Natural Vanaspati Ltd. நிறுவனத்தின் கணக்கியல் கொள்கைகள்

Mar 31, 2014

A) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost. Depreciation has been provided on straight line basis.

B) Inventories:

a) Packing materials, stores, spares and chemicals are valued at cost, determined on FIFO basis.

b) Retirement Benefits:

Liability for gratuity is accounted on accrual basis and is computed on the basis of amounts payable if all the eligible employees had to withdraw from the services of the company at the end of the financial year and not on actuarial basis. Regular monthly contributions to provident fund are charged as revenue expenditure. Provision for Leave Encashment benefit, based on assumption that the same is payable to all employees at the end of the accounting year, is charged to Profit and Loss Account.

C) Investments:

Investments are classified into long term investments. Long-term investments are stated at cost.

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Mar 31, 2013

A) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost. Depreciation has been provided on straight line basis.

B) Inventories:

a) Raw Materials, packing materials, stores, spares and chemicals are valued at cost, determined on FIFO basis.

Work-in-process is valued at cost, finished goods at factory are valued at lower of cost or net realizable value and Consignment stocks are valued at prices prevailing at the time of despatch of materials to consignees.

b) Cost comprises of all cost of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition.

c) Retirement Benefits:

Liability for gratuity is accounted on accrual basis and is computed on the basis of amounts payable if all the eligible employees had to withdraw from the services of the company at the end of the financial year and not on actuarial basis. Regular monthly contributions to provident fund are charged as revenue expenditure. Provision for Leave Encashment benefit, based on assumption that the same is payable to all employees at the end of the accounting year, is charged to Profit and Loss Account.

C) Investments:

Investments are classified into current and long term investments. Long-term investments are stated at cost. A provision for diminution is made to recognize a decline, other than temporary, in the value of long term investments.

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Mar 31, 2012

A) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost. Depreciation has been provided on straight line basis.

B) Inventories:

a)Packing materials, stores, spares and chemicals are valued at cost, determined on FIFO basis

b) Cost comprises of all cost of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition.

c) Retirement Benefits:

Liability for gratuity is accounted on accrual basis and is computed on the basis of amounts payable if all die eligible employees had to withdraw from die services of the company at die end of die financial year and not on actuarial basis. Regular mondily contributions to provident fund are charged as revenue expenditure. Provision for Leave Encashment benefit, based on assumption that die same is payable to all employees at the end of the accounting year, is charged to Profit and Loss Account.

C) Investments: Investments are classified into current and long term investments. Long-term investments are stated at cost.

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Mar 31, 2011

A) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost. Depreciation has been provided on straight line basis.

B) Inventories:

a) Packing materials, stores, spares and chemicals are valued at cost, determined on FIFO basis.

b) Cost comprises of all cost of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition.

c) Retirement Benefits:

Liability for gratuity is accounted on accrual basis and is computed on the basis of amounts payable i all the eligible employees had to withdraw from the services of the company at the end of the financial year and not on actuarial basis. Regular monthly contributions to provident fund are charged as revenu expenditure. Provision for Leave Encashment benefit, based on assumption that the same is payable t all employees at the end of the accounting year, is charged to Profit and Loss Account.

C) Investments: Investments are classified into current and long term investments. Long-ten investments are stated at cost.

9 Figures in brackets relate to previous year.

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Mar 31, 2010

A) Fixed Assets and Depreciation:

Fixed Assets are stated at historical cost. Depreciation has been provided on straight line basis.

B) Inventories:

a) Packing Materials, stores, spares and chemicals are valued at cost, determined on FIFO basis.

b) Cost comprises of all cost of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition.

c) Retirement Benefits:

Liability for gratuity is accounted on accrual basis and is computed on the basis of amounts payable to all the eligible employees had to withdraw from the services of the company at the end of the financial year and not on actuarial basis. Regular monthly contributions to provident fund are charged as revenue expenditure. Provision for Leave Encashment benefit, based on assumption that the same is payable to all employees at the end of the accounting year, is charged to Profit and Loss Account.

C) Investments: Investments are classified into current and long term investments. Long-term investments are stated at cost.