| 1. Internally manufactured components are excluded from raw materials
and classified as:
i) finished goods, if they are sold without further processing.
ii) work-in-progress or as 'manufactured components subject to further
processing' or as 'semi-finished products' or 'intermediate products',
if they are sold only after further processing . iii) manufactured
components', if they are sometime sold without further processing
Under the Revised Schedule VI, there is no need to give quantitative
details for any of the items.
Details required to be given under broad heads for work-in-progress s
hould be determined based on the nature of each business and other facts
and circumstances. Normally 10% of total value of work-in-progress is
considered as an acceptable threshold for determination of broad heads.
Any other threshold can also be considered taking into account the
concept of materiality and presentation of true and fair view of the
financial statements.
* Mode of valuation for each class of inventories should be disclosed,
if other than "at lower of cost and net realisable value".
* Details of loans and advances to related parties should be given in
accordance with the disclosure requirements contained in AS 18 Related
Party Disclosures.
*Or any of them either severally or jointly with any other person to be
stated separately.
* To disclose current assets that do not fit into any other asset
category.
In case any amount classified under this category is doubtful,
it is advisable that such doubtful amount as well as any provision made
there against is separately disclosed.
2. Contingent liabilities and commitments (to the extent not
provided for) -
(i) Contingent liabilities shall be classified as:
(a) Claims against the company not acknowledged as debt;
(b) Guarantees;
(c) Other money for which the company is contingently liable.
(ii) Commitments shall be classified as:
(a) Estimated amount of contracts remaining to be executed -
on capital account and not provided for;
(b) Uncalled liability on shares and other investments
partly paid;
(c) Other commitments (specify nature).
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3. The amount of dividends proposed to be distributed to equity and
preference shareholders for the period and the related amount per share
shall be disclosed separately. Arrears of fixed cumulative dividends on
preference shares shall also be disclosed separately.
4. Where in respect of an issue of securities made for a specific
purpose, the whole or part of the amount has not been used for the
specific purpose at the balance sheet date, there shall be indicated by
way of note how such unutilised amounts have been used or invested.
5. If, in the opinion of the Board, any of the assets other than fixed
assets and non-current investments do not have a value on realisation in
the ordinary course of business at least equal to the amount at which
they are stated, the fact that the Board is of that opinion, shall be
stated.
6. Balance confirmation have not been received in certain cases. Thus
such balance due to or due from the parties are subject to necessary
adjustment on receipt of confirmation.
7. We relying the entry appearing in the books of accounts when ever
proper supporting not attached.
8. Additional information pursuant to the provision of paragraph 3 & 4
in part 11 of the Schedule vi of the companies act 1656 is not
applicable.
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