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Moneycontrol.com India | Accounting Policy > Chemicals > Accounting Policy followed by Bhuvan Tripura Industries - BSE: 524725, NSE: N.A
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Bhuvan Tripura Industries

BSE: 524725|ISIN: INE604B01027|SECTOR: Chemicals
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Bhuvan Tripura Industries is not listed on NSE
Accounting Policy Year : Sep '95
 1. BASIS OF ACCOUNTING
 
 The financial statements are prepared under historical cost convention 
 on accrual basis and are in accordance with the requirements of the 
 Companies Act, 1956.
 
 2. FIXED ASSETS
 
 Fixed Assets are capitalised at cost inclusive of inward freight, 
 duties, taxes and installation expenses. Since the plants were under 
 construction/trial runs no depreciation has been charged on assets.  
 The capital work in progress includes capital expenditure on Project 
 Engg. Jobs of basic, detailed engineering, designs for first two 
 phases as well as product development expenses, preliminary expenses 
 and capital advances.
 
 3. EXPENDITURE DURING CONSTRUCTION PERIOD
 
 Expenditure during construction (Project Implementation) have been 
 carried forward as Preliminary & Preoperative expenditure.
 
 4. PROFIT & LOSS ACCOUNT
 
 As the Company's project is under implementation stage and the 
 manufacturing activities had not started as on 30th September, 1995, 
 no Profit & Loss Account has been prepared. All the revenue expenses 
 incurred during the year have been accounted for under Preliminary & 
 Pre-operative Expenses and will be capitalised later.
Source : Dion Global Solutions Limited
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