Submitted by:- kapil bansal Section A Roll no. PG09052 Inmantec GHAZIABAD.

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Presentation transcript:

Submitted by:- kapil bansal Section A Roll no. PG09052 Inmantec GHAZIABAD

Required by law in some cases Translation policies in respect of foreign currency items

 Going concern  Consistency  Accrual

 Treatment of goodwill  Valuation of inventories  Method 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

 LIFO  FIFO  HIFO  Weighted 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 customers Cash paid to suppliers and employees Cash 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 Net cash flow operating activity Net cash used in investing activity Net cash used in fin. Activity Net inc/dec in cash and equivlnt Cash and equivalnt begin of year

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