इंडो स्विस एक्सपोर्ट्स

 1. Depreciation has been provided on straight line method in
 accordance with schedule XIV of the Companies Act, 1956. On lease
 hold assets depreciation is written off over the primary lease
 period.
 
 Inventories
 
 1. Raw materials, stores, spares etc. at average cost on FIFO basis.
 
 2. Work in progress at cost or estimated realisable value whichever
 is lower
 
 3. Finished goods are valued at lower cost or net realisable value on
 FIFO basis. Cost in case of finished goods include material costs and
 applicable manufacturing overheads.
 
 Revenue Recognition
 
 Items of income and Expenditure are recognised on accrual basis.
 Revenue is recognised at the point of clearance by the excise
 authority in respect of sales.
 
 Gratuity
 
 Gratuity is accounted on cash basis.
 
 Miscellaneous Expenditure
 
 Preliminary, share issue and deferred revenue expenditure are
 amortised over a period of 5 years
 
 Foreign Exchange Transactions
 
 Revenue and Expenditure due in foreign currency as at the end of the
 year are taken at the current conversion rates prevailing as on the
 date of the Balance sheet. Sales values are accounted on the basis of
 sales realisation.
 
 Investments
 
 Investments are valued at cost.