a) General :
 
 The books of accounts have been maintained on mercantile basis and
 according to the double entry system of accounting.
 
 b) Fixed Assets & Depreciation :
 
 i) Fixed Assets are stated as cost less depreciation.
 
 ii) Depreciation is provided on straight line method on prorata basis
 as specified in Schedule XIV of the Act as per Notification No. GSR 756
 (E) dated 16.12.1993.
 
 iii) Proportionate cost of lease hold has not been written off.
 
 c) Investments :
 
 Investment is stated at cost.
 
 d) Inventories :
 
 i) Inventories of raw materials, stores & spares, LPG, Electrical
 goods, raw materials, packing materials and finished mould and other
 items are valued at cost.
 
 ii) inventories of work-in-progress and finished moulds and other items
 are valued at estimated cost
 
 iii) Inventory of finished goods is valued at realisable cost.
 
 e) Sales :
 
 Sales are shown at gross figure inclusive of trade discount and net up
 return Rs. 1131.
 
 f) Excise Duty :
 
 Excise Duty payable on finished products lying in excise stores is
 accounted for at the time of their clearance.