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BNR Udyog

BSE: 530809|ISIN: INE355C01016|SECTOR: Finance - Investments
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BNR Udyog is not listed on NSE
Mar 13
Accounting Policy Year : Mar '15
 (a) FIXED ASSETS : Fixed Assets are stated at Cost less depreciation
 and inclusive of expenses upto Commissioning / putting the assets to
 use.
 
 (b) DEPRECIATION: Depreciation is systematicaliy allocated over the
 useful life of the asset as specified in Schedule II of Companies
 Act,2013.
 
 (c) INVENTORIES: Inventories of landed properties are valued at cost of
 acquisition to the company or market rate value whicheve is lower. In
 respect of construction, work-in-progress, the Company has adopted
 completed Contract method of accounting and hence carried over the cost
 of work-in-progress
 
 (d) INVESTMENTS: No Provision for diminution in the value of investment
 is made in the books as the Company is valuing investments at cost
 consistently and provision for diminution in value of long term
 Investments is made only if, such a decline is permanent in the opinion
 of the Management.
 
 (e) RECOGNITION OF INCOME AND EXPENDITURE : Items of Income and
 Expenditure are Recognised on accrual basis except otherwise stated in
 notes to Accounts or where the same are not in the knowledge in the
 ordinary course of business.
 
 (f) FOREIGN EXCHANGE TRANSACTIONS : The transactions in foreign
 currency are recorded at the exchange rate prevailing on the date of
 the transactions which define to be date of Invoice Monetary Assets &
 Liabilities denominated in Foreign currency are translated at the rate
 of exchange at the balance sheet date and resulatant gain or loss is
 recognised in the profit and loss account.
 
 (g) IMPAIRMENT OF ASSETS : The carrying amounts of assets are reviewed
 at each Balance sheet date for any Indication of impairment based on
 internal/external factors.  An asset is treated as impaired when the
 carrying cost of the asset exceeds its recoverable value. An impairment
 loss if any, is charged to Profit and Loss Account in the year in which
 an asset is identified as impaired. Reversal of impairment losses
 recognised in prior years in is recorded when there is an indication
 that the impairment losses recognised for the assets no longer exits or
 have decreased.
 
 (h) RETIREMENT & OTHER BENEFITS:
 
 (I) Contribution to the Provident Fund are charged to Profit & loss
 account each year, (ii) The Company has opted for the Group Gratuity -
 cum - Life Assurance Fund of The Life Insurance Corporation of India
 (LIC). The Company''s contribution to the Scheme is charged to the
 Profit & Loss A/c. for the year.
 
 (i) PROVISION FOR CURRENT & DEFFERED TAX : The provision for current
 tax is made after taking into consideration benefit admissible and
 applicability of Minimum Alternate Tax under the provision of Income
 Tax Act, 1961. Deffered Tax which is resulting on account of timing
 difference between taxable and accounting income is accounted for
 applying the tax rate and laws that are acted or substantively acted as
 on balance sheet date. It is reconised subject to prudence.
 
 (j) SEGMENT REPORTING:Segments are indentified having regard to the
 dominant source and nature of risks and returns the internal
 organisation and management structure. Inter segment revenue are
 accounted on the basis of transactions which are primarily market led.
 Revenue and expenses which relate to the enterprise as a whole and are
 not attributable to segments are included in unallocable expenses.
 
Source : Dion Global Solutions Limited
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