submitted by:- kapil bansal section a roll no. pg09052 inmantec ghaziabad
TRANSCRIPT
Submitted by:- kapil bansalSection A
Roll no. PG09052Inmantec GHAZIABAD
Required by law in some cases
Translation policies in respect of foreign currency items
Going concernConsistencyAccrual
Treatment of goodwillValuation of inventoriesMethod of depreciation, depletion
Investments, fixed assets,
•Valuation of inventories
Determination of value at which inventories are carried in financial statements until the related revenues are recognized.
ascertainment of cost of inventories and any written down thereof to net realizable value.
Asset and held for sale Used in process of production and then we
sale
Example:- merchandise purchased by a retailer and
held for resale consumables and loose tools awaiting use in
the production process, land, computer software
LIFOFIFOHIFOWeighted average
The accounting policies adopted in measuring inventories, including the cost formula used
The total carrying amount of inventories and its classification appropriate to the enterprise
•Cash Flow Statements
It includes only those items which effects cash.
It is also called as statement of changes in financial position
Cash flows from (used in) operating activities
Cash receipts from customersCash paid to suppliers and employeesCash generated from operations Interest paid Income taxes paid
Purchase and sale of fixed assets
Dividends received
Interest received
Dividends paid
Interest paid
Proceeds from issue of share capital
Accounting standard :- 1 applicable to cipla
Disclosure of Particulars in the Report of Board of Directors Rules, 1988
Directors have taken proper and sufficient care for the maintenance of adequate accounting records for safeguarding the assets of the Company and for preventing and detecting fraud and irregularities
Accounting standard :- 2 applicable to Cipla
During the financial year goods physically verified by management
Perpetual inventory system
Physical verification of stock followed by management are reasonable and adequate
Accounting standard
3
applicable to cipla
Profit before tax 838.36Net cash flow operating activity 380.20Net cash used in investing activity -687.25Net cash used in fin. Activity 254.84Net inc/dec in cash and equivlnt -52.21Cash and equivalnt begin of year 131.49
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