Nirman Cements Ltd. நிறுவனத்தின் கணக்கியல் கொள்கைகள்

Mar 31, 2012

A. Basis of Accounting

The account of the company are prepared on accrual basis under the historical cost convention in accordance with accounting standards referred to in Section (3C) of Section 211 of the Companies Act, 1956 and other relevant provision of the said Act.

b. Revenue Recognition

Sale of goods is on ex-factory basis as per contracts. Sales are accounted on dispatch to customers. Sales includes amount recovered towards excise duty but excludes amount charged towards sales tax. Cenvat credit on excise duty paid goods in accounted for by reducing the purchase cost of related goods.

c. Fixed assets are stated at cost. The cost of fixed assets includes other incidental expenses incurred up to the date of commissioning of such assets

d. Depreciation

i. Depreciation on fixed assets has been provided on straight-line method at the rates prescribed in Schedule XIV of the Companies Act, 1956.

ii. Depreciation on Addition in fixed assets has been provided for addition on pro-rata basis from the date on which assets have been put to use.

iii No Depreciation is being provided on the freehold land.

e. Investment in shares are valued at cost of acquisition. No adjustment is being made for any diminution in market value of shares.

f. Inventories : Basis of valuation of inventories are Raw Material : At Cost

Consumable Stores : At Cost Finished Goods : At Average cost Packing Materials : At Cost

g. Miscellaneous expenditure (To the extent not written off)

One tenth of Preliminary expenses and public issue expenses have been written off during the year.

h. Gratuity

Accounting for gratuity will be made on cash basis and no provision is being made.

i)Liability for expenses include a sum of Rs 2578460 payable to Bihar state electricity board since several years

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Mar 31, 2011

A. Basis of Accounting

The account of the company are prepared on accrual basis under the historical cost convention in accordance with accounting standards referred to in section (3C) of section 211 of the Companies Act, 1956 and other relevant provision of the said act.

b. Revenue Recognition

Sale of goods is on ex-factory basis as per contracts. Sales are accounted on dispatch to customers. Sales includes amount recovered towards excise duty but excludes amount charged towards sales tax. Cenvat credit on excise duty paid goods in accounted for by reducing the purchase cost of related goods.

c. Fixed assets are stated at cost. The cost of fixed assets includes other incidental expenses incurred up to the date of commissioning of such assets.

d. Depreciation

I. Depreciation of fixed assets has been provided on straight-line method at the rates prescribed in Schedule XIV of the Companies Act, 1956.

II. Depreciation on addition in fixed assets has been provided for addition on pro-rata basis from the date on which assets have been put to use.

III. No Depreciation is being provided on the freehold land.

e. Investment in shares are valued at cost of acquisition. No adjustment is being made for any diminution in market value of shares.

f. Inventories : Basis of valuation of inventories are Raw material : At Cost

Consumable Stores : At Cost Finished Goods : At Average Cost

Packing Materials : At Cost '

g. Miscellaneous expenditure (To the extent not written off)

One tenth of Preliminary expenses and public issue expenses have been written off during the year.

h. Gratuity

Accounting for gratuity will be made on cash basis and no provision is being made.

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Mar 31, 2010

A. Basis of Accounting The account of the company are prepared on accrual basis under the historical cost convention in accordance with accounting standards referred to in section (3C) of section 211 of the Companies Act, 1956 and other relevant provision of the said act.

b. Revenue Recognition Sale of goods is on ex-factory basis as per contracts. Sales are accounted on dispatch to customers. Sales includes amount recovered towards excise duty but excludes amount charged towards sales tax. Convert credit on excise duty paid goods in accounted for by reducing the purchase cost of related goods.

c. Fixed assets are stated at cost. The cost of fixed assets includes other incidental expenses incurred up to the date of commissioning of such assets.

d. Depreciation

I. Depreciation of fixed assets has been provided on straight-line method at the rates prescribed in Schedule XIV of the Companies Act, 1956.

II. Depreciation on addition in fixed assets has been provided for addition on pro-rata basis from the date on which assets have been put to use.

III. No Depreciation is being provided on the freehold land.

e. Investment in shares are valued at cost of acquisition. No adjustment is being made for any diminution in market value of shares.

f. Inventories : Basis of valuation of inventories are Raw material : At Cost Consumable Stores : At Cost Finished Goods : At Average Cost Packing Materials : At Cost

g. Miscellaneous expenditure (To the extent not written off) One tenth of Preliminary expenses and public issue expenses have been written off during the year.

h. Gratuity

Accounting for gratuity will be made on cash basis and no provision is being made.