Company Act Presentation

P.C.
Modi & Company CA Bharat Sonkhiya 20/01/2012

1
RAJASTHAN STATE MINES AND MINERALS LIMITED
Section 211 of the Companies Act, 1956
Section 211(1): Balance Sheet Section 211(2): Profit and Loss
Account

As per Part-I of
Schedule VI of the
Companies Act, 1956.
Must give a true
and fair view.
General instructions i.e.
Notes
against each item
should be followed.
As per Part-II of
Schedule VI of the
Companies Act, 1956.
Must give a true
and fair view.
P.C. Modi & Company CA Bharat Sonkhiya 20/01/2012
2

Existing Schedule VI replaced
by new Schedule VI vide
Notification No. S.O. 447(E)
dated 28
th
February, 2011.
3

All Companies (except Banking, Insurance and
Electricity Companies).

Financial years commencing on or after 1
st

April,2011.

In accordance with the existing non-converged
Accounting Standards notified under the
Companies (Accounting Standards), Rules, 2006.
Infosys has come out with full set of Financial
Statements for two quarters based on revised
Schedule VI.

4
APPLICABILITY
Revised Schedule VI A Birds eye view
5
General Instructions
Part I Form of Balance Sheet and General
Instructions for preparation of Balance Sheet
Part II Form of the Statement of Profit and
Loss and General Instructions for preparation of
Statement of Profit and Loss

6
PART I- Form of BALANCE SHEET
Name of the Company.
Balance Sheet as at.
(Rupees in.)
See accompanying notes to the financial statements
Particulars Note
No.
Figures for the
current reporting
period
Figures for the
previous reporting
period
I. Equity and Liabilities
Shareholders Fund
Share Application Money pending
for allotment
Non-current liabilities
Current liabilities
Xxx xxx
II. Assets
Non-current assets
Current assets
Xxx xxx
STATEMENT OF PROFIT AND
LOSS
Particulars Note
No.
Figures for the
current reporting
period
Figures for the
previous reporting
period
I. Revenue from operations Xxx xxx
II. Other Income Xxx xxx
III
.
Total Revenue (I+II) Xxx xxx
PART II- Form of STATEMENT OF PROFIT AND LOSS
Name of the Company
Profit and loss statement for the year ended
(Rupees in.)
7
EQUITY AND LIABILITY CLASSIFICATION
8
Other Long-
term Liabilities
Deferred tax
Liabilities(Net)
Short-term
borrowings
Current
Liabilities
Trade Payables
Long-term
borrowings
Non-Current
Liabilities
Short-term
provisions
Other current
liabilities
Share
Application
money
pending
allotment
Long-term
provisions
Equity and
Liabilities
Money
received
against share
warrants
Reserves and
Surplus
Share Capital
Shareholders
Fund
9
Assets
Current Assets
Non- Current Assets
Non- Current
Investments
Fixed Assets
Intangible
Assets under
development
Capital WIP
Intangible
Assets
Other Non-
Current Assets
Long-term Loans
and Advances
Deferred Tax
Assets (Net)
Tangible Assets
Current
Investments
Inventories
Other current
Assets
Short term Loans
and Advances
Trade
Receivables
Cash and cash
equivalents
ASSET CLASSIFICATION
Supremacy of Accounting Standards
Assets & Liabilities:-
Current
Non Current
Definitions of :-
Current
Non Current
Proposed Dividend
Cross Reference of NOTES

YET NOT IN ACCORDANCE WITH
IFRS / IND - AS
10
ACCOUNTING STANDARD WILL PREVAIL
AS PER PARAS 1 AND 6 OF GENERAL
INSTRUCTIONS
Disclosure Requirements
As per
Accounting
Standards
As per
Revised Schedule VI
CONFLICT
SUPREMACY OF ACCOUNTING STANDARDS
11
CURRENT ASSETS / LIABILITIES

NON CURRENT ASSETS/ LIABILITIES
12
IMPORTANT DEFINITIONS
CURRENT ASSETS
(Ind AS 1 PARA 66)
An asset shall be classified as current when it satisfies
any of the following criteria:-
(a) It is expected to be realized in, or is intended for sale or
consumption in, the companys normal operating cycle;
(b) It is held primarily for the purpose of being traded;
(c) It is expected to be realized within twelve months after
the reporting date; or
(d) It is cash or cash equivalent unless it is restricted from
being exchanged or used to settle a liability for at least
twelve months after the reporting date.

13
CURRENT LIABILITY
(Ind AS 1-PARA 69)
A liability shall be classified as current when it
satisfies any of the following criteria:
(a) It is expected to be settled in the companys normal
operating cycle;
(b) It is held primarily for the purpose of being traded;
(c) It is due to be settled within twelve months after the
reporting date; or
(d) The company does not have an unconditional right to
defer settlement of the liability for at least twelve
months after the reporting date. Terms of a liability
that could, at the option of the counterparty , results in
its settlement by the issue of equity instruments do not
affect its classification.
14
15

OPERATING CYCLE

An operating cycle is the time between the acquisition
of assets for processing and their realization in
cash or cash equivalents. Where the normal
operating cycle cannot be identified, it is assumed
to have a duration of 12 months.

RSMML
Mining Activity
Rock
Phosphate
Limestone
Lignite
Gypsum
Wind Farms
16

17
Normal Operating cycle in RSMML
Particulars Rock
Phosphate
Limestone Gypsum Lignite Wind
Farms
Removal of overburden 2 - - - -
Drilling & Blasting 2 2 - - -
Excavation, Processing
& Transportation to
customers
16 15 11 20 -
Supply of electricity - - - - 40
Realization of debtors 180 55 5 5 15
TOTAL 200 72 16 25 55
(In Days)
*Higher credit period has been considered as time taken for realization of debtors in case of credit sales.
*For better clarity Company may opt single higher NOC i.e. 200 days.
18
In case of RSMML, Normal Operating Cycle is
shorter than 12 months. Therefore, criteria for
Current and Non-Current will be as under:
Criteria for Current and Non-Current
Normal
Operating
Cycle (as
determined)
12 months
after
reporting
date
Whichever
is higher
19
0
Determination of Normal Operating Cycle
End of NOC
Normal Operating Cycle = 200 days
NOC
period
Assets and
liabilities
expected to be
realized and
settled in this
period will be
Current
Assets and
liabilities not
expected to be
realized and
settled in this
period will be
Non- Current
Initial Development
Period (not a part of
NOC) Removal of
overburden
Drilling &
Blasting
Excavation &
Transportation
Realization
of debtors
Start of NOC
Rock Phosphate SBU
1-2 Years 2 days
2 day 16 days 180 days
20
Q.) Rock Phosphate SBU has entered into a contract with a party on 1
st

April, 2011 for supplying minerals quarterly for three years. The first
supply was made in the month of May, 2011 amounting to `10 lacs.
However payment was not realized before 31
st
March, 2012. A sum of ` 7
lacs was expected to be received within the year and remaining ` 3 lacs
was not expected to be received till 31
st
March, 2013. The contract
required a sum of ` 2 lacs to be deposited as security deposit by the party
and the contract can be terminated at the option of party. The security
deposit was refundable after 12 months from the date of termination of
contract.
Example
21
Example
1. Debtors amounting to ` 7 lacs will not be considered as non-current on the
reporting date as these are expected to be realized within 12 months after the
reporting date as per the condition 3 of the definitions. Debtors amounting to ` 3
lacs will be considered as non-current on the reporting date as these are not
expected to be realized within 12 months after the reporting date.
2. Security deposit is considered as current if the contract is terminated before 31
st

March, 2012 as the amount is refundable within 12 months from the end of
reporting period.
Removal of
overburden
& Excavation
Processing
into finished
goods
Transportation
& billing to
customers
Payment realized
(` 7 lacs)
Reporting date
01/04/2011 01/05/2011 05/05/2011
31/03/2012
30/09/2012 31/03/2013
Non-current
Current on the basis of
condition 3 of the definition.
` 10 lacs out of NOC
` 3 lacs
22
20/11/2011
End of NOC
(200days)
Items which are always Non-Current
23
1. Deferred tax asset/liability
2. Fixed Assets
3. Capital advances for Fixed Assets

Items which are always Current
1. Finished goods/ stock-in-trade held for trading.
2. Fixed deposits until there is a restriction on
their realization.
3. Unpaid dividend lying in Investor Education
and Protection Fund Account.
4. Accrued interest.
5. Current maturities of Non-Current liabilities.
6. Current realization of Non-Current assets.
Determination of Normal Operating Cycle.

Also, proper documentation of Normal Operating Cycle along with the
Boards approval for the same.

This requires the empirical study of Companys previous years data and
past experiences.

View of Auditor and Auditee may differ on issues involving subjectivity.

Applying the test of Normal Operating Cycle (as applicable) for classifying
each and every asset and liabilities into Current and Non-Current.

24
25
Expected to
be realized
Basis
required
Documentation
required at the
time of audit
Empirical
study/
Analysis of
data
Assets:- Expected to be realized
26
Debtors
Long outstanding also includes
pending for reconciliation
against which provision is made.
Others
Documentation required
for expected realization
within 12 months.
Expected to be
realized within
12 months after
reporting date.
Not expected to
be realized
within 12
months after
reporting date.
CURRENT NON-CURRENT
27
Stock of
Minerals
Finished Goods
Stock-in-trade
Raw material
Work in Progress
Stores & Spares
Always
Current
If expected to
be consumed
within 12
months after
reporting date
YES Current
NO
Non-
Current
28
Finished
Goods/
Stock-in-
trade
Slow
moving
Obsolete
Non-
moving
Not expected
to be realized
within 12
months after
reporting
date. Hence
Non-Current
Always
Current
29
Stores
&
Spares
Slow
moving
Obsolete
Non-
moving
Not expected
to be
consumed
within 12
months after
the reporting
date. Hence,
non-current
30
If expected to be utilized/ consumed within 12
months after the reporting date then current
otherwise Non-Current
Advances to employees, claims
recoverable & security deposits
Amount expected to be realized
within 12 months after the
reporting date CURRENT
Amount expected to be realized
beyond 12 months after the
reporting date NON-CURRENT
31
Income tax
deposits
Advance tax
Always
CURRENT
Income tax
refunds
If expected to be
realized within 12
months from the
reporting date
then CURRENT.
Demand
deposits
against appeal
Expectation of
realization within
12 months after
reporting date then
CURRENT.
Others will be
NON-CURRENT.
32
Portion to be amortized
within 12 months after
reporting date shall be
CURRENT.
Unamortized portion shall
be NON-CURRENT
33
Miscellaneous Expenditure :- Deferred Revenue Expenditure
Under the head other Current/ Non-Current Assets
Investment in joint
sector/ assisted sector
Investment held for Long Term,
hence NON - CURRENT
Investment in
Subsidiaries
Investment in Subsidiaries held for
Long Term, hence NON CURRENT.
Current maturities of
long term investments
Classified as CURRENT
34
Cash in hand
Balances in
P.D. Account
Balances with banks
in current accounts
Balances with
banks in Fixed
Deposits
Remittances
in transit
Cash & cash
equivalents:
No
restriction
from being
exchanged or
used to settle
a liability
35
36
37
The Company does
not have any
unconditional right to
defer settlement of
the liability for at
least 12 months after
the reporting date.
Criteria for Current Liabilities
CURRENT
NON
CURRENT
Yes
No
Running bills of Contractors pending to
be settled.
1. Have to be settled within 12 months after reporting date
2. No unconditional right to defer beyond 12 months
3. Expected to be settled within the Normal Operating Cycle of the
Company
Current
liability
Non-Current
liability
38
Classification of Liabilities
Liability arises and no
unconditional right to
defer payment / settlement
beyond 12 months after the
reporting date.
Deferred payment
credit to SUZLON
Advances from
subsidiary
Companies
Non-Current
Current
39
40
The amount is expected
to be adjusted within 12
months
The amount is to be
adjusted within the
NOC
Right to defer the
payment of the same
beyond 12 months
Yes/No Yes/No Yes/No
Current
If Yes
Non-Current
If No
41
Provision for employees benefits like
gratuity and leave encashment
Liability as ascertained
by Actuarial Valuation
Liability payable within
12 months will be Current
Other liability will be Non-Current
42
Provisions
Other Miscellaneous Liabilities
Other Misc.
Liabilities &
Provisions
Provisions
Income Tax
Dividend
distribution
tax
Others
Outstanding
expenses
Contribution
to Provident
Fund
Unpaid
expenses
Expected to be
settled within 12
months after the
reporting date
Otherwise
Non-Current
Current
Liability
43

44

The disclosure requirements
specified in Part I of Schedule VI
are in addition to and not in
substitution of the disclosure
requirements specified in the
Accounting Standards prescribed
under the Companies Act, 1956.

45
Particulars Revised Schedule VI Old Schedule VI
Format Vertical only Horizontal or Vertical
(optional)
Heads Equity and Liabilities
Assets
Sources of Funds
Application of Funds
Additional Disclosures Notes to Accounts or additional
statement( Schedules eliminated)
Schedules
Part III and IV (business abstract
and companys profile)
Dispensed with Prescribed
Quantitative Details Not Required Required
Round off
Less than 100 crores of turnover
Upto millions Upto thousands
>=100 crores <500 crores of
turnover

Upto crores
Upto millions
>=500 crores of turnover
Upto crores
46
Disclosures for Balance Sheet Items

47
Opening number of
shares outstanding

Shares
issued

Shares bought
back

Other movements
during the year

Closing number of
shares outstanding

Rights, Preferences and
Restrictions attaching to each
class of shares.
Shareholders holding
more than 5 % shares
specifying the number
of shares held .
Share
Capital
Reserve and
Surplus
Revaluation amount to be disclosed as
Revaluation Reserve
Additions and Deductions since the last Balance
Sheet
Debit balance of Statement of Profit and Loss to be
shown as a negative figure under the head
Surplus, aggregate amount of balance of Reserve
and Surplus to be shown after adjusting negative
balance of surplus.
Earlier such
negative balance of
Profit and Loss A/c
was shown below
the Miscellaneous
Expenditure
(Assets).
48
Appropriation requirement
shifted from Profit and Loss
A/c.

Particulars

Revised Schedule VI

Old Schedule VI
Definition Amount due on account of
goods purchased or services
received in normal course of
business operation. (Term
Trade Payable used in place
of Sundry Creditors)
Amounts due in respect if goods
purchased or services received or
in respect of other contractual
obligations as well.
49
Other Non Current Liabilities
Trade Payables
Disclosure in Notes

Requirement of disclosure of Delayed Payments to Micro and Small
Enterprises
50
Contractual
Obligations
Excluded - amounts due under
contractual obligation can no
longer be included within Trade
Payables. Such payables should be
classified as "others" and each such
item should be disclosed nature-
wise.
Included amount due in
respect of all contractual
obligations to be included
under Sundry Creditors.
Example Payable
against Purchase of
Machinery and its
renovation contract.
Will be shown under Other Non
Current Liabilities(If payable after 12
months from the reporting date or
Operating cycle).
Will be shown under the
head Sundry Creditors.
51
Long Term
Other Current (Non Current)
To be disclosed
under this head
Employee Benefits
Others (Specify Nature)
Example: Provisions
for Warranties
Long Term Provisions

Short Term
Provisions
Provision for Employee Benefits
Others (Provision for Dividend,
Provision for Taxation etc.)
Reconciliation of assets at the
beginning and end of the
reporting period showing
additions, disposals,
acquisitions through business
combinations and other
adjustments and the related
depreciation and impairment
losses/reversals shall be
disclosed separately.

Amounts written-off on a reduction of
capital or revaluation of assets or
sums added on revaluation of assets,
every Balance Sheet subsequent to
date of write-off or addition shall
show the effect of same(Disclosure by
way of a note for the first five years
subsequent to the date of such
reduction or increase),.

52
Assets
Non Current
Assets
Tangible
Assets
Intangible
Assets
Introduced
under the Revised Schedule V1,
Capital Work-in-
Progress
Capital advances
should be included
under long-term
loans & advances
Intangible Assets
under Development
should be disclosed
under separate
head provided they
can be recognised
based on the
criteria laid down
in AS 26
Intangible Asset
53
54
Non Current Investments
Trade Investments
Other Investments
Following shall also be disclosed:
(a) Aggregate amount of quoted investments and market value
thereof
(b) Aggregate amount of unquoted investments
(c) Aggregate provision for diminution in value of investments
Aggregate Provision for diminution in value
Aggregate amount of provision made for all noncurrent investments
should also be separately disclosed.
Long-Term Loans & Advances
Capital Advances
Security Deposits
Loans and advances to
related parties (giving
details thereof)
Other loans and
advances
(specify nature)

The above shall also be separately sub-classified as

Secured, considered good;
Unsecured, considered good;
Doubtful
55
Other Non-Current Assets
Long Term Trade Receivables (including
trade receivables on deferred credit terms)
Others (specify nature)

The above shall also be separately sub-classified as:

Secured, considered good;
Unsecured, considered good;
Doubtful
56
57
Trade Receivable

Particulars

Revised Schedule VI

Old Schedule VI
Definition A receivable shall be classified as
'trade receivable' if it is in respect of
the amount due on account of goods
sold or services rendered in the normal
course of business.
Sundry Debtors' included amounts due in
respect of goods sold or services rendered
or in respect of other contractual
obligations as well.
Contractual
Obligations
Excluded - amounts due under
contractual obligation can no longer be
included within Trade Receivables.
Such items may include dues in
respect of insurance claims, sale of
fixed assets, contractually
reimbursable expenses, interest
accrued on trade receivables, etc. Such
receivables should be classified as
"others" and each such item should be
disclosed nature-wise.
Included amount due in respect of all
contractual obligations to be included
under Sundry Debtors.
Due date of payment Expected date of realization
calculated from past trend.
Billing date
Disclosure Outstanding for a period
exceeding 6 months from the
date the invoice / bill is due for
payment.

** where no due date is
specifically agreed upon,
normal credit period allowed
by the company should be
taken into consideration for
computing the due date which
may vary depending upon the
nature of goods or services sold
and type of customers.
Outstanding for a period
exceeding 6 months based on
the date on which invoice / bill
was raised.

58
Example Sale of
Fixed Assets /
Contractually
reimbursable
expenses / insurance
claims.
Such receivables will be classified
as others and each such item
should be disclosed nature-wise.
Will be shown under the head Sundry
Debtors
Example:
Billing Date 01st July, 2011
In normal course of business, receivables are realized within 3 months from the billing date.

Disclosure Comparison of Schedule VI:
Due Date 01st October, 2011 01st July, 2011
Disclosure to be made for: Outstanding as on and after
01st April, 2012
Outstanding as on and after
01st Jan, 2012

In normal course of business the receivables became due for payment on 01st October, 2011 (3
months). Thus outstanding for a period exceeding 6 months will be calculated from that date as
per Revised Schedule V1.
59
Current
Assets
Current
Investments
Subsidiaries
Associates
Joint
Ventures
Trade
Receivables
(current)
Secured,
considered good,
Unsecured,
considered good,
Doubtful
Inventories
Goods in transit
Finished Goods other
than those acquired for
trading purposes
Mode of
valuation
Stock-in-trade should include
goods acquired for trading
60
Contingent Liabilities and Capital
Commitments
Disclosure of Contingent Liabilities and Commitments (to the extent not provided for)
Commitments
Estimated amount of contracts
remaining to be executed on
Capital account and not provided
for
Uncalled Liability on shares
and other investments which
are partly paid
Other Commitments
(Specify nature)
61
Commitment
(unrecognized contractual commitments))
Capital Commitments Other Commitments
Future liability for capital expenditure
in respect of which contracts have been
made - future liability for contractual
expenditure
Expenditure related contractual
commitments apart from capital
commitments like long term contract
for purchase of Raw Materials,
Employee Contract, purchase of
inventory, services, Lease commitments
etc.
62
Particulars Revised Schedule V1 Old Schedule V1
Foot Note Item Amount of dividend 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.

Arrear of fixed cumulative
dividends.

The disclosures required to be made for other commitments should include non cancellable
contractual commitments based on professional judgments of management which are material
in understanding the financial statements.
63

STATEMENT OF PROFIT AND LOSS

PART II REVISED SCHEDULE VI

COMPANIES ACT,1956
64
KEY HIGHLIGHTS
Format prescribed: Vertical

Elimination of the concept of schedules,
information to be provided in the notes to
accounts.

Classification of expenses is based on their
nature and not on their function.

Quantitative disclosure is dispensed with.

65
Particulars Note
No.
Figures for the current
reporting period
Figures for the
previous reporting
period
I. Revenue from operations xxx xxx
II. Other Income xxx xxx
III. Total Revenue (I+II) xxx xxx
PART II - FORM OF STATEMENT OF PROFIT AND LOSS

Name of the Company.
Profit and loss statement for the year ended.
(Rupees in.)
66
IV. Expenses:
Cost of materials consumed
Purchases of Stock-in-Trade
Changes in inventories of finished
goods work-in-progress and Stock-in-
trade
Employee benefits expense
Finance costs
Depreciation and amortization
expense
Other expenses

xxx
xxx
xxx

xxx
xxx
xxx
Total expenses xxx xxx
V. Profit before exceptional and
extraordinary items and tax (III-IV)
xxx xxx
VI. Exceptional items xxx xxx
VII. Profit before extraordinary items and
tax (V-VI)
xxx xxx
VIII. Extraordinary items xxx xxx
IX. Profit before tax (VII-VIII) xxx xxx
67
X Tax expense:
(1) Current tax
(2) Deferred tax

xxx
xxx

xxx
xxx

XI Profit (Loss) for the period
from Continuing operations
(VII-VIII)
xxx xxx
XII Profit/(loss) from
discontinuing operations
xxx xxx
XIII Tax expense of discontinuing
operations
xxx xxx
XIV Profit/(loss) from
Discontinuing operations
(after tax) (XII-XIII)
xxx xxx
XV Profit(Loss) for the period
(XI+XIV)
xxx xxx
XVI Earnings per equity share:
(1)Basic
(2)Diluted

xxx
xxx

xxx
xxx
68
INCOME:
Revenue from
operations
Sale from
products
Sale from
services
Other operating
revenues
Less: Excise
duty
Other income
Interest income
Dividend
income
Gain on sale of
investments
Other non
operating income
net of expenses
69
From
subsidiary
From
others
EXPENSES
Cost of raw material consumed
Purchase of stock in trade
Employee benefit expense
Finance cost
Depreciation and amortization expense
Other expenses
70
Deciding broad heads requires judgment and will involve an
element of subjectivity.
Significant Changes:Seperate disclosure on
face of P&L
Exceptional and Extraordinary items:

71
I Profit before exceptional and
extraordinary items and tax

II Exceptional items

III Profit before extraordinary items
and tax ( I-II)

IV Extraordinary items

V Profit before tax ( III-IV)

xxx

xxx

xxx

xxx

xxx

Extraordinary Items
Not ordinary
activities
Infrequent in
nature
Example:
Losses from
natural
disasters.
Exceptional Items
Although
Ordinary
activities
Infrequent in
nature
Example:
Legislative
changes having
retrospective
applications.
72
DISCONTINUING OPERATIONS:
Format will be:

AS-24 provides the guidance on this part.
73
Profit/(loss) from

Tax expense of

Profit/(loss) from
discontinuing
operations(after tax)

xxx

xxx

xxx
DISCLOSURES IN NOTES TO
ACCOUNTS
Employee
benefits
expenses
Salaries and
wages
Contribution to
provident and
other funds
Staff welfare
expenses
74
1.
2.OTHER EXPENSES:

75
Consumption of stores and spare parts
Power and fuel
Rent
Repairs to buildings
Repairs to machinery
Insurance
Rates and taxes, excluding taxes on income
Miscellaneous expenses
Payment to auditors to be classified as:
a) For taxation matters
b) For company law matters
c) For other services

3. Details of items of exceptional and
extraordinary nature.

4. Prior period items

5. Income or Expense which exceeds 1% of the
revenue from operations or ` 1
lacs,whichever is higher.
76
Finance cost
Interest
expenses
Other
borrowing
costs
77
Borrowing costs has not been defined in revised schedule VI,
reference is to taken from AS-16 Borrowing cost.
6.
Other
Disclosure in
notes
Reserves
Subsidiary
companies
Dividends
Provision for
losses
Provisions
Dividend
proposed
78
7.
REQUIREMENT OF DISLOSURE OF STOCK:
RAW MATERIALS:

PARTICULARS CONSUMPTION
RAW MATERIALS XX
(YY)
TOTAL XX
(YY)
79
(Amount in `)
PARTICULARS PURCHASES
TRADED ITEM XX
(YY)
TOTAL XX
(YY)
(Amount in `)
GOODS PURCHASED :
MANUFACTURED GOODS :
PARTICULARS SALES VALUES CLOSING
INVENTORY
OPENING
INVENTORY
FINISHED GOODS
A
XX
(YY)
XX XX
TOTAL XX
(YY)
XX XX
80
(Amount in `)
PARTICULARS WIP
GOODS WIP XX
(YY)
TOTAL XX
(YY)
WIP GOODS :
(Amount in `)
*Figures in brackets are previous year figures.
Suggested Broad Heads for RSMM Ltd.
Cost of raw materials consumed
Purchases of stock in trade
Employee benefit expenses
Depreciation and amortization expenses
Selling expenses
Statutory expenses
Payment to contractors
Other expenses
81
Employee
benefit expenses
Salaries and
wages
Contribution
to provident
and other
funds
Employees
welfare
Leave
encashment
Selling expenses
Cash discounts
Packaging
expenses
Advertisement
expenses
Business
promotion
expenses
Payment to
contractors
For removal of
overburden
For raising,
transportation
and others
Freight charges
82
DISCLOSURE BY WAY OF NOTES TO ACCOUNTS:
Statutory
expenses
Land tax
MR Cess
Other
expenses
Consumption
of stores and
spares
Repairs to
plant
Payment to
auditors
Afforestation
plantation and
environment
83
As auditor
Other
services
The items in the notes to accounts will be further bifurcated into:
a) Mining and other operating expenses
b) Establishment and financial expenses.
84

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P.C.

Modi & Company CA Bharat Sonkhiya 20/01/2012

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