Application Guidance for Accounting Standards in India

How to use the model?

Getting Started

Trial Balance

Balance Sheet

Profit and Loss Account

Schedules to Balance Sheet

Schedules to Profit and Loss Account

Cash Flow Statement

Notes to Accounts

Balance Sheet Abstract

Groupings to Profit and Loss Account

Groupings to Balance Sheet

This is a tool for the preparation and presentation of financial

statements of small and medium enterprises. It has been

prepared keeping in view the requirements of Schedule VI of the

Companies Act, 1956 and the Accounting Standards prescribed

by ICAI. It assists in the preparation of financial statements and

includes most of the disclosures applicable to small to medium

Disclaimer: This model is only a guide. The objective is to ensure that allthe prescriptions and disclosures required by Schedule VI and the Accounting Standards are made available. The Trial balance may require

Application Guidance for Accounting Standards in India

How to use the model?

To begin, all you need is a list of all account balances (trial balance) as at the beginning of the period,and the totals of the debit and credit transactions during the year/period for each account. To go ahead, follow the steps below:

Step 1: Enter the general information of your company in the "General Info" sheet. Click on the OK button.

Step 2: A model trial balance is given in sheet "TB". This contains the list of the most commonly used account names/heads.Update the account balances of your Trial balance into the model trial balance. To do this, you can either key-in the balancesmanually against the relevant account head, or if your trial balance is in the excel format, it can be linked by giving the appropriate cell reference in the cells(See note 3). The following information is relevant for the model trial balance:

1. Opening Balances: The opening balances for all items of assets and liabilities. For your ease, the items of Profit and Loss Accountand other irrelevant cells have been shaded in grey colour and no data need to be entered there.

2. Transactions : The total of debit transactions and credit transactions in a particular account during the year/period. This is with reference to items of assets,liablities, income and expenses.

The account names used in the trial balance are generalised. You can modify the account description by over writing on the genericnames. For example, in the model trial balance, an account head appears as " Secured Term Loans from Bank 1". You can overwrite this with an account name more meaningful to you say,"Term Loan- ICICI bank- 10 Lakhs". For certain items which appearboth in the balance sheet and Profit and Loss Account, the account name follows with the words "B/S Item" or "P&L Item" to clarifytheir nature of their balance.

To locate the account names easily, you can use the Ctrl+ F option. Just type the keyword and browse through the matching account names.If you cannot find an account name you are looking for, you can insert additional account in the following manner.A new account can be inserted only in specific areas in the trial balance,i.e.,before the rows shaded with blue (See note 2).When you place the cell pointer in the first column of the blue cells, a comment appears which indicates the type of account that can be inserted in that place. Go to the blue cell which indicates the account type you want to insert. Then just type the account descriptionin the blue cell, and fill in the balances.

Any number of rows can be inserted before the blue shaded rows to insert additional accounts of the type indicated there. In that case,care should be taken to copy the closing balance formula from the previous row.

If your trial balance has not been adjusted for closing entries like those for closing stock, appropriations,certain provisions, etc. they can be directly manually entered in the model trial balance. For accounts of this nature, the model trial balance has two account names - one in the nature of Profit and Loss Account Item and other in the nature of a Balance Sheet Item. To pass the entry manually, give the relevant opposite effect in the two types of accounts. For example, to pass the entry for "Appropriation to General Reserve", debit the item called "General Reserve (P&L Item)" and credit the item called "General Reserve (B/S Item)" in the transaction columns.Similarly to create a provision, debit the relevant item of Profit and Loss Account and credit the Balance Sheet item.For example, tocreate provision for salaries, debit "Salaries to staff"account and credit "Provision for salaries" account. The opposite effect to be givenfor reversal of provisions. For transfer of amount from one reserve to another, the debit and credit effect has to be given in the B/S items of the respective reserves.

Password to unprotect the sheets : accRecommended : Take a print out of this page before proceeding.

If you want to enter the trial balance afresh, click on the RESET button.Once you are done, Click on the DONE button.

Step 3:to be updated in the Groupings to Profit and Loss Account/ Groupings to Balance Sheet, as the case may be. To do this, follow the steps below:

a. Go to either "Groupings to Profit and Loss Account" (GR PL) or "Groupings to Balance Sheet"(GR BS) sheet which ever is relevant for the account newly created in the trial balance, that is, if the new account is in the nature of asset/liability, go to the Balance Sheet Grouping, or if it is in the nature of income/expense, go to the Profit and Loss Account grouping.

b. Locate the grouping under which the newly created account falls. This can be done by searching the keyword using the Ctrl+F option.

c. Each grouping to the Profit and Loss Account/Balance Sheet contains a row shaded in blue Once you have located the grouping, update the new account description and the opening/closing balance in the blue shaded row. d. One blue row is provided in each grouping to update the extra accounts. In case more than one account is to updated, they have to be updated by inserting additional rows before the blue rows(See note 2)

The rows shaded in red color contain the totals of the groupings. They are not to be modified or altered.

Step 4: Go to the "Groupings to Profit and Loss" Sheet. Update the figures of all income and expenses relating to the last financial year.in the cells shaded in green color.

Step 5: These are to be overwritten to describe the necessary For example, the number of equity shares, face value, etc.

In case the newly added account in the Trial balance is such that would require descriptional disclosure in the Schedule to Balance sheet, it can be done by inserting additional rows in the appropriate place (See note 2).

The Schedules also contains boxes shaded in blue These boxes are to be mandatorily filled up manually, unless they irrelevant.

The cells shaded in green have to be filled up with the corresponding previous year figures.

Step 6: In the "Profit and Loss Account" (P&L)sheet, and cells have to be updated with current and last year figuresrespectively.

Step 7: Go to the "Cash flow statement"(CF) sheet. Fill in the green and blue shaded cells which previous year and current year figures, as applicable. In case new accounts which involve cash inflow/outflow are inserted in the trial balance then it has to be ensured that the relevant links in the cash flow statement are modified accordingly (See note 2).If discontinuing operations are applicable, update the figures in the second table.

Certain kinds of transactions, which are routed through reserves and share premium account, like issue of bonus shares, payment of dividend from general reserve, grants received etc., may require suitable modifications to be done in the cash flow statement.

Step 8: The general format of notes to accounts including Significant Accounting Policies are given. These can be altered to suit your needs

needs to be modified. A small word document opens. Make necessary changes, and once you are through, click anywhere in the

In case you have inserted an additional row (not merely typing in the blue row) for a new account in the trial balance, the same has

Go to the "Schedule" (Sch) sheet. It contains letters written in blue xxx

based on the facts and circumstances. To modify, first unprotect the sheet (See note 2). Then just

excel sheet area to view the changed text.

Step 9: In The "Balance Sheet Abstract and General Business Profile" key-in the details like state code of the company, dividend rate and product description.

Step 10:your requirements. If colour option is not required, print can even be taken in black and white.

Note 1: Schedule VI of the Companies Act provides for rounding off rules. They are as under:

Where the turnover of the company in any financial year is Round off Permissible:(i) Less than one hundred crore rupees to the nearest hundreds or thousands, or

decimals thereof.

(ii) One hundred crore rupees or more but less than five to the nearest hundreds, thousands, hundred crore rupees lakhs or millions, or decimals thereof.

(iii) five hundred crore rupees or more to the nearest hundreds, thousands,lakhs,millions,or crores or decimals thereof.

Accordingly, while entering the figures in the trial balance, care should be taken to adhere to the above rules.Note 2: Before making changes like inserting additional rows, or modifying the notes to accounts, the sheet has to be unprotected. To unprotect

the sheet, click on Tools Protection Unprotect. A current password is 'acc'. It can be modified to your choice.

Note 3: The trial balance of a typical accounting software,for example,Tally, will list the accounts in the following order:Balance Sheet credit items,Balance Sheet Debit balances, Profit and Loss Account credit items, Profit and Loss Account debit side items. However, in the trial balance of this model, the accounts have been arranged in the alphabetical order. For quick updation of account balances (either manually or by linking) in the model trial balance, follow the steps below:

a. Import the Accounting Software Trial Balance into a different excel file. A small trial balance containing 4 items may look like as below:

Account name Opening Transactions Closing Dr Cr. Dr. Cr. Dr.

Share Capital 500Plant and Machinery 250 250Dividend Income 600General Expenses 400

b. Select the imported data, as shown below:

Account name Opening Transactions Closing Dr Cr. Dr. Cr. Dr.

Share Capital 500Plant and Machinery 250 250Dividend Income 600General Expenses 400

Before taking a print out of the statements, check the page alignment. You can hide (not delete)

c. Then click on Data Sort. The sort dialog box appears. In the Sort by drop down box, select the column name in which the account names of the imported Trial balance appear. In the above example, the account names appear in Column D. Select the sorting option as ascending and select " No Header Row". The trial balance will now appear in the ascending order, like this:

Account name Opening Transactions Closing Dr Cr. Dr. Cr. Dr.

Dividend Income 600General Expenses 500Plant and Machinery 250 250Share Capital 500

d. Now your Trial balance is alphabetically sorted, and updation / linking to the model trial balance can be done easily.

Note 4: Small text messages called "Help Notes" will guide you through the data entry process at the relevant areas.

Note 5: To get a better view of any of the subsequent sheets, freeze or unfreeze the panes according to your convenience. To do so, select the row where you want to freeze or unfreeze and select Window Freeze/Unfreeze panes.

To begin, all you need is a list of all account balances (trial balance) as at the beginning of the period,and the totals of the debit and credit transactions

Enter the general information of your company in the "General Info" sheet. Click on the OK button.

A model trial balance is given in sheet "TB". This contains the list of the most commonly used account names/heads.Update the account balances of your Trial balance into the model trial balance. To do this, you can either key-in the balancesmanually against the relevant account head, or if your trial balance is in the excel format, it can be linked by giving the appropriate cell reference in the cells(See note 3). The following information is relevant for the model trial balance:

1. Opening Balances: The opening balances for all items of assets and liabilities. For your ease, the items of Profit and Loss Accountand other irrelevant cells have been shaded in grey colour and no data need to be entered there.

2. Transactions : The total of debit transactions and credit transactions in a particular account during the year/period. This is with reference to items of assets,liablities, income and expenses.

The account names used in the trial balance are generalised. You can modify the account description by over writing on the genericnames. For example, in the model trial balance, an account head appears as " Secured Term Loans from Bank 1". You can overwrite this with an account name more meaningful to you say,"Term Loan- ICICI bank- 10 Lakhs". For certain items which appearboth in the balance sheet and Profit and Loss Account, the account name follows with the words "B/S Item" or "P&L Item" to clarify

To locate the account names easily, you can use the Ctrl+ F option. Just type the keyword and browse through the matching

If you cannot find an account name you are looking for, you can insert additional account in the following manner.A new account can be inserted only in specific areas in the trial balance,i.e.,before the rows shaded with blue (See note 2).When you place the cell pointer in the first column of the blue cells, a comment appears which indicates the type of account that can be inserted in that place. Go to the blue cell which indicates the account type you want to insert. Then just type the account description

Any number of rows can be inserted before the blue shaded rows to insert additional accounts of the type indicated there. In that case,

If your trial balance has not been adjusted for closing entries like those for closing stock, appropriations,certain provisions, etc. they can be directly manually entered in the model trial balance. For accounts of this nature, the model trial balance has two account names - one in the nature of Profit and Loss Account Item and other in the nature of a Balance Sheet Item. To pass the entry manually, give the relevant opposite effect in the two types of accounts. For example, to pass the entry for "Appropriation to General Reserve", debit the item called "General Reserve (P&L Item)" and credit the item called "General Reserve (B/S Item)" in the transaction columns.Similarly to create a provision, debit the relevant item of Profit and Loss Account and credit the Balance Sheet item.For example, tocreate provision for salaries, debit "Salaries to staff"account and credit "Provision for salaries" account. The opposite effect to be given

For transfer of amount from one reserve to another, the debit and credit effect has to be given in the B/S items of the respective reserves.

Take a print out of this page before proceeding.

to be updated in the Groupings to Profit and Loss Account/ Groupings to Balance Sheet, as the case may be. To do this, follow the

a. Go to either "Groupings to Profit and Loss Account" (GR PL) or "Groupings to Balance Sheet"(GR BS) sheet which ever is relevant for the account newly created in the trial balance, that is, if the new account is in the nature of asset/liability, go to the Balance Sheet Grouping, or if it is in the nature of income/expense, go to the Profit and Loss Account grouping.

b. Locate the grouping under which the newly created account falls. This can be done by searching the keyword using the Ctrl+F

c. Each grouping to the Profit and Loss Account/Balance Sheet contains a row shaded in blue Once you have located the grouping, update the new account description and the opening/closing balance in the blue shaded row.

d. One blue row is provided in each grouping to update the extra accounts. In case more than one account is to updated, they have

The rows shaded in red color contain the totals of the groupings. They are not to be modified or altered.

Go to the "Groupings to Profit and Loss" Sheet. Update the figures of all income and expenses relating to the last financial year.

These are to be overwritten to describe the necessary

In case the newly added account in the Trial balance is such that would require descriptional disclosure in the Schedule to Balance

The Schedules also contains boxes shaded in blue These boxes are to be mandatorily filled up manually, unless they

green have to be filled up with the corresponding previous year figures.

In the "Profit and Loss Account" (P&L)sheet, and cells have to be updated with current and last year figures

Go to the "Cash flow statement"(CF) sheet. Fill in the green and blue shaded cells which previous year and current year figures, as applicable. In case new accounts which involve cash inflow/outflow are inserted in the trial balance then it has to be ensured that

Certain kinds of transactions, which are routed through reserves and share premium account, like issue of bonus shares, payment of dividend from general reserve, grants received etc., may require suitable modifications to be done in the cash flow statement.

The general format of notes to accounts including Significant Accounting Policies are given. These can be altered to suit your needs

needs to be modified. A small word document opens. Make necessary changes, and once you are through, click anywhere in the

(not merely typing in the blue row) for a new account in the trial balance, the same has

based on the facts and circumstances. To modify, first unprotect the sheet (See note 2). Then just double click on the area which

In The "Balance Sheet Abstract and General Business Profile" key-in the details like state code of the company, dividend rate and

your requirements. If colour option is not required, print can even be taken in black and white.

Round off Permissible:to the nearest hundreds or thousands, or

to the nearest hundreds, thousands, lakhs or millions, or decimals thereof.

to the nearest hundreds, thousands,lakhs,millions,or crores or decimals thereof.

Accordingly, while entering the figures in the trial balance, care should be taken to adhere to the above rules.Before making changes like inserting additional rows, or modifying the notes to accounts, the sheet has to be unprotected. To unprotectthe sheet, click on Tools Protection Unprotect. A current password is 'acc'. It can be modified to your choice.

The trial balance of a typical accounting software,for example,Tally, will list the accounts in the following order:Balance Sheet credit items,Balance Sheet Debit balances, Profit and Loss Account credit items, Profit and Loss Account debit side items. However, in the trial balance of this model, the accounts have been arranged in the alphabetical order. For quick updation of account balances (either manually

A small trial balance containing 4 items may look like as below:

Closing Cr.

500

Closing Cr.

500

Before taking a print out of the statements, check the page alignment. You can hide (not delete) the rows which are irrelevant to

c. Then click on Data Sort. The sort dialog box appears. In the Sort by drop down box, select the column name in which the account names of the imported Trial balance appear. In the above example, the account names appear in Column D. Select the sorting option as ascending and select " No Header Row". The trial balance will now appear in the ascending order, like this:

Closing Cr.

500

d. Now your Trial balance is alphabetically sorted, and updation / linking to the model trial balance can be done easily.

Small text messages called "Help Notes" will guide you through the data entry process at the relevant areas.

To get a better view of any of the subsequent sheets, freeze or unfreeze the panes according to your convenience. To do so, select the row where you want to freeze or unfreeze and select Window Freeze/Unfreeze panes.

Application Guidance for Accounting Standards in India

General Company Information

Name of the company : Gulf Builders & Contractors L.L.C.

Address :

Place :

Board Of Directors

1. Managing Director :

2. Executive Director :

3 Non Executive Director :

Name and Address :of Auditors

Date of financial statements :

Date of last financial :statements

Application Guidance for Accounting Standards in India

Gulf Builders & Contractors L.L.C.

TRIAL BALANCE AS ON 30-Dec-99

Balance as on 30-12-1899 Transactions Balance as on 30-12-1899 Dr Cr Dr Cr Dr Cr

(Rs. in …….) (Rs. in ……) (Rs. in …….) (Rs. in ……) (Rs. in …….) (Rs. in ……)

Accumulated amortisation on Goodwill 500 200 - 700 Accumulated amortisation on Other leased assets 150 - 150 Accumulated amortisation on Patents and Trademarks - - Accumulated amortisation on Software - - Accumulated amortisation on Technical knowhow - - Accumulated amortisation on Leasehold building - -

- - Accumulated amortisation on Leasehold land 100 50 - 150 Advance FBT AY xxxx 5,000 5,000 -

- - Advance FBT AY xxxx 2,000 2,000 - Advance Income Tax AY xxxx 1,500 1,500 -

- - Advance Income Tax AY xxxx 750 750 - Advance received from customer 1 2,000 1,000 - 1,000

- - Advance received from customer 2 2,500 5,680 - 3,180 Advance given towards travelling expenses 3,000 1,500 1,500 - Advance given towards commission 2,000 900 - 1,100

- - Advance towards expenses-others 1,000 2,600 - 1,600 Advances given to firm1 5,000 200 2,000 3,200 -

- - Advances given to firm2 2,000 5,000 1,000 2,000 - Advances given to firms written off 1,000 1,000 - Advances given to subsidiary1 2,600 3,000 2,600 3,000 -

- - Advances given to subsidiary 2 - - Advances given to subsidiaries written off 400 400 - Advances to suppliers- party 1 5,000 5,000 2,000 8,000 -

- - Advances to suppliers- party 2 - - Adverstisement 9,000 200 8,800 - Amalgamation Adjustment Account - - Amortisation on Goodwill 200 200 - Amortisation on Other leased assets 150 150 - Amortisation on Patents and Trademarks - - Amortisation on Software - - Amortisation on Technical knowhow - - Amortisation on Leasehold building - -

- - Amortisation on Leasehold land 50 50 - Architect fees 680 680 - Audit Fees Payable 1,200 - 1,200 Bad Debts 950 950 - Balance of profit and loss a/c of amalgamating company 800 - 800 Balance with customs, port trust,etc 2,500 2,500 - - Bank- Current Account with scheduled bank 1 4,000 - 4,000

- - Bank- Current Account with scheduled bank 2 800 2,500 - 1,700 Bank- Non scheduled bank XXX - call account 1 500 1,000 - 500

- - Bank- Non scheduled bank XXX - call account 2 2,000 1,000 1,000 - Bank- Non scheduled bank XXX - current a/c 1 900 900 - -

- - Bank- Non scheduled bank XXX - current a/c 2 9,000 40,000 350 48,650 - Bank- Non scheduled bank XXX - deposit 1 3,000 1,000 - 4,000

- - Bank- Non scheduled bank XXX - deposit 2 5,200 2,750 2,450 - Bank- Non scheduled bank YYY - call account 1 800 2,600 2,000 1,400 -

- - Bank- Non scheduled bank YYY - call account 2 2,200 300 1,900 - Bank- Non scheduled bank YYY - current a/c 1 12,010 600 11,410 -

- - Bank- Non scheduled bank YYY - current a/c 2 300 160 140 - Bank- Non scheduled bank YYY - deposit 1 3,000 1,000 2,000 -

- - Bank- Non scheduled bank YYY - deposit 2 5,200 5,000 200 - Bank-Call account with scheduled bank 1 75,000 19,000 56,000 -

- - Bank-Call account with scheduled bank 2 200 275 - 75 Bank-Deposit account with scheduled bank 1 5,000 600 6,000 - 400

- - Bank-Deposit account with scheduled bank 2 500 2,000 - 1,500

- - Banking Cash Transaction Tax 75 1,300 - 1,225 Bank-Margin money account with scheduled bank 1 600 - 600

- - Bank-Margin money account with scheduled bank 2 - -

Bills receivable - inland 2500 1500 3,000 1,000 - - -

Bills receivable - foreign 1500 3000 200 1,300 - Bonus payable 6,000 2,000 - 8,000

- - Bonus to staff 3,000 3,000 - Bonus to workers 500 500 - Calls in arrears 500 500 - - Canteen Expenses 160 160 - Canteen income 300 - 300 Capital redemption reserve(B/S Item) 5,000 1,000 - 4,000 Capital redemption reserve(P/L Item) 1,000 - 1,000 Capital reserve(B/S Item) 2,000 1,000 - 1,000 Capital reserve(P/L Item) 1,000 - 1,000 Capital Work in progress - Intangible Assets 5,000 2,000 6,000 1,000 - Capital Work in progress - Tangible Assets - - Carriage outwards 830 200 630 - Cash credit from bank 1 500 250 6,000 - 6,250

- - Cash credit from bank 2 55,000 1,000 9,000 - 63,000 Cash in hand(including remittance in transit) 9,600 9,900 - 300 Cenvat receivable 8,000 1,000 14,000 - 21,000 Closing Stock - Raw material (B/S Item) 5,000 5,000 - Closing Stock - Stores and spares (B/S Item) 4,000 4,000 - Closing Stock- Byproducts (B/S Item) 300 300 - Closing Stock- Finished goods(B/S Item) 6,500 6,500 - Closing Stock- Waste and scrap (B/S Item) 200 200 - Closing Stock- WIP (B/S Item) 100 100 - Closing Stock - Raw material (P&L Item) 5,000 - 5,000 Closing Stock - Stores and spares (P&L Item) 4,000 - 4,000 Closing Stock- Byproducts (P&L Item) 300 - 300 Closing Stock- Finished goods (P&L Item) 6,500 - 6,500 Closing Stock- Waste and scrap (P&L Item) 200 - 200 Closing Stock- WIP (P&L Item) 100 - 100 Commission income - Job 1 5,200 - 5,200

- - Commission income - Job 2 1,000 - 1,000 Computer stationery expenses 500 500 - Computer - 1 50,000 6,000 50,000 6,000 -

- - Computer - 2 8,000 2,000 6,000 - Consultancy Charges Payable 900 - 900 Contibution to ESI - employer 8,500 8,500 - Conveyance charges - local 2,150 2,150 - Corporate dividend tax- final dividend(B/S Item) 600 - 600 Corporate dividend tax- final dividend(P/L Item) 1,000 1,000 -

- - Corporate dividend tax- interim dividend(P/L Item) 200 200 -

Courier Charges 250 250 - CST Collection & Payment a/c 5,000 150 200 4,950 - Current Inv- quoted-Govt Securities- bond 1 2,000 2,000 4,000 - Current Inv- non trade-fully paid -quoted-bonds 3,000 200 2,800 - Current Inv- non trade-fully paid -quoted-equity 5,000 5,000 - Current Inv-non trade-fully paid -unquoted-bonds 8,000 8,000 - - Current Inv- non trade-fully paid -unquoted-equity 6,000 6,000 - - Current Inv- non trade-investment in units 3,500 1,500 5,000 - Current Inv- non trade-partly paid -quoted-bonds - - Current Inv- non trade-partly paid -quoted-equity - - Current Inv- non trade-partly paid -unquoted-bonds - - Current Inv- non trade-partly paid -unquoted-equity - - Current Inv- quoted-Govt Securities- bond 2 - - Current tax 8,000 8,000 - Current Inv- trade -investment in units - - Current Inv- trade-fully paid -quoted-bonds 500 500 - Current Inv- trade-fully paid -quoted-equity - - Current Inv- trade-fully paid -unquoted-bonds - - Current Inv- trade-fully paid -unquoted-equity - - Current Inv- trade-partly paid -quoted-bonds - - Current Inv- trade-partly paid -quoted-equity - - Current Inv- trade-partly paid -unquoted-bonds - - Current Inv- trade-partly paid -unquoted-equity - - Current Inv-National savings certificates - - Current Inv- Indira Vikas Patrika - - Current Inv- Kisan Vikas Patrika - - DD / TT Charges 50 50 - Debenture redemption reserve(B/S Item) 5,000 2,000 - 3,000 Debenture redemption reserve(P/L Item) 2,000 - 2,000 Deferred tax 5,000 9,000 - 4,000 Depreciation-Computer 250 250 - Depreciation- Development of Property 100 100 - Depreciation-Electrical equipments 50 50 - Depreciation-Freehold building - - Depreciation-Furniture 250 225 25 - Depreciation-Machinery - - Depreciation-Office Equipments 250 50 200 - Depreciation-Railway Sidings 200 100 100 - Depreciation-Vehicles - -

- - Designers fees 2,000 2,000 - Development of property - 1 8,000 6,000 14,000 -

- - Development of property - 2 - -

- - Diesel Expenses - Generator - - Diminution in value of investments 200 200 -

- - Directors' Commission 6,000 6,000 - Directors Commission Payable 5,000 - 5,000 Directors' Salary 9,000 9,000 -

- - Directors Salary Payable 6,000 - 6,000

- - Director's travel expenses 3,000 3,000 - Disputed tax appeal account 300 300 - Dividend from subsidiary 1 200 - 200

- - Dividend from subsidiary 2 300 - 300 Dividend from trade investment 1 - -

- - Dividend from trade investment 2 - - Dividend income from other investment 1 - -

- - Dividend income from other investment 2 - - Dividend receivable - - Donation - - DTA- Brought forward business loss and unabsorbed depreciation - - DTA- Expenditure allowable on actual payment - - DTA- Provision for diminution in the value of investments - - DTA- Provision for doubtful debts - - DTA- Provision for excise duty 9,000 9,000 - DTA- Provision for gratuity/pension - -

- - DTA- Provision for impairment losses - - DTL- Accelerated amortization of intangibles 2,000 - 2,000 DTL- Depreciation on fixed assets 1,000 - 1,000

- - DTL- Lease accounting 2,000 - 2,000 Electrical equipment - 1 6,000 6,000 -

- - Electrical equipment - 2 2,000 2,000 - Electricity charges - Factory 650 650 -

- - Electricity charges for office 200 200 - Electricity Charges Payable 250 - 250 Electricity deposit 800 800 - EMD 900 900 - Employer's contribution to PF - Labour 1,000 1,000 - Employer's contribution to PF - Staff - - Equity share capital - class 1 2,500 39,000 - 41,500

- - Equity share capital - class 2 - - Equity share issue/debenture issue expenses 100 100 - ESI Payable 400 - 400

- - Excise duty 9,000 9,000 - Excise Duty Payable 1,000 - 1,000 Export incentives and subsidy - - Extraordinary item - loss on account of earthquake - - Extraordinary item - gain - - Factory wages - - First Aid & Medical expenses - - Foreign bills payable - - Foreign currency translation reserve (B/S Item) 200 100 - 100 Foreign currency translation reserve (P&L Item) 100 - 100

- - Foreign exchange fluctuation - - Foreign Travel expenses 2,500 2,500 - Forfeited shares - - Freehold Building - 1 2,200 2,200 -

- - Freehold Building - 2 - - Freehold Land -1 - -

- - Freehold Land -2 - - Freight charges - - Freight charges payable - - Fringe benefit tax - - Furniture & fitting - 1 - -

- - Furniture & fitting - 2 - - Gardening - - General reserve (B/S item) 100 - 100 General reserve (P&L item) - - General stationery - -

God's account - - Goodwill - - Gratuity settlement to staff and labour - - Group Gratuity - - Group Insurance Premium - - Incentive to staff and labour - - Increase in value of investment 1,500 - 1,500 Indira Vikas Patrika 5,000 5,000 -

- - Inland bills payable - - Insurance - Building - - Insurance - Plant and Machinery - -

- - Insurance - Stock 1,500 1,500 - Insurance for cash 120 120 - Insurance receipts-building - -

- - Insurance receipts-plant and machinery - - Inter corporate loans - company 1(loans and advances) 800 1,500 - 700

- - Inter corporate loans - company 2 (loans and advances) 2,000 1,000 1,000 - Inter corporate loans written off 1,000 800 200 - Inter unit balances- Unit 1 100 100 -

- - Inter unit balances- Unit 2 100 - 100 Interest accrued and due on secured term loans from financial inst. 300 - 300 Interest accrued and due on secured debentures 900 - 900 Interest accrued and due on secured term loans from banks - - Interest accrued and due on overdrafts from banks - - Interest accrued and due on cash credit from banks - - Interest accrued and due on secured loans from subsidiaries - - Interest accured and due on unsecured fixed deposit - - Interest accrued and due on unsecured loans from subsidiaries - - Interest due on short term loans and advances from banks - - Interest due on short term loans and advances from others - - Interest due on other loans and advances from banks - - Interest due on other loans and advances from others - - Interest accrued on investments (asset item) 200 200 - Interest free sales tax loan 4,000 9,000 - 5,000 Interest from Fixed Deposit 1(income) 800 - 800

- - Interest from Fixed Deposit 2(income) - - Interest income from government security 1 - -

- - Interest income from government security 2 - - Interest income from other investment1 - -

- - Interest income from other investment2 - - Interest income on labour advance - -

- - Interest income on staff advance - - Interest on CC - Bank 1 - - Interest on CC - Bank 2 - -

- - Interest on CC- Bank 3 - - Interest on debentures- class 1 900 900 -

- - Interest on debentures- class 2 - - Interest on Fixed deposit 1 - -

- - Interest on Fixed deposit 2 - - Interest on IT refund - - Interest on late payment to creditors - -

Interest on O/D- Bank 1 - - - -

Interest on O/D- Bank 2 - - Interest on Term Loan - Bank 1 - -

- - Interest on Term Loan - Bank 2 - - Interest on term loan - financial institution 1 500 500 -

- - Interest on term loan - financial institution 2 - - Interest on term loan - secured- subsidiary 1 - -

- - Interest on term loan - secured- subsidiary 2 - - Interest on term loan - unsecured-subsidiary 1 - -

- - Interest on term loan - unsecured-subsidiary 2 - - Interest on Term Loan - Bank 3 - - Interest payable on matured deposits/debentures 3,000 2,000 - 1,000 Interim dividend 5,000 5,000 - Internal audit fee 800 800 - Internet Charges - - Investment allowance reserve (B/S Item) 2,000 1,000 - 1,000 Investment allowance reserve (P&L Item) 1,000 - 1,000 Investment in capital of partnership firms 10,000 1,000 11,000 - Investment in immovable properties 500 500 -

- - ISO Certification Fee 150 150 - Job work income-process 1 4,500 - 4,500

- - Job work income-process 2 250 - 250 Keyman Insurance premium 200 200 - Kisan Vikas Patrika 1,000 1,000 - Labour advance -Labour 1 5,000 2,000 1,000 6,000 -

- - Labour advance -Labour 2 - - Labour Trip hire charges 120 120 - LC Charges 240 240 - Lease rental from buildings 360 - 360

- - Lease rental from plant and machinery 120 - 120 Leasehold Building - 1 5,000 5,000 -

- - Leasehold Building - 2 - - Leasehold Land - 1 - -

- - Leasehold Land - 2 - - Leave salary 500 500 - Legal fees 1,000 1,000 -

- - Letter head printing charges 100 100 - Loading/unloading charges 150 150 - Loans from director 1 - -

- - Loans from director 2 - - Long term Inv- quoted-Govt Securities- bond 1 120 120 - Long term Inv - quoted-Govt Securities- bond 2 800 800 - Long term Inv- non trade-fully paid -quoted-bonds - - Long term Inv- non trade-fully paid -quoted-equity - - Long term Inv- non trade-fully paid -unquoted-bonds - - Long term Inv- non trade-fully paid -unquoted-equity - - Long term Inv- non trade-partly paid -quoted-bonds - - Long term Inv- non trade-partly paid -quoted-equity - - Long term Inv- non trade-partly paid -unquoted-bonds - - Long term Inv- non trade-partly paid -unquoted-equity - -

Long term Inv- trade-fully paid -quoted-bonds - - Long term Inv- trade-fully paid -quoted-equity - - Long term Inv- trade-fully paid -unquoted-bonds - - Long term Inv- trade-fully paid -unquoted-equity - - Long term Inv- trade-partly paid -quoted-bonds - - Long term Inv- trade-partly paid -quoted-equity - - Long term Inv- trade-partly paid -unquoted-bonds - - Long term Inv- trade-partly paid -unquoted-equity - - Loose tools 500 500 - LPG deposit - -

- - Mobile Phone Expenses - - National savings certificate - -

- - Octroi - - Office equipment - 1 - -

- - Office equipment - 2 - - Office Maintenance - - Opening Stock - Raw material (P&L Item) 2,000 2,000 - Opening Stock - Stores and spares (P&L Item) 6,000 6,000 - Opening Stock- Byproducts (P&L Item) 7,500 7,500 - Opening Stock- Finished goods (P&L Item) 1,500 1,500 - Opening Stock- Waste and scrap (P&L Item) 2,000 2,000 - Opening Stock- WIP (P&L Item) 600 600 - Other bank Charges - - Other leased assets - - Other loans from - party 1 100 10,000 - 9,900

- - Other loans from - party 2 - - Other manufacturing expenses-1 - -

- - Other manufacturing expenses-2 - - Other unsecured loans - bank 1 9,600 120 - 9,720

- - Other unsecured loans - bank 2 6,600 2,500 4,100 - Overdraft from Bank 1 5,000 6,100 - 11,100

- - Overdraft from Bank 2 6,500 - 6,500 Overtime Premium 500 500 - Packing expense 1 - -

- - Packing expense 2 - - Patents, Trademarks and Designs 2,000 2,000 - - Petrol and Diesel expenses 240 240 - Petrol Deposit 9,000 500 240 9,260 - Plant & Machinery - 1 - -

- - Plant & Machinery - 2 - - Pollution Renewal Fee - - Pooja expenses - - Preference dividend (B/S item) - - Preference dividend (P&L item) - - Preference share capital - class 1 17,500 5,000 - 22,500

- - Preference share capital - class 2 - - Preliminary expenses (B/S item) 6,000 3,000 3,000 - Preliminary expenses (P&L item) 3,000 3,000 - Prior Period items - - Processing expenses - process 1 - -

- - Processing expenses - process 2 - -

- -

Profit and loss account 19,600 - 19,600 Profit on sale of Business 1 100 - 100 Profit on sale of Business 2 600 - 600

- - Profit on sale of Business 3 - - Profit/(Loss) on sale of Electrical Machinery - - Profit/(Loss) on sale of Office Equipments 11,000 - 11,000

- - Profit/(Loss) on sale of Other assets 5,000 - 5,000 Profit/(Loss) on sale of Plant and Machinery - - Profit/(Loss) on sale of quoted investments -current 2,000 - 2,000 Profit/(Loss) on sale of quoted investments- long term 1,000 1,000 -

- - Profit/(Loss) on sale of unquoted investmens- long term - -

- - Profit/(Loss) on sale of unquoted investmens-current - - Proposed dividend (B/S item) 9,000 9,000 - - Proposed dividend (P&L item) - - Provident fund Adminstration charges - - Provision for bad and doubtful debts (B/S item) 500 - 500 Provision for bad and doubtful debts (P&L item) - - Provision for contingencies (B/S item) - - Provision for contingencies (P&L item) - - Provision for Depreciation-Building - - Provision for Depreciation-Computer 250 - 250 Provision for Depreciation - Development of property 100 - 100 Provision for Depreciation-Electrical equipments 1,000 50 - 1,050 Provision for Depreciation-Freehold building - - Provision for Depreciation-Furniture 400 225 250 - 425 Provision for Depreciation-Machinery - - Provision for Depreciation-Office Equipments 750 50 250 - 950 Provision for Depreciation-Railway Sidings 100 200 - 100

- - Provision for Depreciation-Vehicles - - Provision for FBT AY xxxx - -

- - Provision for FBT AY xxxx - - Provision for Income Tax AY xxxx 8,000 - 8,000

- - Provision for Income Tax AY xxxx 250 - 250 Provision for Provident Fund Contribution 800 - 800 Provision for salary 200 - 200 Provision for wages - - Provisions/liabilities no longer required written back - - Purchases - Raw Materials - - Purchases - Stores - - Railway siding -1 - -

- - Railway siding -2 2,000 2,000 - Rent expense - factory 1 - -

- - Rent expense factory 2 - -

- - Rent for office premises - - Rental deposit - -

Repairs and maintenance- electrical equipments 960 960 - Repairs and maintenance- machinery - -

- - Repairs and maintenance- other machinery - - Repairs and maintenance-building 1 - -

- - Repairs and maintenance-building 2 40 40 - Repairs to Office equipments 500 500 -

- - Repairs to vehicles - - Research and Development expenditure 2,500 2,500 - Revaluation reserve (B/S item) 2,800 2,800 - Revaluation reserve (P&L item) - - ROC filing Fee 360 360 -

- - Rounding off - -

- - RST 1% payable a/c 800 750 - 50 Salaries to staff - - Sales - DTA exports - -

- - Sales - Real exports - - Sales commission - - Sales Commission Payable 500 - 500 Sales- Exempted - - Sales promotion and publicity - - Sales tax deposit - - Sales- TNGST 10% 50,000 - 50,000 Sales TNGST 3% 20,000 - 20,000

- - Sales-Cst 4% 5,000 - 5,000 Secured Term loan Bank 1 - -

- - Secured Term loan Bank 2 600 - 600 Secured Term loan from financial institution 1 1,000 2,800 - 1,800

- - Secured Term loan from financial institution 2 200 - 200 Secured Term loan from subsidiary 1 5,000 200 1,500 - 6,300

- - Secured Term loan from subsidiary 2 300 8,000 - 7,700 Security Charges Payable - - Security Deposit with suppliers 500 - 500 Security deposit from customer 1 1,600 - 1,600

- - Security deposit from customer 2 900 - 900 Self Assessment tax paid - - Seminar and training charges - - Share Application money 1,000 - 1,000 Share premium account (B/S Item) 5,000 100 - 4,900 Sitting Fee 2,000 2,000 - Snacks and refreshment - - Software - - Sports/ cultural day expenses - - Staff salary advance - staff 1 5,000 200 100 5,100 -

- - Staff salary advance - staff 2 - - Stamping Fee - - Statutory audit fee - - Stipend to Labour - - Stock in transit insurance - - Subscription and periodicals - - Sundry Creditor - Party 1 1,080 - 1,080

- -

Sundry Creditor - Party 2 200 500 - 300 Sundry Creditor - Subsidiary 1 1,250 8,200 - 9,450

- - Sundry Creditor - Subsidiary 2 300 2,200 - 1,900 Sundry Creditors - SSI unit 1 1,000 5,500 2,150 2,350 -

- - Sundry Creditors - SSI unit 2 1,050 - 1,050 Sundry debtor- company 1 under same management 2,000 250 6,000 - 3,750

- - Sundry debtor- company 2 under same management 500 8,000 6,000 2,500 - Sundry debtors- director 1 50,000 8,000 42,000 -

- - Sundry debtors- director 2 25,000 750 24,250 - Sundry debtors- party 1 500 960 - 460 Sundry debtors- party 2 5,000 2,750 1,500 6,250 - Sundry debtors- party 3 2,500 3,000 - 500

- - Sundry debtors- party 4 - -

- - Superannuation fund - -

- - Tax audit fee 500 500 -

Tax deducted at source AY xxxx (Asset Item) 8,500 7,000 15,500 - - -

Tax deducted at source AY xxxx (Asset Item) - - Taxes of earlier years - - TDS Payable - Commission - - TDS Payable - Contract - - TDS Payable - Interest 1,250 - 1,250 TDS Payable - Professional Charges - - TDS Payable - Rent 2,250 6,000 3,750 -

- - TDS Payable - Salary 1,250 250 - 1,500 TDS return filing Fee 360 - 360 Technical knowhow - - Telehone charges - office - - Telephone deposit 1,000 1,000 -

- - Tender deposit - - Unclaimed dividend - year 1 800 800 - - Unclaimed dividend - year 2 1,000 - 1,000

- - Uniform expenses for labour/staff - - Unpaid Application Money received by company for allotment of securities and due for refund 9,000 - 9,000 Unpaid matured deposits 2,000 - 2,000 Unpaid matured debentures 5,000 - 5,000 Unsecured fixed deposit - party 1 2,500 - 2,500

- - Unsecured fixed deposit - party 2 400 - 400 Unsecured loans/advances from subsidiary 1 5,000 5,000 -

- - Unsecured loans/advances from subsidiary 2 7,000 - 7,000 Unsecured short term loans and advances from bank 1 10,000 2,000 - 12,000

- - Unsecured short term loans and advances from bank 2 1,400 - 1,400 Unsecured short term loans and advances from others 1 4,800 7,200 - 12,000

- - Unsecured short term loans and advances from others -2 - -

- - VAT 7,000 1,500 5,500 - VAT Payable 5,000 2,000 - 3,000 Vehicle - 1 9,800 800 9,000 -

- - Vehicle - 2 - - Water expenses 200 200 - x% Secured Redeemable debentures- class 1 350 - 350

- - x% Secured Redeemable debentures- class 2 1,000 - 1,000

Total 223,800 223,800 527,980 527,980 529,955 529,955 Difference - - -

Application Guidance for Accounting Standards in India

Gulf Builders & Contractors L.L.C.

GROUPINGS TO PROFIT AND LOSS ACCOUNT

For the year ended Dr

(Rs. in …….)

Domestic salesSales- Exempted - Sales- TNGST 10% - Sales TNGST 3% - - - Sales-Cst 4% -

- Export salesSales - DTA exports - - - Sales - Real exports -

- CommissionCommission - Job 1 - - - Commission - Job 2 -

- Profit/(Loss) on sale of Fixed AssetProfit/(Loss) on sale of Plant and Machinery - Profit/(Loss) on sale of Office Equipments - Profit/(Loss) on sale of Electrical Machinery - - - Profit/(Loss) on sale of Other assets -

- Profit on sale of businessProfit on sale of Business 1 - Profit on sale of Business 2 - - - Profit on sale of Business 3 -

- Profit/(Loss) on sale of long term investmentsProfit/(Loss) on sale of quoted investments 1,000 - - Profit/(Loss) on sale of unquoted investmens -

1,000

Profit/(Loss) on sale of current investmentsProfit/(Loss) on sale of quoted investments - - - Profit/(Loss) on sale of unquoted investmens -

- Dividend income from subsidiaryDividend from subsidiary 1 - - - Dividend from subsidiary 2 -

- Dividend income from trade investmentsDividend from trade investment 1 - - - Dividend from trade investment 2 -

- Dividend income from other investmentsDividend income from other investment 1 - - - Dividend income from other investment 2 -

- Interest income on Government securitiesInterest income from security 1 - - - Interest income from security 2 -

- Interest income on other investmentsInterest income from other investment1 - - - Interest income from other investment2 -

- Interest income on FD with banksInterest from FD 1 - - - Interest from FD 2 -

- Interest income on loans and advancesInterest income on staff advance - - - Interest income on labour advance -

- Lease rentalsLease rental from buildings - - - Lease rental from plant and machinery -

- Job work income Job work income - process 1 - - - Job work income - process 2 -

- Insurance claims

Insurance receipts-building - - - Insurance receipts-plant and machinery -

- Foreign exchange gain/(loss) - - Foreign exchange fluctuation -

- Miscellaneous incomeInterest on IT refund - Canteen income - - - Rounding off -

- Stores and spares consumedOpening stock of stores and spares 6,000 Add: Purchases - Less: Closing stock -

6,000 Power and Fuel Electricity charges - Factory 650 - - Diesel Expenses - Generator -

650 Factory RentRent - factory 1 - - - Rent - factory 2 -

- Repairs and maintenance-buildingRepairs and maintenance-building 1 - - - Repairs and maintenance-building 2 40

40 Repairs and maintenance-plant and machineryRepairs and maintenance- electrical equipments 960 Repairs and maintenance- machinery - - - Repairs and maintenance- other machinery -

960 Packing materialsPacking expense 1 - - - Packing expense 2 -

- Processing chargesProcessing charges - process 1 - - - Processing charges - process 2 -

- Carriage Inwards

Freight charges - Loading/unloading charges 150 - - Octroi -

150 Excise Duty - - Excise duty 9,000

9,000 Other expensesOther expenses -1 - - - Other expenses - 2 -

- Salaries, Wages and bonusSalaries to staff - Factory wages - Leave salary 500 Overtime Premium 500 Bonus to workers 500 - - Bonus to staff 3,000

4,500 Contribution to PF and other FundsEmployer's contribution to PF - Staff - Employer's contribution to PF - Labour 1,000 Provident fund Adminstration charges - Contibution to ESI - employer 8,500 Group Gratuity - - - Superannuation fund -

9,500 Staff WelfareIncentive to staff and labour - Labour Trip hire charges 120 Canteen Expenses 160 Seminar and training charges - Stipend to Labour - Sports/ cultural day expenses - Gratuity settlement to staff and labour - Snacks and refreshment - First Aid & Medical expenses - - - Uniform -

280 Rates and TaxesROC filing Fee 360 TDS return filing Fee - Pollution Renewal Fee - Stamping Fee - - -

ISO Certification Fee 150 510

Rent- office - - Rent for office premises -

- Travelling and ConveyanceConveyance charges - local 2,150 Foreign Travel expenses 2,500 Petrol and Diesel expenses 240 - - Director's travel expenses 3,000

7,890 InsuranceInsurance - Plant and Machinery - Insurance - Building - Insurance - Stock 1,500 Insurance for cash 120 Keyman Insurance 200 Stock in transit insurance - - - Group Insurance Premium -

1,820 Electricity - office - - Electricity charges for office 200

200 Managerial RemunerationDirectors' Salary 9,000 Sitting Fee 2,000 - - Directors' Commission 6,000

17,000 Postage, Telegram and TelephoneTelehone charges - office - Courier Charges 250 Internet Charges - - - Mobile Phone Expenses -

250 Printing and stationeryGeneral stationery - Computer stationery 500 - - Letter head printing charges 100

600 Professional feesLegal fees 1,000 Architect fees 680 - - Designers fees 2,000

3,680 Audit feeInternal audit fee 800 Statutory audit fee - - - Tax audit fee 500

1,300 Other ExpensesOffice Maintenance - Gardening - Water expenses 200 Donation - Subscription and periodicals - Repairs to Office equipments 500 Pooja expenses - - - Repairs to vehicles -

700 Interest on Term LoanInterest on Term Loan - Bank 1 - Interest on Term Loan - Bank 2 - - - Interest on Term Loan - Bank 3 - Interest on Term Loan - financial institution 1 500 - - Interest on Term Loan - financial institution 2 - Interest on Term Loan - secured-subsidiary 1 - - - Interest on Term Loan - secured-subsidiary 2 - Interest on Term Loan - unsecured-subsidiary 1 - - - Interest on Term Loan - unsecured-subsidiary 2 -

500 Interest on Working CapitalInterest on O/D- Bank 1 - - - Interest on O/D- Bank 2 - Interest on CC - Bank 1 - Interest on CC - Bank 2 - - - Interest on CC - Bank 3 - Interest on Fixed deposit 1 - - - Interest on Fixed deposit 2 -

- Other Finance ChargesDD / TT Charges 50 LC Charges 240 Other bank Charges - Interest on late payment to creditors - - -

Banking Transaction Tax - 290

Interest on debenturesInterest on debentures- class 1 900 - - Interest on debentures- class 2 -

900 Appropriations-Corporate dividend taxCorporate dividend tax- interim dividend 200 - - Corporate dividend tax- final dividend 1,000

1,200 Depreciation/AmortisationDepreciation-Computer 250 Depreciation- Development of property 100 Depreciation-Electrical equipments 50 Depreciation-Freehold building - Depreciation-Furniture 25 Depreciation-Machinery - Depreciation-Office Equipments 200 Depreciation-Railway Sidings 100 Depreciation-Vehicles - Amortisation on Goodwill 200 Amortisation on Other leased assets 150 Amortisation on Patents and Trademarks - Amortisation on Software - Amortisation on Technical knowhow - Amortisation on Leasehold building - - - Amortisation on Leasehold land 50

1,125

Application Guidance for Accounting Standards in India

Gulf Builders & Contractors L.L.C.

GROUPINGS TO PROFIT AND LOSS ACCOUNT

30-12-1899 For the year ended 30-12-1899 Cr Dr Cr

(Rs. in ……) (Rs. in …….) (Rs. in ……)

- 50,000 20,000 - 5,000 75,000 - -

- - - - - -

5,200 - 1,000 6,200 - -

- 11,000 - - 5,000 16,000 - -

100 600 - - 700 - -

- - - - - -

2,000 - - 2,000 - -

200 - 300 500 - -

- - - - - -

- - - - - -

- - - - - -

- - - - - -

800 - - 800 - -

- - - - - -

360 - 120 480 - -

4,500 - 250 4,750 - -

- - - - - -

- - - - -

- 300 - - 300 - -

- - (4,000) (6,000) - (4,000) (6,000) -

- - - - - -

- - - - - -

- - - - - -

- - - - - - -

- - - - - -

- - - - - -

- - - - - - -

- - - - -

- - - - - -

- - - - - - - - - -

- - - - - - - - - -

- - - - - - - - - - - - - -

- 360 - - -

- 360 - -

- - - - -

- - - - - - - -

- - - - - - - - - - -

- - - - -

- - - - - - -

- - - - - - - -

- - - - - - -

- - - -

- - -

- - - - - - -

- - - - - - - - - - - -

- - - - - - - - - - - - - - - -

- - - - - - - - - - - - -

- - - - -

1,225 1,225 - -

- - - - - -

- - - - - -

- - - - - - - - - - - - - - - - - - - -

Application Guidance for Accounting Standards in India

- 8,250 - 250 Provision for FBT AY xxxx - - - - - - - - - Provision for FBT AY xxxx - - - -

- - - - Provison for employee benefits Bonus payable - 8,000 - 6,000 Salary - 200 - - Wages - - - - ESI Payable - 400 - -

- 8,600 - 6,000

SCHEDULE 8 - INVENTORIES

Stores and spare parts 4,000 6,000 Loose tools 500 - Raw material 5,000 2,000 Finished goods 6,500 1,500 By products 300 7,500 Work in Process 100 600 Waste and scrap 200 2,000

16,600 19,600 SCHEDULE 9 - SUNDRY DEBTORS

Secured - considered gooda) Exceeding six monthsb) Others - - Unsecureda) Exceeding six months - Considered good - Considered doubtful Less: Provision for doubtful debts (500) (500) (500) (500)b) Others - Considered good 5,290 8,000 c) Debts due from Directors or other officers of the company 66,250 - (Maximum amount due at any time during the year Rs. xxxx)d) Debts due from other companies under the same management (1,250) 2,500

69,790 10,000 SCHEDULE 10 - CASH AND BANK BALANCES

Cash on hand (including remittance in transit) (300) - Balances with Scheduled banks - in Current Account (5,700) - - in Deposit Account (1,900) 5,000 - in Margin Money Account (600) - - in Call Account 55,925 47,725 - 5,000 Balances with other banks Bank XXX - in Current Account 48,650 9,000 - in Deposit Account (1,550) (3,000) - in Call Account 500 - (Maximum amount outstanding at any time during 47,600 6,000

Bank YYY - in Current Account 11,550 - - in Deposit Account 2,200 - - in Call Account 3,300 17,050 800 800 (Maximum amount outstanding at any time during

112,075 11,800 SCHEDULE 11 - OTHER CURRENT ASSETSDividend Receivable - - Interest accrued on Investments 200 -

200 - SCHEDULE 12 - LOANS AND ADVANCES (Unsecured,considered good)

Advances and loans to Subsidiaries 3,000 2,600

Advances and loans to Partnership Firms in which the company or any of its Subsidiaries is a partner 5,200 3,000

Bills of Exchange 2,300 1,000

Advances recoverable in cash or in kind or for the value to be 2,700 9,000 received

Balances with Customs,Port Trust,etc.(where payable on demand) - 2,500

Inter Corporate Loan 300 - Advance Income tax 2,250 1,500 Advance Fringe benefit tax 7,000 5,000 Tax deducted at source 15,500 8,500 Deposits 11,460 10,000

49,710 43,100 SCHEDULE 13 - CURRENT LIABILITIES

Acceptances - - Sundry Creditors - Due to Small Scale Industries (1,300) 1,000 - Other than Small Scale Industries 3,230 1,930 5,250 6,250 Payable to Subsidiary Companies 11,350 1,250 Advance payments and unexpired discounts for the portion for 4,180 (500) which value has still to be givenInvestor Education and Protection Fund

- 800 1,000 -

- Unpaid Application Money received by company for allotment 9,000 9,000 of securities and due for refund - Unpaid matured deposits 2,000 2,000 - Unpaid matured debentures 5,000 5,000 - Interest accrured on the above 1,000 18,000 3,000 19,800 Security Deposits 2,500 2,500

the year Rs.xxxx)

the year Rs.xxxx)

- Unclaimed dividend Year 1 - Unclaimed dividend Year 2

Commission due to Directors (Net) 11,000 - Sales tax payable (900) 800 Interest accrued but not due on loan

48,060 30,100 SCHEDULE 14 - PROVISIONS

Provision for tax - Income tax 8,250 250 - Fringe benefit tax - 8,250 - 250 Proposed dividend - 9,000 Preference dividend payable - - Corporate dividend tax 600 - Provision for contingencies - - Provision for Provident Fund Scheme 800 - Provision for employee benefits 8,600 6,000

18,250 15,250

Gulf Builders & Contractors L.L.C.

SCHEDULE 6 - FIXED ASSETS

Gross Block Depreciation / Amortisation Net BlockDescription As at Additions Deletions As at Up to For the Deletions Up to As at As at

30-12-1899 30-12-1899 30-12-1899 Year 30-12-1899 30-12-1899 30-12-1899

A.Tangible Assets

Freehold land - - - - - - -

Leasehold Land - - - - 100 50 - 150 (150) (100)

Freehold Buildings 2,200 - - 2,200 - - - - 2,200 2,200

Leasehold Buildings - 5,000 - 5,000 - - - - 5,000 -

Railway Sidings 2,000 - - 2,000 - 200 100 100 1,900 2,000

Plant & Machinery - - - - - - - - - -

Furniture and Fittings - - - - 400 250 225 425 (425) (400)

Development of Property 8,000 6,000 - 14,000 - 100 - 100 13,900 8,000

Electrical Equipments - 8,000 - 8,000 1,000 50 - 1,050 6,950 (1,000)

Office Equipments - - - - 750 250 50 950 (950) (750)

Vehicles 9,800 - 800 9,000 - - - - 9,000 9,800

Computer 50,000 14,000 52,000 12,000 - 250 - 250 11,750 50,000

Other Leased Assets - - - - - 150 - 150 (150) -

B. Intangible Assets

Goodwill - - - - 500 200 - 700 (700) (500)

Software - - - - - - - - - -

Technical Knowhow - - - - - - - - - -

Patents,Trademarks and - 2,000 2,000 - - - - - - - Designs

Total 72,000 35,000 54,800 52,200 2,750 1,500 375 3,875 48,325 69,250

Previous yearCapital Work in Progress - Tangible Assets - - - Intangible Assets 1,000 5,000

4.Exchange rate differences arising during the year on foreign currency loans borrowed on acquisition/construction of fixed assets have been adjusted - increase

erection and pre-operative expenses.

8. Other leased assets include:

Any other class of asset - Rs. xxxx

1. Leasehold Land includes Rs.xxxx(Previous Year Rs.xxxx) in respect of which lease deeds are pending execution.2. Gross Block includes Rs. xxxx added on revaluation of asset name as at xx.xx.xxxx.3.Building /land includes cost of shares in co-operative societies Rs.xxxx.

of Rs.xxxx - (Previous Year Rs.xxxx).5.Class of asset include asset given on operating lease amounting to Rs.xxxx.6.Capital work-in-progress includes advance against capital expenditure, asset name under installation/transit,construction material purchases,and other assets under

7.Class of asset include Rs.xxxx being company's share of cost of asset name jointly owned with other corporates.

Plant & Machinery - Rs. xxxx Computers - Rs. xxxx

IncomeAS-9 Sales 17 75,000 -

Other income 18 33,230 - Increase/(Decrease) in Stock 19 (4,500) 11,600

103,730 11,600

ExpenditureManufacturing Expenses 20 9,800 (8,000)Personnel Cost 21 14,280 - Administrative and Selling Expenses 22 52,370 -

AS-16 Interest and Finance Charges 23 465 - 76,915 (8,000)

Profit before Depreciation 26,815 19,600 AS-6 Depreciation 1,125

Less: Transferred from Revaluation Reserve - (1,125) -

AS-5 Extraordinary Items Loss due to earthquake - Extraordinary gain -

AS-5 Prior period items - Profit before tax 25,690 19,600 Profit from continuing operations before tax 13,690 19,600

AS-22 Less: Tax expense - Current tax (8,600) - Deferred tax 3,900 - Fringe Benefit tax (200)Profit from continuing operations after tax (a) 8,790 19,600

AS-24 Profit from discontinuing operations before tax 12,000 Tax expense - Current tax 600 - Deferred tax 100 - Fringe Benefit tax 200 Profit from discontinuing operations after tax (b) 12,900 - Profit after tax (a+b) 21,690 19,600 Add :Balance brought forward from previous year 19,600 Add/ (Less):Debenture Redemption Reserve 2,000 written back/ created Capital Redemption Reserve 1,000 written back/ created Investment Allowance Reserve 1,000 written back/ created Capital Reserve written back 1,000 - Foreign Currency Trans. Reserve 100 24,700

AS-14 Add/(Less): Taxation for earlier years - Balance in Profit and Loss Account 800 -

of Amalgamating company 800 -

Profit available for Appropriation 47,190 19,600

AppropriationsTransfer to General Reserve -

G.N Preference dividend - Interim dividend 5,000 Proposed dividend - Corporate dividend tax 1,200 - Surplus/(Deficit) carried to Balance Sheet 40,990 19,600

AS-20

(Refer Note 29, Schedule 16)

NOTES TO ACCOUNTS 16

(Refer note no.xxx)

Basic EPS of Rs. xx eachDiluted EPS of Rs. xx each

I. Sources of Funds

(1) Shareholders' funds: (a) Capital 1 65,000 19,500 (b) Reserves and surplus 2 52,290 117,290 38,800 58,300

(2) Loan funds: (a) Secured loans 3 106,000 65,500 (b) Unsecured loans 4 50,820 156,820 21,900 87,400

AS-22 Deferred Tax Liability 5 - -

TOTAL 274,110 145,700 II. Application of Funds

AS-10 (1) Fixed assets:AS-26 (a) Gross block 6 52,200 72,000 AS-6 (b) Less : Depreciation (3,875) (2,750)

(c) Net block 48,325 69,250 (d) Capital work-in-progress 1,000 49,325 5,000 74,250

AS-13 (2) Investments 7 35,720 32,300

(3) Current assets , loans and advances:

AS-2 (a) Inventories 8 16,600 19,600 (b) Sundry debtors 9 69,790 10,000 (c) Cash and bank balances 10 112,075 11,800 (d) Other current assets 11 200 - (e) Loans and advances 12 49,710 43,100

248,375 84,500 Less: Current liabilities and provisions: (a) Liabilities 13 48,060 30,100 (b) Provisions 14 18,250 15,250

66,310 45,350 Net current assets 182,065 39,150

AS-22 Deferred Tax Asset 4,000

GN (4) (a) Miscellaneous expenditure 15 3,000 - to the extent not written off or adjusted (b) Profit and loss account - -

TOTAL 274,110 145,700

Application Guidance for Accounting Standards in India

Gulf Builders & Contractors L.L.C.

CASH FLOW STATEMENT

Current Year(Rs. in ……..)

A. Cash Flow from Operating Activities

a. Net Profit before taxation and extraordinary itemsb. Adjustments for:

Depreciation 1,125 Foreign Exchange gain (unrealised) - Foreign Exchange loss (unrealised) - Interest income (800)Dividend income (500)Preliminary expenses written off 3,000 Provision for employee benefits 2,600 Provision for Provident Fund Contribution 800 Liabilities/Provisions written back - Provision for contingencies - Equity share/Debenture issue expenses 100 Advances to subsidiaries/ firms/corporates written

off 1,600 Diminution in investments 200 Increase in value of investments (1,500)(Profit)/Loss on sale of fixed assets (16,000)(Profit)/Loss on sale of investments(net) (1,000)(Profit) on sale of business 700 Interest expense(net) 465

c. Operating Profit before working capital changesi. (Increase)/Decrease in sundry debtors (59,790)ii.(Increase)/Decrease in inventories 3,000 iii.Increase/(Decrease) in current liabilities 17,960 iv.(Increase)/Decrease in loans and advances 6,040 v.Net current assets transferred on sale/ 100

AS

- 3

amalgamation of businessd. Cash generated from operationse. Income Taxes paid net of refundf. Cash flow before extraordinary itemsg. Extraordinary items:

i.Loss due to earthquake -

AS

- 3

ii.Extraordinary gain - h. Net Cash from operating activities

B. Cash Flow from Investing Activities

a. Purchase of Fixed assets (29,000)b. Proceeds from sale of asset 68,000 c. Capital Work in Progress (2,000)d. Proceeds from sale of businesse. Advances to subsidiaries/ firms (4,000)f. Inter corporate loans and advances (500)g. Purchase of investments (1,120)h. Sale of investments - I. Interest received 600 j. Dividend received 500 k. Net Cash from investing activities

C. Cash Flow from Financing Activities

a. Issue of shares/Capital introduced 45,500 b. Proceeds from long term borrowings 3,600 c. Repayment of long term borrowings (1,000)d. Redemption of debentures - e. Issue of debentures 1,350 f. Fixed deposits accepted/(repaid) 400 g. Change in working capital finance 36,950 h. Net increase/(decrease) in other borrowings 26,920 I. Dividends paid (14,000)j. Equity share/Debenture issue expenses (100)k. Preliminary expenses incurred during the year (6,000)l. Corporate dividend tax (600)m. Interest paid 735 n. Net Cash from financing activities

Net increase in cash and cash equivalents(A+B+C)

Cash and cash equivalents at the beginningof the period

Cash and cash equivalents at the end of thePeriod

The above Cash Flow Statement has been prepared under the indirect method set out in AS-3 issued by ICAI. Previous year figureshave been regrouped and recast wherever necessary to conform to current year classification.

The Cash Flow of continuing and discontinuing operations are:

AS

- 2

4

Continuing operations

AS

- 2

4

Current year

A. Net Cash Flow from Operating Activities

B. Net Cash from Investing activities

C. Net Cash Flow from Financing activities

This is the Cash Flow Statement referred to in our report of even date.

Gulf Builders & Contractors L.L.C.

CASH FLOW STATEMENT

Current Year Previous Year(Rs. in ……..) (Rs.in ………)

25,690 19,600

- - - - - -

- - -

- - - - - -

(9,210) - - 16,480 19,600

(32,690) -

(16,210) 19,600 (9,750) (25,960) 19,600

-

- - - (25,960) 19,600

32,480 -

93,755 -

100,275 19,600

11,800

112,075 19,600

The above Cash Flow Statement has been prepared under the indirect method set out in AS-3 issued by ICAI. Previous year figureshave been regrouped and recast wherever necessary to conform to current year classification.

Continuing operations Discontinuing operations Total

Previous year Current year Previous year CurrenPrevious year

IT paid

Application Guidance for Accounting Standards in India

Schedule 16 : NOTES TO ACCOUNTS

Significant Accounting Policies

AS - 9

AS - 2

AS - 5

AS - 6

1. Basis of preparation of Financial Statementsa) The financial statements have been prepared under the historical cost convention in

accordance with Generally Accepted Accounting Principles (GAAP), Accounting Standardsissued by the Institute of Chartered Accountants of India (ICAI), and the relevant

2. Revenue Recognitiona) Revenue from sale of goods is recognised when the risks and rewards of ownership are

transferred to the buyer.b) Sales are net of sales return and sales tax but include applicable excise duty and other

elements as are allowed to be recovered as part of the price.c) Interest income is recognised on a time proportion basis, taking into account the amount

outstanding and the rate applicable.d) Dividend income is recognised when the company’s right to receive the payment is

established.e) Insurance claims for loss of profit are accounted for in the year of acceptance. Other

insurance claims are accounted for based on certainty of realisation.

3. Inventories a) Raw materials are valued at cost on First In First Out (FIFO)/Weighted Average basis.

includes all taxes and duties, but excludes taxes and duties that are subsequentlyrecoverable from the taxing authorities. Imported products in transit are valued at CIFcost. However when the cost of finished products exceeds its net realisable value, the rawmaterials are written down to net realisable value. The replacement cost is taken as thenet realisable value.

b) Stock-in-process is valued at raw material cost plus cost of conversion, or net realizablevalue, whichever is lower.

c) Finished products are valued at cost (on FIFO basis) or net realizable value, whichever islower.

d) Scrap is valued at net realizable value.e) Empty packages are valued at cost.f) Stores and spares are valued at cost on First In First Out (FIFO)/Weighted Average basis.

Specific provision is made in respect of identified obsolete stores & spares for likelydiminution in value. Further, an adhoc provision at the rate of x% is also made on thebalance stores and spares towards likely diminution in value. Stores and spares in transitare valued at cost.

g) Surplus items, when transferred from completed projects are valued at cost/realizablevalue, pending periodic assessment/ascertainment of condition.

h) Excise/Customs duty is provided on stocks stored in Bonded Warehouses (excludinggoods exempted from duty/exports or where liability to pay duty is transferred toconsignee).

4. Use of accounting Estimatesa) The preparation of the financial statements in conformity with the Generally Accepted

Accounting Principles requires the company’s management to make estimates andassumptions that affect the reported balances of assets and liabilities and disclosuresrelating to contingent assets and liabilities as at the date of the financial statements andreported amounts of income and expenses during the period.

b) Examples of such estimates include provisions for bad and doubtful debts, futureobligations under employee retirement benefit plans, income taxes, post sales customer

5. Depreciationa) Depreciation on fixed assets (other than leased assets) is provided on straight line

method on the following basis:i) Assets acquired up to (Month) (year) on the basis of specified period under section

205(2) of the Companies Act, 1956.ii) In respect of assets acquired after (Month) (year), (class of assets)

based on estimated useful life of the assets determined by technical evaluation at thefollowing rates: (Class of Asset): yy% (Class of asset): xx%

b) (Class of asset) are depreciated at the rates specified in the Schedule XIV to theCompanies Act, 1956.

c) The depreciation on incremental value arising from revaluation of fixed assets is chargedto revaluation reserve account.

d) Depreciation on leased assets is charged to Profit and Loss Account on straight linemethod over the primary lease period.

AS- 7

AS- 10

AS- 11

AS - 12

5. Depreciationa) Depreciation on fixed assets (other than leased assets) is provided on straight line

method on the following basis:i) Assets acquired up to (Month) (year) on the basis of specified period under section

205(2) of the Companies Act, 1956.ii) In respect of assets acquired after (Month) (year), (class of assets)

based on estimated useful life of the assets determined by technical evaluation at thefollowing rates: (Class of Asset): yy% (Class of asset): xx%

b) (Class of asset) are depreciated at the rates specified in the Schedule XIV to theCompanies Act, 1956.

c) The depreciation on incremental value arising from revaluation of fixed assets is chargedto revaluation reserve account.

d) Depreciation on leased assets is charged to Profit and Loss Account on straight linemethod over the primary lease period.

6. Expenditure incurred during Construction period (in case of contractee)a) In case of supply-cum-erection contracts, the value of supplies received at site and

accepted is treated as capital work in progress.b) Revenue expenses exclusively attributable to projects incurred during construction period

are capitalised.c) Financing cost incurred during the construction period on loans specifically borrowed and

utilized for products is capitalised on quarterly/monthly basis.d) Financing cost, if any, on general borrowings used for projects is capitalised at weighted

average cost. The amount of such borrowings is determined on quarterly/monthly after setting off the amount of internal accruals.

7. Long term Contracts (in case of contractor)a) The company accounts for income on the percentage to completion basis, which

necessarily involve technical estimates of the percentage of completion, and costs tocompletion of each contract/ activity, on the basis of which profits/losses are accounted.

b) Such estimates, made by the company and certified to the auditors, have been reliedupon by them, as these are of a technical nature.

c) Expenditure incurred during the progress of contracts and the estimated profits up to thestage of completion are carried forward as work- in- progress. Advances and progress

8. Fixed Assetsa) Fixed assets (other than those which have been revalued) are stated at their original cost

of acquisition or construction less accumulated depreciation/amortization and specificgrants. Costs include related taxes, freight, duties, levies, insurance, etc. attributable toacquisition and installation of assets and borrowing cost incurred up to the date ofcommencing operations, but excludes duties and taxes that are recoverablesubsequently from the taxing authorities.

b) The revalued fixed assets are restated at their estimated current replacement values ason date of revaluation as determined by the valuers.

c) In line with Accounting Standard 19 on ‘Leases’, fixed assets acquired through ‘financelease’ transactions entered into on or after 1st April 2001, have been capitalised.

d) Machinery spares which are capitalised are depreciated over the useful life of the relatedfixed asset. The written down value of such spare is charged to Profit and Loss Accounton issue for consumption.

e) Where foreign currency loans have been availed to purchase fixed assets, the exchange

9. Foreign Currency Transactionsa) Transactions denominated in foreign currencies are normally recorded at the exchange

rate prevailing at the date of the transaction.b) At the balance sheet date, monetary items denominated in foreign currency (such as

cash, receivables, payables etc.) are translated at the exchange rate prevailing on thelast day of the accounting year.

c) Non-monetary items denominated in foreign currency (such as investments, fixed assets,etc) are translated at the exchange rate ruling at the date of the transaction.

d) The income or expense on account of exchange difference either on settlement or ontranslation is recognised in the Profit & Loss Account except those relating to acquisitionof fixed assets which are adjusted to the cost of such assets.

10. GrantsI. Capital Grants

a) In case of depreciable assets, the cost of the asset is shown at gross value and the grantthereon is treated as capital grants which are recognised as income in the Profit and LossAccount over the period and in proportion in which depreciation is charged.

b) In case of non- depreciable assets, the amount is credited to capital reserve. The amountis credited to income as and when the conditions / obligations attached to the grant are

11. Investmentsa) Investments are classified into long - term investments and current investments. Long -

term investments are those that are intended to be held for more than a year from the

AS - 13

AS - 15

AS - 16

AS -19

AS -22

AS - 26

AS - 28

11. Investmentsa) Investments are classified into long - term investments and current investments. Long -

term investments are those that are intended to be held for more than a year from the

12. Retirement Benefitsa) The company makes regular contribution to Provident fund and Super annuation fund and

these contributions are charged to Profit and Loss Account.b) Liability towards gratuity is paid to a fund maintained by XXXX and administered through

a separate trust set up by the company. Difference between the fund balance and the

14. Leasea) Lease income is accounted as per terms of the lease agreement for contracts entered into

up to 31st March 2001. Income from leases entered into on or after 1accounted for as per Accounting Standard- 19 “Leases” issued by Institute of CharteredAccountants of India (ICAI). Initial direct costs are written off in the year in which they areincurred.

b) Cost of assets given on lease is amortized during the lease period, for all leased assetsacquired prior to 01.04.2001 as recommended in the “Guidance Note on Accounting forLeases (Revised)” issued by ICAI. Lease Equalization Account, which represents the excessof annual lease charge over statutory depreciation, is debited to Profit and Loss Account.

c) Cost of assets taken on lease on or after 01.04.2001 is amortized over the lease tenure asper the Accounting Standard- 19 “Leases” issued by ICAI, based on the capital recovery

15. Taxationa) Provision for current tax is made after taking into consideration benefits admissible under

the provisions of the Income Tax Act, 1961.b) Deferred tax resulting from timing difference between book and taxable profit is

accounted for using the tax rates and laws that have been enacted or substantively

16. Intangible Assetsa) Intangible assets are stated at cost less accumulated amortisation. Amortisation is done

on written down value basis.b) Costs incurred on technical know-how/ license fee relating to production process are

charged to revenue in the year of incurrence.c) Costs incurred on technical know-how/ license fee relating to process

design/plants/facilities are accounted as “Work-in-progress – Intangible Assets” during theconstruction period of the said plant/facility. At the time of capitalisation of the saidplant/facility, such costs are capitalised as Intangible Asset and amortized on a straightline basis over a period of x years or life of the said plant/facility, whichever is earlier,beginning from the quarter/month in which the said plant is capitalised.

d) Costs incurred on computer software purchased/developed on or after future economic benefits, are capitalised as Intangible Assets and amortised over aperiod of x years beginning from the quarter/month in which such software is capitalised.However, where such computer software is still in development stage, costs incurredduring development stage of such software are accounted as “Work-in-progress-Intangible Assets”.

17. Impairment of Assetsa) Consideration is given at each balance sheet date to determine whether there is any

indication of impairment of the company’s fixed asset.b) If any indication exists, an asset’s recoverable amount is estimated.c) An asset is treated as impaired when the carrying amount of asset exceeds its

recoverable value.d) The impairment loss is charged to Profit and Loss Account in the year in which an asset is

AS - 29

G.N

AS-29 21 Contingent Liabilities not provided for:(Rs. in ……..)

Particulars Current Year Previous Year

a. Claims against the company not acknowledged as debts xxxx xxxxxxxx xxxxxxxx xxxxxxxx xxxx

on capital account and not provided for xxxx xxxxxxxx xxxx

f. Letters of credit opened by banks xxxx xxxxxxxx xxxx

h. Industrial disputes pending before Tribunal/High Court xxxx xxxxi. Differential amount of Customs Duty in respect of machinery xxxx xxxx imported under EPCG Scheme including interest thereon xxxx xxxxj. Liability in respect of Bills discounted with banks xxxx xxxxk. Sales tax deferral liability assigned xxxx xxxxl. Performance Guarantees xxxx xxxx

m.Certain industrial disputes are pending before Tribunal/High Court. No provision has been made in the accounts as the liability of the company in respect of these disputes depends upon the final outcome of such cases and the quantum of which is not currently ascertainable.

decisions of the Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be either deleted or substantially reduced and accordingly no provision has been made.

22 Expenditure in Foreign Currency(Rs. in ……..)

Particulars Current Year Previous Year

a.Travelling and training xxxx xxxxb.General license fees(net of tax) xxxx xxxxc.Ocean freight xxxx xxxxd.Technical know how and services(net of taxes) xxxx xxxxe.Demurrage charges xxxx xxxxf. Royalty xxxx xxxxg.Professional and consultancy fees xxxx xxxxh.Interest and commitment charges on foreign currency xxxx xxxx loans/debenturesi. Expenses on foreign contracts xxxx xxxxj. Books, Publications and Membership fees paid xxxx xxxxk.Postage, telegram, telex and other expenses xxxx xxxxl. Loss in exchange xxxx xxxxm.Salaries xxxx xxxxn.Federal tax xxxx xxxxo.Commission to Directors xxxx xxxxp.Service charges to overseas subsidiaries xxxx xxxxq.Others xxxx xxxx

b. Uncalled liability on shares partly paidc. Arrears of fixed cumulative dividendsd. Estimated amount of contracts remaining to be executed

e. Disputed Excise/Income tax/Sales tax demands

g. Counter guarantee to bankers

n.The Income Tax assessment of the company has been completed up to the Assessment Year xxxx-xxxx. The disputed demand outstanding up to the said Assessment Year xxxx-xxxx is Rs. xxxx. Based on the

17. Impairment of Assetsa) Consideration is given at each balance sheet date to determine whether there is any

indication of impairment of the company’s fixed asset.b) If any indication exists, an asset’s recoverable amount is estimated.c) An asset is treated as impaired when the carrying amount of asset exceeds its

recoverable value.d) The impairment loss is charged to Profit and Loss Account in the year in which an asset is

18. Provisions, Contingent Liabilities and Contingent Assetsa) Provisions involving substantial degree of estimation in measurement are recognised

when there is a present obligation as a result of past events and it is probable that therewill be an outflow of resources.

b) Contingent liabilities are not recognised but are disclosed in the notes.c) Show cause notices issued by various Government authorities are not considered as

contingent liabilities. However, when the demand are raised against such show causenotices after considering the company’s views, these demands are either paid or treated

23 Earnings in Foreign Currency(Rs. in ……..)

Particulars Current Year Previous Yeara.Export of goods on FOB basis - Product 1 xxxx xxxx - Product 2 xxxx xxxx

currency out of the repartiable funds of foreign customer]b.Interest xxxx xxxxc.Dividend xxxx xxxxd.Technical know how and Service Charges xxxx xxxxe.Commission xxxx xxxxf.Consultancy services xxxx xxxxg.Earnings on foreign contracts xxxx xxxxh.Sale of publications xxxx xxxxi. Gain in exchange xxxx xxxxj. Others xxxx xxxx

24 Remittances in Foreign Exchange on account of dividend

Particulars Current Year Previous Year 1st Interim 2nd Interim 1st Interim

a. Number of Non resident Shareholdersb. Number of Equity shares on which dividend was paidc. Year to which the dividend related

AS-11 25 Premium on Forward Exchange contracts to be recognised in the Profit and Loss Account of subsequent accounting period

26 as at the Balance Sheet date are:

(Rs. in ……..)

Particulars Current Year Previous Yeara. Party 1b. Party 2c. Party 3Total - -

G.N 27 Auditors' Remuneration and Expenses(Rs. in ……..)

Particulars Current Year Previous Yeara. Audit feesb. Fees for - Taxation matters - Company Law matters - Management servicesc. Reimbursement of expensesd. Cost Audit fees

- -

# Includes paid to Branch auditor

28 Managerial Remuneration(Rs. in ……..)

Particulars Current Year Previous YearI. Managing Directors/Executive Directors/WholeTime Directors (WTD)a. Salariesb. Perquisitesc. Contribution to Provident fundd. Contribution to Superannuation funde. Contribution to Gratuity fundf. Leave salary/encashmentg. Incentive/Commission TotalII. Directors other than Managing/Executive/WTDa. Commissionb. Sitting fees Total

Note:

[Includes Rs. xx ( Previous year Rs. xx )received in Indian

d. Amount remitted (net of tax) Rs. in xx

amounts to Rs. xxxx(Previous year Rs. xxxx).

Sundry Creditors include a sum of Rs. xxxx payable to Small Scale Undertakings out of which outstanding for more than 30 days

Total

In addition, Whole Time Directors are also allowed the use of Company's car/any other asset for private purpose (upto xxxx kms per annum) on a payment of Rs.xxxx per month as specified in the terms of appointment.

III.Computation of Directors' Commission as per Section 349 of the Companies Act,1956

Particulars Current Year Previous Year a. Profit before tax as per Profit and Loss Account 25,690 b. Add: - Whole time Directors' remuneration including commission - Non Whole time Directors' Sitting fees and Commission - Provision for doubtful debts/advances - Provision for diminution in the value of investments - Profit on sale of fixed assets/immovable property - Compensation under Voluntary Retirement Scheme - Any other voluntary compensation,damage or payment made otherwise than by virtue of a legal liability - Loss from the sale of undertaking - Depreciation as per Profit and Loss Account

Sec.

19

8,

30

9,

34

9,

35

0

- Asset written off as per Profit and Loss Account - Loss on sale of fixed assets - Loss on sale of long term/current investments -

b. Less: - Capital Profit from the sale of undertaking - Premium on investment in Preference shares - Profit on sale of Fixed Assets/Immovable Property - Profit on sale of long term/current investments - Profit from the sale of undertaking - Depreciation under Section 350 of Companies Act,1956 - Loss computed under Section 349 in respect of any earlier year, to the extent unadjusted - Provision for deferred repairs/doubtful debts/advances/ contingencies written back (net) -

c. Profit as per Section 349 25,690

d. Commission to WTD/Managing Director restricted to: - in case of one WTD/Managing Director 5% 1,285 - in case of more than one WTD/Managing 10% 2,569 e. Commission to Non Whole time Director restricted to: - in case the company has a Managing Director/WTD 1% 257 - in case the company has no Managing Director/WTD 3% 771

29 Earnings Per share (EPS)

Particulars Current Year Previous Year I. Basic EPS

a. Profit after tax as per Profit and Loss Account 21,690 b. Add/(Less):Provision for tax of earlier years - c. Net Profit available to Equity Shareholders 21,690 (Used as numerator for calculating Basic EPS)

AS

-20

d. Weighted Average Number of Equity Shares (Number) (Used as denominator for calculating EPS)

#DIV/0!

II. Diluted EPS

a. Profit as per I(c) above 21,690 b. Add: Dividend recognised on dilutive potential equity shares and any tax thereon (eg.Preference dividend)c. Add: Interest recognised on dilutive potential equity shares and any tax thereond. Add/(Less): After tax amount of any change in expenses or income -

e. Adjusted Net Profit / (Loss) 21,690 (Used as numerator for calculating Diluted EPS)f. Weighted Average Number of Equity Shares (as per I(d) above)g. Add:Weighted Average Potential Equity Shares on conversion of Preference Shares/Debentures h. Add:Weighted Average Potential Equity Shares on excercise of Options issued at less than fair valuei. Add: Weighted Average Number of equity shares on account of proposed buy back not completed on balance sheet

e. Basic Earnings Per Share (face value of Rs.xx each) (in Rs.)

datej. Add:Partly paid shares not entitled to participate in dividend

k. Weighted Average Number of Equity Shares for Diluted - EPS (Number)

#DIV/0!

AS-22 30 Deferred Tax Liabilities/Assets (Net)(Rs. in ……..)

Particulars Current Year Previous YearI.Deferred Tax Liabilities: - Accelerated amortization of intangibles under IT Act 2,000 - - Depreciation on fixed assets 1,000 - - Lease accounting 2,000 - Gross Deferred Tax Liabilities 5,000 - II.Deferred Tax Assets: - Brought forward business loss and unabsorbed depreciation - - - Expenditure allowable on actual payment - - - Provision for diminution in the value of investments - - - Provision for doubtful debts - - - Provision for Excise duty 9,000 9,000 - Provision for Gratuity/pension - - - Provision for impairment losses - - Gross Deferred Tax Assets 9,000 9,000 Net Deferred Tax (Liabilities)/Assets (4,000) (9,000)

31 Related Party Disclosure

I. Nature of RelationshipName of the Related Party Nature of Relationshipa. Name of the companyb. Name of the company Sub-subsidiaryc. Name of the company Co-subsidiaryd. Name of the company Holding Companye. Name of the company Associatef. Name of the company Joint Ventureg. Name of the individual Key Management Personnel (KMP)

AS

-18

h. Name of the individual Relatives of KMPi. Name of the company Enterprises over which KMP

exercise significant influence

* If the relationship exists only for a part of the year specify the date upto which the relationship existed for each category

II. Details of transactions with Related Parties

Transactions Subsidiary Sub-subsidiary Co-subsidiary

A. Transactions during the year / perioda. Purchase of goodsb. Sale of goodsc. Purchase of fixed assetsd. Sale of fixed assetse. Dividends receivedf. Loans/Advances madeg. Loans receivedh. Loans repaidi. Remunerationj. Interest received/receivablek. Interest paid/payablel. Inter corporate deposits given/takenm. Guarantees given(Performance/Financial Guarantees)n. Services renderedo. Service incomep. Rent incomeq. Machinery rentalsr. Debentures issueds. Investmentst. Premium accrued on investment in Preference sharesu. ESOS granted

l. Diluted Earnings Per Share(face value of Rs.xx each)

Subsidiary (upto xx.xx.xxxx)*

v. Reimbursement of expensesw. Others

B. Amount outstanding on Balance Sheet datea. Loans given outstandingb. Loans taken outstandingc. Amounts receivabled. Amounts payablee. Deposits outstandingf. Debentures

CARO 32 Disputed Statutory Dues 2003 (Rs. in ……..)

Sl No. Name of the Statute Nature of Dues Current Year Previous Year

a. Central Excise Act, 1944 Excise Duty xxxx xxxxb. Finance Act, 1994(Service Tax) Service Tax xxxx xxxxc. Customs Act, 1962 Customs Duty xxxx xxxxd. Various State Sales Tax Acts Sales Tax-Local xxxx xxxxe. Central Sales Tax Act, 1956 Sales Tax-CST xxxx xxxxf. Income Tax Act, 1961 Income Tax xxxx xxxx

33 Licensed/Installed capacities and production details for the year ended ………….

Class of Goods* Unit Licensed Capacity**Current Previous

Year YearFinished Product 1 KLFinished Product 2 MTFinished Product 3Finished Product 4

*Details furnished only in terms of Finished Products** To be given only for those products covered by the list of industries in respect of which industrial licensing is compulsoryNotes:

34 Particulars in respect of Finished Goods Stock

Class of Goods Unit Year ended 30-12-1899Quantity Value

Opening StockFinished Product 1Finished Product 2Finished Product 3

- Closing StockFinished Product 1Finished Product 2Finished Product 3

-

Closing Stock excludes excess/shortages including damaged stocks and breakages etc.

35 Particulars in respect of Finished Goods - Purchases and Sales

Class of Goods Unit Year ended 30-12-1899Quantity Value

PurchasesFinished Product 1Finished Product 2Finished Product 3

- SalesFinished Product 1Finished Product 2Finished Product 3

-

36 Analysis of Raw Materials consumed

Description Unit Year ended 30-12-1899

1. Installed capacity is estimated on a 1/2/3 shifts basis and is as certified by the Company's Technical Expert2. Conversion Factor from KL to MT is as certified by the Company's Technical Expert

Quantity ValueRaw Material 1Raw Material 2Raw Material 3

-

37 Value of imported and indigenous raw materials, components and spare parts consumed

(Rs. in ……..)Description Year ended 30-12-1899 Year ended

Value % Valuea. Raw Materials - Imported - Indigenous

- - b. Components and Spare Parts - Imported - Indigenous

- - c. Machinery Spares - Imported - Indigenous

- -

38 CIF Value of Imports(Rs. in ……..)

Description Current Year Previous Year

a. Raw Materialsb. Capital Goodsc. Stores and spare partsd. Traded Goods

- -

39 LeasesI.In the case of LesseeA.Finance Lease

a. Fixed Assets include the following assets purchased on Finance Lease:(Rs. in ……..)

Particulars Amount Gross Block Asset 1 Asset 2 Asset 3 Total -

Net Block Asset 1 Asset 2 Asset 3 Total -

(Rs. in ……..)Particulars Current Year Previous YearWithin one yearLater than one year and not later than five yearsLater than five yearsTotal - -

Payment due Total Minimum Lease Future Interest on Payments outstanding Outstandings

As at As at As at 30-12-1899 30-12-1899 30-12-1899

Within one yearLater than one year and not later than five yearsLater than five yearsTotal - - -

b. Fixed Assets taken on Finance Lease prior to April 1, 2001 amount to Rs. xxxx (Previous Year Rs. xxxx). Future obligations towards lease rentals under the lease agreement as at xx.xx.xxxx amount to Rs. xxxx (Previous Year Rs. xxxx).

c. Fixed Assets taken on Finance Lease on or after April 1, 2001 amounts to Rs. xxxx (Previous Year Rs. xxxx). The minimum lease rentals outstanding as on xx.xx.xxxx in respect of these assets are as follows:

d. Significant terms under lease agreement (i) Basis of recognition of contingent rent. (ii) Clauses governing renewal, purchase option or escalation.

AS

-19

(iii) Restricted Covenants, if any.

B.Operating Lease

a.The company has taken an asset on operating lease which are non-cancellable. The lease payments made during the year

(Rs. in ……..)Particulars Current Year Previous YearWithin one yearLater than one year and not later than five yearsLater than five yearsTotal - -

II.In the case of LessorA.Finance Lease

Particulars Gross Investment Unearned Finance Income

As at As at As at 30-12-1899 30-12-1899 30-12-1899

Within one yearLater than one year and not later than five yearsLater than five yearsTotal - - -

B.Operating Lease

a.Fixed Assets include the following assets given on Operating Lease:(Rs. in ……..)

Particulars Amount Gross Block Asset 1 Asset 2 Asset 3 Total -

Depreciation Asset 1 Asset 2 Asset 3 Total -

Impairment Asset 1 Asset 2 Asset 3 Total -

Net Block Asset 1 Asset 2 Asset 3 Total -

b.Future lease rentals receivable are as follows:(Rs. in ……..)

Particulars Current Year Previous YearWithin one yearLater than one year and not later than five yearsLater than five yearsTotal - -

AS-2 40

decrease in profit for the year. The change in the valuation method was necessitated by the computerisation of stockvaluation in an ERP environment incorporating connectivity between factory and Head Office.

AS-13 41

under the Sick Industrial Companies (Special Provisions) Act, 1985. This being the long term strategic investment, in

amount to Rs. xxxx (Previous Year Rs. xxxx). The breakup of Minimum Lease Payments outstanding is are follows:

With effect from xx.xx.xxxx the company has changed the method of valuation of inventories from First In First Out toWeighted Average method. Consequently the value of inventory as at year end is lower by Rs. xxxx with a corresponding

The company had an investment of Rs. xxxx in equity shares/redeemable preference shares/redeemable debentures of XX Co. The operations of XX Co. had resulted in substantial erosion of its net worth and the company is potentially sick

the opinion of the management, no provision is required to be made for diminution in the value of this investment as thesame is of temporary nature.

AS- 14 42 AmalgamationXXX Ltd., a wholly owned subsidiary was amalgamated with the Company effective xx.xx.xxxx as per the order of the Hon'ble High Court of Madras dated (Month),(Year). The amalgamation has been accounted for under the "pooling of interest/ purchase" method as prescribed by the Accounting Standard 14 issued by the Institute of Chartered Accou-ntants of India. In accordance with the scheme of amalgamation sanctioned by the Hon'ble High Court of ………, the assets,liabilities and reserves(if applicable) of XXX Ltd as at xx.xx.xxxx have been taken over at book value/fair valueand Rs.xxxx being the excess of assets over liabilities/liabilities over assets after adjusting the cost of investments ofthe Company in the amalgamating company has been debited to General Reserve/ Goodwill/credited to Capital Reserve.

AS-15 43 Employee Benefits: ( relevant in case of defined benefit plans)

a. Changes in Present value of Defined Benefit Obligations representing reconciliation of opening and closing balances(Rs. in ……..)

Particulars Defined benefit Post employmentpension plans medical benefits

As at As at As at 30-12-1899 30-12-1899 30-12-1899

Opening defined benefit obligationService costInterest costActurial losses(gains)Losses(gains) on curtailmentsLiabilities extinguished on settlementsLiabilities assumed in an amalgamation in the nature of purchaseExchange differences on foreign plansBenefits paidClosing defined benefit obligation

b. Changes in fair value of Planned Assets representing reconciliation of opening and closing balances thereof(Rs. in ……..)

Particulars Defined benefitpension plans

Current Previous Year Year

Opening fair value of plan assetsExpected returnActurial gains and (losses)Assets distributed on settlementsContributions by employerAssets acquired in an amalgamation in the nature of purchaseExchange differences on foreign plansBenefits paid

The company expects to contribute Rs.xxxx to its defined benefit pension plans in the year …

c. Statement showing movement for five years in amounts of obligations and value of plan assets

Defined benefit pension plans Year 1 Year 2 Year 3

Defined benefit obligationsPlan assetsSurplus /(Deficit)Experience adjustments on plan liabilitiesExperience adjustments on plan assets

d. Principal Acturial Assumptions as at Balance Sheet Date(in %)

Particulars Current year Previous yearDiscount rate as at xx.xx.xxxxExpected return on plan assets at last day of financial yearProportion of employees opting for early retirementAnnual increase in healthcare costsFuture changes in maximum state healthcare benefits

e. Major categories of Plan Assets as a percentage of Total Plan Assets

Particulars Defined benefit Post employmentpension plans medical benefits

Current Previous Current Year Year Year

Government of India SecuritiesHigh quality corporate bonds

Equity shares of listed CompaniesPropertyOthers(to be specified)

f. Actual Return on Plan assets(Rs. in ……..)

Particulars Current year Previous yearExpected return on planned assetsActurial gain (loss) on planned assetsActual return on plan assets

AS- 24 44 Discontinuing OperationsAt the meeting held on xx.xx.xxxx, the Board of Directors had approved of a plan of disposal of certain assets and settlement of attributable liabilities pertaining to (division name), since the busniess is inconsistent with the long term objective of the Company/(any other reason). Negotiations are continuing with prospective buyers.

The estimated net realisable value of assets after recoking settlement of related liabilities is Rs.xx. Since at this juncture, uncertainities do remain as to the outcome of negotiations, the said surplushas not been, as a measure of prudence, recognised in the statement of Profit and Loss.

(Rs. in ……..)Particulars Current Year Previous YearRevenue Continuing Operations Discontinuing Operations TotalCost of sales Continuing Operations Discontinuing Operations TotalOperating Expenses Continuing Operations Discontinuing Operations TotalInterest Expenses Continuing Operations Discontinuing Operations TotalOthers (like impairment of assets, employee severence cost,etc) Continuing Operations Discontinuing Operations TotalProfit before tax Continuing Operations 13,690 19,600 Discontinuing Operations 12,000 - TotalTax expense Continuing Operations (4,900) - Discontinuing Operations 900 - TotalProfit after tax Continuing Operations 8,790 19,600 Discontinuing Operations 12,900 - Total

Basic EPSDiluted ES

45 The previous year's figures have been rewoked, regrouped, rearranged and reclassified wherever necessary. Accordingly amounts and other disclosures for the preceding year are included as part statements and of the current year financial are to be read in relation to the amounts and other disclosures relating to the current year.

AS-10 46out in the past. Consequent to the said revaluation there is an additional charge of depreciationof Rs. xxxx (Previous year Rs. xxxx) and an equivalent amount has been withdrawn from Revaluation Reserve and credited to Profit and Loss Account.

47

from General Reserve.

The Gross block of fixed assets incudes Rs. xxxx (Previous year Rs. xxxx) on account of revaluation

The company has bought back xxxx equity shares for a total consideration of Rs.xxxx at an average rice of Rs.xx per share. Consequently a sum of Rs. xx being the premium on buyback has been charged to Share Premium Account and a sum of Rs. xxxx has been transferred to Capital Redemption Reserve

AS-28 48 Net Selling Price Method, based on offers received from prospective buyers for purchase of the select items of class of asset. The offers received indicate that there is an active market for the items proposed for sale. The highest offer has been considered. The company however does not have intention to sell these assets in the near future, considering that during the remaining useful life of the assets, the probability of assets generating economic benefits is very good and the present value of such benefits equals the offers in hand.

Value in Use Method.To this end, the company has taken into account attributable operational flows for a period of xx years and estimated terminal flows at the end of that period by applying a discount rate of x% over bank rate applicable on balance sheet date.

(a) The recoverable amount of certain items of class of assets has been determined on the basis of

(b) The recoverable amount of certain items of class of assets has been determined on the basis of

Application Guidance for Accounting Standards in India

(Rs. in ……..) Previous Year

2nd Interim

Premium on Forward Exchange contracts to be recognised in the Profit and Loss Account of subsequent accounting period

payable to Small Scale Undertakings out of which outstanding for more than 30 days

for private purpose (upto xxxx kms

(Rs. in ……..) Previous Year

19,600

-

-

19,600

980 1,960

196 588 -

(Rs. in ……..) Previous Year

19,600 - -

#DIV/0!

-

-

-

-

#DIV/0!

* If the relationship exists only for a part of the year specify the date upto which the relationship existed for each category

Holding Co

Forum where the dispute is

Assistant Commissioner/Commissioner Appeals/Deputy Commissioner/Assistant Commissioner/Tribunal/High Court/Supreme Court

Installed CapacityCurrent

Year

** To be given only for those products covered by the list of industries in respect of which industrial licensing is compulsory

(Rs. in ……..)Year ended

Quantity

(Rs. in ……..)Year ended

Quantity

(Rs. in ……..)Year ended

Quantity

(Rs. in ……..)###

%

Future Interest on Outstandings

As at ###

-

xxxx). Future obligations

(Previous Year Rs. xxxx). The minimum

a.The company has taken an asset on operating lease which are non-cancellable. The lease payments made during the year

Unearned Finance Income

As at ###

-

with a corresponding

in equity shares/redeemable preference shares/redeemable debentures of had resulted in substantial erosion of its net worth and the company is potentially sick

the opinion of the management, no provision is required to be made for diminution in the value of this investment as the

the Company in the amalgamating company has been debited to General Reserve/ Goodwill/credited to Capital Reserve.

(Rs. in ……..)Post employmentmedical benefits

As at ###

(Rs. in ……..)

Year 4

(in %)Post employmentmedical benefits

Previous Year

Application Guidance for Accounting Standards in India

(Rs. in ……..)

(Rs. in ……..)

(Rs. in ……..)

(Rs. in ……..)

Associate KMP Enterprises over

which KMP exercise signif.influence

Joint Venture

Relatives of KMP

Forum where the dispute is pending

Assistant Commissioner/Commissioner Appeals/Deputy Commissioner/Assistant Commissioner/

High Court/Supreme Court

Installed Capacity Actual ProductionPrevious Current Previous

Year Year Year

(Rs. in ……..)###Value

-

-

(Rs. in ……..)###Value

-

-

(Rs. in ……..)###

Value

-

-

(Rs. in ……..)Present Value of Minimum Lease

PaymentsAs at As at ### ###

- -

(Rs. in ……..)Present Value of Minimum Lease

RentalsAs at As at ### ###

- -

(Rs. in ……..)

Year 5

Application Guidance for Accounting Standards in India

Gulf Builders & Contractors L.L.C. PART IV

BALANCE SHEET ABSTRACT AND COMPANY'S GENERAL BUSINESS PROFILE

Registration No:Balance Sheet Date: 30-Dec-99

II. Capital raised during the year(Amount in Rs. 000)

Public Issue

Bonus Issue

ACADEMIC GUIDANCE:

III. Position of Mobilisation and deployment of Funds (Amount in Rs.'000)

Total liabilities 274

Source of Funds:

Paid up Capital 65

Secured Loans 106

Application of Funds:

Net Fixed Assets 49

Net Current Assets 182

Accumulated losses 0

IV. Performance of Company (Amount in Rs.'000)

Turnover 104

Profit/Loss before Tax 26

Earnings per Share in Rs. 0

I .Registration details:

V. Generic Names of three principal Products/Services of Company    (as per monetary terms)

a. Item Code No. (ITC Code) xxxxxxxxxxxxxxxxxxxxxxxxxx Product Description:

Application Guidance for Accounting Standards in India

Gulf Builders & Contractors L.L.C. PART IV

BALANCE SHEET ABSTRACT AND COMPANY'S GENERAL BUSINESS PROFILE

Rights Issue

Private placement

III. Position of Mobilisation and deployment of Funds (Amount in Rs.'000)

Total Assets 274

Reserves & Surplus 52

Unsecured loans 51

Investments 36

Miscellaneous Expenditure 3

Total Expenditure 77

Profit/Loss after Tax 22

Dividend rate %

State code : xx

V. Generic Names of three principal Products/Services of Company  

xxxxxxxxxxxxxxxxxxxxxxxxxx