financial year for leave
 benefits as per practice followed by the company year to year.
 Liability for Defined Benefit Plan - Gratuity is provided on the basis
 of valuations, as at the balance sheet date, carried out by an
 independent actuary. The actuarial method used by independent actuary
 for measuring the liability is the Projected Unit Credit Method.
 Actuarial gains and losses, which comprised experience adjustment and
 the effect of changes in actuarial assumptions, are recognized
 immediately in the Profit and Loss Account.
 F Lease Rent
 Lease rentals are expensed with reference to lease terms and other
 G Taxation
 Taxation expense comprises current tax and deferred tax charge or
 credit. Provision for income tax is made on the basis of the assessable
 income at the tax rate applicable to the relevant assessment year.
 Advance tax and tax deducted at source are adjusted against provision
 for taxation and balance, if any, are shown in the balance sheet under
 respective heads
 H Deferred Taxation
 Deferred tax resulting from timing differences between book and tax
 profit is accounted for under the liability method at the current rate
 of Income tax to the extent that the timing differences are expected to
 crystallize as deferred tax charge/ benefit in the profit and loss a/c
 and as deferred tax Assets/Liability in the Balance-Sheet.
 I Borrowing Cost
 Borrowing cost that are attributable to the acquisition or construction
 of qualifying assets are capitalised as part of the cost of such
 assets. A qualifying asset is one that necessarily take substantial
 period of time to get ready for intended use. All other borrowing cost
 are charged to Revenue.
 J Excise Duty
 1 Excise duty payable is accounted based on removal of goods.
 2 The amount of cenvat credits in respect of materials consumed for
 sales is deducted from cost of material consumed
 K Use of Estimates
 In preparing Company''s financial statements in conformity with
 accounting principles generally accepted in India, management is
 required to make estimates and assumptions that affect the reported
 amounts of assets and liabilities and the disclosure of contingent
 liabilities at the date of the financial statements and the reported
 amounts of revenue and expenses during the reporting period:; actual
 results could differ from those estimates.
 L Impairment of Assets
 An asset is treated as impaired when the carrying cost of assets
 exceeds its recoverable value. An impairment loss is charged to the
 profit & Loss account in the year in which an asset is identified as
 impaired. The impairment loss recognized in prior accounting period is
 reversed if there has been a change in the estimate of recoverable
 M Provision, Contingent Liabilities and Contingent Assets
 Provisions involving substantial degree of estimation in measurement
 are recognised when there is a present obligation as result of past
 events and it is probable that there will be an outflow of resources.
 Contingent liabilities are not recognised but are disclosed in the
 notes, Contingent assets are neither recognised nor disclosed in the
 financial Tatements.
 N Related Party Transaction
 Parties are considered to be related if at any time during the year;
 one party has the ability to control the other party or to exercise
 significant influence over the other party in making financial and / or
 operating decision.
 o Earning Per Share (EPS)
 The earning considered in ascertaining the company''s EPS comprises the
 net profit for the period after tax attributed to equity shareholders.
 The number of shares used in computing basic EPS is the weighted
 average number of shares outstanding during the year.
 P Government Grants
 Grants received against specific fixed assets are adjusted to the cost
 of the assets and those in the nature of promoter''s contribution are
 credited to capital reserve. Revenue grants are recognized in the
 profit and loss account in accordance with the related schemes and in
 the period in which these are accrued and it is reasonably certain that
 the ultimate collection will be made.
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `3127.36 Cr की बिकवाली की
  • MARKET CUES : DIIs ने कैश में `3497.5 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `5503.79 Cr की खरीदारी की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `2200.55 Cr की बिकवाली
  • MARKET CUES : इंडेक्स ऑप्शंस में `6881.62 Cr की खरीदारी
  • MARKET CUES : स्टॉक फ्यूचर्स में `726.32 Cr की खरीदारी
  • CITI ON INDUSIND BANK : Buy रेटिंग, लक्ष्य `1900/Sh
  • MACQUARIE ON INDUSIND BANK : Buy रेटिंग, लक्ष्य `1558/Sh
  • MACQUARIE ON CONCOR : Outperform रेटिंग, लक्ष्य `625/Sh
  • GOLDMAN SACHS ON ICICI PRU : Buy रेटिंग कायम, लक्ष्य बढ़ाकर `530/Sh

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(August 06, 2018)

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