Alsa Marine & Harvests Ltd. कंपली की लेखा नीति

Dec 31, 2009

1. Depreciation:

Depreciation if provided on straight line method at the rates in Schedule XIV of the Companies Act, 1956. as amended by Circular No. l/12/92/CLB dated 16.12.93, on pro rata basis for the months for which each asset is put to use.

Depreciation on addition to fixed assets due to foreign exchange rate variation is charged at applicable rates taking into account the residual useful life of the asset.

2. Fixed Assets:

The fixed assets are stated at cost less accumulated depreciation.

3. Inventories

The inventories of finished goods are valued at cost or net realisable value whichever is lower.

The stores and consumables arc valued at cost

4. Foreign Currency Transactions

a) The export sales are accounted at the Actual rates of realization.

The expenditure in foreign currency is accounted at the exchange rates prevailing on the dates of transaction.

For any variation in exchange rates in respect of Foreign currency loan for assets, the cost of the relevant Asset is increased or decreased accordingly.

Recognition of Income & Expenditure

Items of Income & Expenditure are recognised on Accrual basis except for the following which are recognised on cash basis in view of reasonable uncertainty regarding quantum:

5. Gratuity

Liability for leave encashment entitlement.

6. Borrowing Costs

Borrowing costs that are attributable to the acquisition or construction of assets are capitalised as part of the cost of the assets till the date of commissioning. All other borrowing costs are charged to revenue.

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Dec 31, 2007

1. Depreciation:

Depreciation if provided on straight line method at the rates in Schedule XIV of the Companies Act, 1956. as amended by Circular No. l/12/92/CLB dated 16.12.93, on pro rata basis for the months for which each asset is put to use.

Depreciation on addition to fixed assets due to foreign exchange rate variation is charged at applicable rates taking into account the residual useful life of the asset.

2. Fixed Assets:

The fixed assets are stated at cost less accumulated depreciation.

3. Inventories

The inventories of finished goods are valued at cost or net realisable value whichever is lower.

The stores and consumables arc valued at cost

4. Foreign Currency Transactions

a) The export sales are accounted at the Actual rates of realization.

The expenditure in foreign currency is accounted at the exchange rates prevailing on the dates of transaction.

For any variation in exchange rates in respect of Foreign currency loan for assets, the cost of the relevant Asset is increased or decreased accordingly.

Recognition of Income & Expenditure

Items of Income & Expenditure are recognised on Accrual basis except for the following which are recognised on cash basis in view of reasonable uncertainty regarding quantum:

5. Gratuity

Liability for leave encashment entitlement.

6. Borrowing Costs

Borrowing costs that are attributable to the acquisition or construction of assets are capitalised as part of the cost of the assets till the date of commissioning. All other borrowing costs are charged to revenue.