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moneycontrol.com भारत | लेखांकन नीति > Textiles - Spinning - Cotton Blended > लेखांकन नीति फॉलोड से वोलेंट टेक्सटाइल्स - बीएसई: 531865, NSE: N.A

वोलेंट टेक्सटाइल्स

बीएसई: 531865  |  NSE: N.A  |  ISIN: INE962D01025  |  Textiles - Spinning - Cotton Blended

खोजें वोलेंट टेक्सटाइल्स कनेक्शन मार्च 12
लेखांकन नीति साल : मार्च '13
a) ACCOUNTING CONVENTION
 
 i. The Company follows the mercantile system of accounting, except in
 case of interest receivable, which will be accounted for on receipt
 basis and recognizes expenditure and income on an accrual basis except
 those with significant uncertainties.
 
 ii. The accounts are prepared on historical cost basis as going concern
 and are consistent with generally accepted accounting principles.
 
 b) FIXED ASSETS
 
 Fixed Assets are capitalised at cost of acquisition inclusive of inward
 freight, duties, taxes and incidental expenses related to acquisition.
 
 c) DEPRECIATION
 
 Depreciation on fixed Assets is provided on pro-rata basis on straight
 line method at the rates and in the manner prescribed in Schedule XIV
 of the Companies Act, 1956.
 
 d) INVENTORIES
 
 The stock is physically verified by the management at the end of the
 year and is considered for valuation purpose.
 
 i. Stock of raw material is valued at cost on FIFO basis.
 
 ii. Stock of Work-in-progress is valued at cost.
 
 iii.Stock of finished goods is valued at lower of cost or net
 realisable value. Cost referred to in (ii) and (iii) is arrived at by
 the direct cost method, including appropriate share of variable cost.
 
 iv. Stock of stores and spare parts is valued at cost.
 
 e) REVENUE RECOGNITION
 
 Revenue from the sale of goods is recognized when the titles to the
 goods and its significant risks and rewards are passed to the
 customers.
 
 f) DEFERRED TAX ASSET
 
 Deferred tax asset is not recognised unless there are timing
 differences and reversal of which will result in sufficient income or
 there is virtual certainty that sufficient future taxable income will
 be available against which such deferred tax asset can be realised.
 
 g) FOREIGN CURRENCY TRANSLATION
 
 There are no outstanding Foreign exchange dues as on 31st March, 2013.
 
 h) MISCELLNEOUS EXPENDITURE
 
 Expenses incurred on designing, marketing of new product is amortized
 over a period of five years. 1/5th of the expenses shall be written off
 every year from the year of first sale of new product.
स्रोत: रेलीगरे टेचनोवा

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