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Moneycontrol.com India | Accounting Policy > Pharmaceuticals > Accounting Policy followed by Vardhman Lab - BSE: 524796, NSE: N.A
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Vardhman Lab
BSE: 524796|ISIN: INE503F01014|SECTOR: Pharmaceuticals
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Mar 12
Accounting Policy Year : Mar '13
A.  Basis of Accounting:
 
 The Accounts have been prepared on the basis of historical costs and in
 accordance with the applicable accounting standards except where
 otherwise stated. For recognition of Profit & Loss, Mercantile system
 of Accounting is followed except certain Expenditure & Income, which
 are accounted for, on payments/Receipts basis on account of
 uncertainties.
 
 B.  Revenue Recognition
 
 No Revenue has been recognized during the period.
 
 C.  Fixed Assets:
 
 The Company does not hold any Fixed Assets as on Balance Sheet Date.
 
 D.  Depreciation
 
 Since the Company does not any Fixed Asset, the provision for
 Depreciation in the books is not required.
 
 E.  Inventories:
 
 The company does not hold any stock as on Balance Sheet date.
 
 F.  Foreign Currency Transaction:
 
 The Company has not indulged in the Foreign Currency Transaction.
 Therefore accounting of foreign currency transaction is out of the
 purview of accounting policy.
 
 G.  Retirement Benefits:
 
 Disclosure under Accounting Standard  15 relating to Employees Benefit
 is not applicable since there is no employee with the Company.
Source : Dion Global Solutions Limited
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