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moneycontrol.com भारत | लेखांकन नीति > Petrochemicals > लेखांकन नीति फॉलोड से एसपीआईसी ऑर्गेनिक्स - बीएसई: 524142, NSE: UBPETRO

एसपीआईसी ऑर्गेनिक्स

बीएसई: 524142  |  NSE: UBPETRO  |  ISIN:  |  Petrochemicals

खोजें एसपीआईसी ऑर्गेनिक्स कनेक्शन
लेखांकन नीति साल : मार्च '00
 (1) Fixed Assets :
 
 a) Fixed assets are stated at cost inclusive of expenditure upto the
 date of commencement of commercial production.  Increase/Decrease in
 liability due to exchange variance referred to in policy 2 below is
 adjusted to the cost of the relevant fixed assets.
 
 b) Customs duty on imported equipment is capitalised on the basis of
 provisional assessment of duty subject to adjustment on final
 assessment.
 
 c) Cost of licences under Patent rights for process knowhow and
 technical information amounting to Rs. 470.65 lacs (included under
 Plant and Machinery) has been fully amortised over a period of 9 years
 from 1990-91.
 
 d) Depreciation on Straight line method is provided at the rates
 prescribed in Schedule XIV of the Companies Act, 1956.  Development
 cost on leasehold cost on leasehold land is amortised from 1998-99
 over the remaining lease period.  Assets costing less than Rs. 5,000/-
 are fully depreciated.
 
 (2) Foreign currency Transactions :
 
 a) Outstanding foreign currency liabilities relating to the acquisition
 of fixed assets are stated at the rate of exchange of prevailing as on
 the Balance Sheet date with corresponding adjustment to the cost of
 relevant fixed assets.
 
 b) Current liabilities on unremitted purchases are consistently
 translated at the rate of exchange prevailing as on the date of the
 Balance Sheet.
 
 c) The foreign currency transactions relating to the purchases are
 recorded at the exchange rate prevailing on the date of the
 transaction.  The difference in exchange between the date of the
 transaction and the date of settlement including the unpaid balances
 are shown as income or expenses under the head exchange rate variation.
 
 (3) Inventories :
 
 a) Inventories are valued at the lower of cost ascertained on weighted
 average formula and the net realisable value.  Modvat credit availed is
 reduced from the cost of raw materials or stores or asset acquired and
 the unavailed credit is carried forward.
 
 b) Machinery Spare which can be used only in connection with an item of
 fixed asset and whose use as per technical assessment is expected to
 be irregular, is capitalised and depreciated over the residual useful
 life of the respective asset.
 
 (4) Revenue Recognition :
 
 Sales and other income are accounted on accrual basis.  Sales is
 inclusive of Excise Duty.
 
 (5) Research and development :
 
 Research and development expenses are absorbed in the Profit & Loss
 Account.
 
 (6) Retirement Benefits :
 
 Contribution to Provident Fund and Family Pension Fund are charged to
 Profit and Loss Account.
 
 Monthly contribution of Superannuation fund and annual contribution by
 way of premium of Life Insurance Corporation of India Group Gratuity
 Scheme are charged to Profit and Loss Account on accrual basis.  Leave
 encashment benefit of retirement has been provided for based on the
 leave eligible as of date.
 
 (7) Grant under ODS Phase out programmes :
 
 Grants received from World Bank for procurement of Capital Goods in
 connection with setting up pilot plant facilities under the ODS Phase
 out programme undertaken by the company are shown as deduction from the
 cost of such assets.
 
 (8) Contingent Liabilities :
 
 All known liabilities of material nature have been provided for in the
 accounts liabilities of contingent nature which have been disclosed at
 their estimated value in the notes on accounts.
 
 (9) Deferred Revenue Expenditure :
 
 Expenditure incurred by the company on process knowhow is amortised
 over a period 5 years.  Unabsorbed price differential claim on
 settlement with a raw material supplier is absorbed on the quantum of
 supplies on which enduring benefits accrue.
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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  • MS ON ADANI PORTS : Overweight रेटिंग, लक्ष्य `408/Sh
  • CITI ON COAL INDIA : BUY रेटिंग, लक्ष्य बढ़ाकर `270/Sh
  • CITI ON MOTHERSON SUMI : Neutral रेटिंग, लक्ष्य बढ़ाकर `135/Sh
  • CITI ON BRITANNIA IND : BUY रेटिंग, लक्ष्य बढ़ाकर `3575/Sh
  • CITI ON INDIAN ECONOMY : Q2 में GDP ग्रोथ 4.9% रहने का अनुमान
  • CITI ON INDIAN ECONOMY : Q3 में ग्रोथ 6% के करीब रहने का अनुमान
  • HSBC ON IIP : IIP पर दबाव की स्थिति बरकरार
  • HSBC ON IIP : कैपिटल गुड्स में लगातार 5वें महीने गिरावट

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