Indo Biotech Foods Ltd. కంపెనీ అకౌంటింగ్ విధానాలు

Mar 31, 2015

1 Basis of Accounting

These financial statements have been prepared in accordance with generally accepted accounting principles in India under historical cost convention on accural basis. These financial statements have been prepared to comply in all materials aspects with accounting standards notified under Section 133 of the Companies Act 2013 read with Companies (Accounts) Ruyle 2014.

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006. Where as assets acquired/ Purchased/ constructed on or after 01/10/2014 the per schedule 11 of the Companies Act 2013.

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Sep 30, 2014

1 Basis of Accounting

The financial statements are generally prepared under historical coast convention on an accrual basic in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirment benefits

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Sep 30, 2013

1 Basis of Accounting

The financial statements are generally prepared under historical coast convention on an accrual basic in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirment benefits

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Sep 30, 2012

1 Basis of Accounting

The financial statements are generally prepared under historical coast convention on an accrual basic in accordance with the provision of the companies Act, 1956 and comply in all material as facts in respect with the notified According Standards by Companies (Accounting Standard) Rules, 2006 (as amended) except gratuity and other retirment benefits

2 Fixed Assets.

All assets are stated at acquisition cost less accumulated depreciation.

3 Depreciation:

Debreciation on Fixed assets has been calculated on written down value method at the rates specified in Companies Rules,2006

4 Investments.

Investment are stated at acquisition cost. Loss/ Profit, if any arising on sale is accounted on cash basis.

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Sep 30, 2011

1. Accounting Policies :

i. Ail expenses and income to the extent considered payable and receivables are accounted for on mercantile basis wherever applicable.

ii. Fixed Assets and Depreciation:

a) Technical know how fees and Land are stated at acquisition cost. All other assets are stated at acquisition cost less accumulated depreciation.

b) Depreciation on the Fixed assets except Land and Technical know how fees has been calculated on written down value line method at the rates specified in Schedule XIV of the Companies Act 956

iii. Investments: Investments are stated at acquisition cost. iv. Inventories: As per consistent practice followed by the Company the valuation is done as under:

a) Raw materials, Packing materials, stores, components is at cost.

b) Finished Goods: at below market price (as certified by the Management). v. Sales are exclusive of sales tax if any and are net of trade discount.

vi. Retirement Benefits - There is no scheme for retirement benefits, such as gratuity, superannuation and encashment of leave on retirement benefits at present applicable in the Company.

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Sep 30, 2010

I. All expenses and income to the extent considered payable and receivables are accounted for on mercantile basis wherever applicable.

ii. Fixed Assets and Depreciation:

a) Technical know how fees and Land are stated at acquisition cost. All other assets are stated at acquisition cost less accumulated depreciation.

b) Depreciation on the Fixed assets except Land and Technical know how fees has been calculated on written down value line method at the rates specified in Schedule XIV of the Companies Act 956

iii. Investments: Investments are stated at acquisition cost. iv. Inventories: As per consistent practice followed by the Company the valuation is done as under:

a) Raw materials, Packing materials, stores, components is at cost.

b) Finished Goods: at below market price (as certified by the Management). v. Sales are exclusive of sales tax if any and are net of trade discount.

vi. Retirement Benefits - There is no scheme for retirement benefits, such as gratuity, superannuation and encashment of leave on retirement benefits at present applicable in the Company.

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Sep 30, 2009

I. All expenses and income to the extent considered payable and receivables are accounted for on mercantile basis except non provision of certain expenditure as stated below.

ii. Fixed Assets and Depreciation:

a) Technical know how fees and Land are stated at acquisition cost. All other assets are stated at acquisition cost less accumulated depreciation.

b) Depreciation on the Fixed assets except Land and Technical know how fees has been calculated on written down value line method at the rates specified in Schedule XIV of the Companies Act 956

iii. Investments: Investments are stated at acquisition cost.

iv. Inventories: As per consistent practice followed by the Company the valuation is done as under:

a) Raw materials, Packing materials, stores, components is at cost.

b) Finished Goods: at below market price (as certified by the Management). v. Sales are exclusive of sales tax and are net of trade discount.

vi. Retirement Benefits - There is no scheme for retirement benefits, such as gratuity, superannuation and encashment of leave on retirement benefits at present applicable in the Company.