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moneycontrol.com भारत | लेखांकन नीति > Steel - Medium & Small > लेखांकन नीति फॉलोड से जेनिथ स्टील ट्यूब्स एंड इंडस्ट्रीज - बीएसई: 526267, NSE: N.A

जेनिथ स्टील ट्यूब्स एंड इंडस्ट्रीज

बीएसई: 526267  |  NSE: N.A  |  ISIN:  |  Steel - Medium & Small

खोजें जेनिथ स्टील ट्यूब्स एंड इंडस्ट्रीज कनेक्शन
लेखांकन नीति साल : मार्च '10
I) METHOD OF ACCOUNTING :

The Company follows Mercantile System of Accounting and reconize income and expenditure on an accrual basis except if stated otherwise.

II) REVENUE RECOGNITION :

Sales is inclusive of Excise Duty, exclusive of value added tax (wherever applicable) and are net of Sales Return and trade discount and income from conversion. Sales of products and prices are recognized when no significant uncertainty exist regarding the amount of consideration and it is not unreasonable to expect ultimate collection.

III) FIXED ASSETS & DEPRECIATION :

a) Fixed Assets are capitalised at cost including all direct costs and other expenses incurred in connection with acquisition of assets apportioned thereto and is net of modvat credit availed.

b) Depreciation is provided on Straight Line Method(SLM) at the rates prescribed in schedule XIV to the Companies Act, 1956 on pro-rata basis reference to the actual month of purchase/ installation/ Transfer.

IV) INVENTORIES :

Inventories are valued at cost or net realiasable value, whichever is lower. Cost is determined on FIFO basis.

V) INVESTMENT :

Long Term investment are stated at cost. Provision for diminution is made only if, in the opinion of the management such a decline is other than temporary.

VI) CAPITAL WORK - IN - PROGRESS :

All direct revenue expenses incurred and advances given for acquiring, erecting & commissioning of fixed assets including interest on long term loan (borrowing cost), if any utilised for meeting capital expenditure incurred during commissioning project are shown under capital work-in- progress. Incidental expenditure incurred during the construction period are allocated to concerned assets on their commissioning.

VII) TREATMENT OF MODVAT/CENVAT :

i) Modvat/Cenvat credit availed on raw material during the year is reduced from the consumption of raw material.

ii) Modvat/Cenvat credit availed on purchase of fixed assets is reduced from the cost of respective assets.

VIII) SHARE ISSUE EXPENDITURE :

Share issue Expenditure are amortised over a period of 10 Years starting from the year in which allotment is made.

IX) FOREIGN CURRENCY TRANSACTIONS :

a) Foreign currency transactions are recorded at the exchange rate prevailing at the time of transactions .

b) Foreign currency current assets & liabilities are converted at the contracted/year-end rate, as applicable.

c) Exchange difference on account of acquisition of Fixed Assets are adjusted to carrying cost of Fixed assets. Other exchange differences are adjusted m the profit & loss account

X) EMPLOYEE BENEFITS!

a) Liability towards gratuity and accumulated leave is provided on the basis of management's estimate.

b) Company monthly contribution to provident fund as accounted for on accrual basis.

XI) BORROWING COST :

a) Borrowing costs which are directly attributable to acquisition or qualifying asset are capitalised as a part of cost of the asset.

b) All the other borrowing costs are charged to profit & Loss Account in the year in which they are incurred.

XII) EARNINGS PER SHARE

In accordance with the Accounting Standard 20 (AS-20) Earning per share issued by the Institute of Chartered Accountants of India, basic earining per share is computed using the weighted average number of shares outstanding during the period.

XIII) INCOME TAX

Income tax comprises the current year tax provision and the net change in the deferred tax asset or liability in the year. Deferred tax assets and or liability are recognised for the future tax consequences of timing (temporary) differences between the carrying values of assets and liability and then respective tax bases, and operating loss carry forward. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply taxable income in the years in which the timing difference are expected to be received or settled.

XIV) OTHER ACCOUNTING POLICIES :

These are consistent with the generally accepted accounting practices.

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • NEWS FLASH EVE : HDFC Bank का Q2 मुनाफा अनुमान से बेहतर
  • NEWS FLASH EVE : मुनाफा `6345 Cr (`6107 Cr अनुमान था)
  • NEWS FLASH EVE : NII `13,515 Cr (`13,887.6 Cr का अनुमान था)
  • NEWS FLASH EVE : मुनाफा `5010 Cr से बढ़कर `6345 Cr (YoY)
  • NEWS FLASH EVE : ग्रॉस NPA 1.40% से घटकर 1.38% (QoQ)
  • NEWS FLASH EVE : नेट NPA 0.43% से घटकर 0.42% (QoQ)
  • NEWS FLASH EVE : प्रोविजनिंग `2614 Cr से बढ़कर `2701 Cr (QoQ)
  • NEWS FLASH EVE : मुनाफा `73.4 Cr से बढ़कर `91.4 Cr
  • NEWS FLASH EVE : NII `810 Cr से बढ़कर `980 Cr
  • NEWS FLASH EVE : ग्रॉस NPA 1.96% से बढ़कर 2.09% (QoQ)

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