Arunoday Mills Ltd. कंपली की लेखा नीति

Mar 31, 2014

1.1 Issued subscribed and paid up equity share capital includes (a) 37,50,000 (P.Y. 37,50,000) Equity Shares allotted as fully paid up Bonus Shares by Capitalisation of General Reserve and (b) 5,00,000 (P.Y. 5,00,000) Equity Shares allotted by Conversion of Unsecured Loan.

2.1 Short term borrowings from bodies corporate includes re-called loan of Rs. 257.70 Lacs

3.1 Borrowings of Working Capital Loans from Bank of Baroda were secured by mortgage of Company''s Fixed Assets and Hypethecation of Company''s Movable Assets and Personal Guarantee of the Managing Director.

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Mar 31, 2013

(a) System of Accounting : The Company maintains its accounts on Accrual system under the historical cost convention, except for bonus and leave encashment, which are accounted on cash basis.

(b) Investments : Investments have been classified as non current and stated at cost less depletion, if permanent in nature.

(c) Inventories : Trading goods are being valued at lower of cost or net realisable value.

(d) Recognition of Sales :

Domestic Sales are inclusive of Excise Duty and net of Returns, Claims, Discounts etc.

Export Sales are being booked as per the sale invoice without netting off discounting and bank charges incurred for realisation.

(e) Gratuity Fund : Gratuity Fund is operated through approved L.I.C. Scheme, which includes death benefits as well and is administered through duly constituted independent Trust.

(f) Treatment of VAT/CENVAT : VAT/CENVAT claims wherever claimable and ascertainable, have been accounted for on accrual basis and adjusted to the relevant revenue/capital accounts. Credit for claims which are unascertainable are being taken on ''cash basis'' in the year of settlement / receipt.

(g) Provisions, Contingent Liabilities and Contingent Assets : Provision involving substantial degree of estimation in measurement are recoganised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

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Mar 31, 2011

1.1 System of Accounting : The Company maintains its accounts on Accrual system under the historical cost convention, except for bonus and leave encashment, which are accounted on cash basis.

1.2 Investments : Investments have been classified as Long term and stated at cost less depletion, if permanent in nature.

1.3 Inventories : Trading goods are being valued at lower of cost or net realisable value.

1.4 Recognition of Sales :

a) Domestic Sales are inclusive of Excise Duty and net of Returns, Claims, Discounts etc.

b) Export Sales are being booked as per the sale invoice without netting off discounting and bank charges incurred for realisation.

1.5 Gratuity Fund : Gratuity Fund is operated through approved L.I.C. Scheme, which includes death benefits as well and is administered through duly constituted independent Trust.

1.6 Treatment of VAT/CENVAT : VAT/CENVAT claims wherever claimable and ascertainable, have been accounted for on accrual basis and adjusted to the relevant revenue/capital accounts. Credit for claims which are unascertainable are being taken on 'cash basis' in the year of settlement / receipt.

1.7 Provisions, Contingent Liabilities and Contingent Assets : Provision involving substantial degree of estimation in measurement are recoganised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

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Mar 31, 2010

1.1 System of Accounting : The Company maintains its accounts on Accrual system under the historical cost convention, except for bonus and leave encashment, which are accounted on cash basis.

1.2 Investments : Investments have been classified as Long term and stated at cost less depletion, if permanent in nature.

1.3 Inventories : Trading goods are being valued at lower of cost or net receivable value.

1.4 Recognition of Sales :

a) Domestic Sales are inclusive of Excise Duty and net of Returns, Claims, Discounts etc.

b) Export Sales are being booked as per the sale invoice without netting off discounting and bank charges incurred for realisation.

1.5 Gratuity Fund : Gratuity Fund is operated through approved L.I.C, Scheme, which includes death benefits as well and is administered through duly constituted independent Trust.

1.6 Treatment of VAT/CENVAT : VAT/CENVAT claims wherever claimable and ascertainable, have been accounted for on accrual basis and adjusted to the relevant revenue/capital accounts. Credit for claims which are unascertainable are being taken on cash basis in the year of settlement / receipt.

1.7 Provisions, Contingent Liabilities and Contingent Assets : Provision involving substantial degree of estimation in measurement are recoganised when there is a present obligation as a result of past events and it is probable that there will bean outflow of resources. Contingent liabilities are not recognised but are disclosed in the notes. Contingent Assets are neither recognised nor disclosed in the financial statements.