The National Tiger Conservation Authority (Annual Report and Annual Statement of Accounts) Rules, 2007
Published vide Notification No. G.S.R. 636(E), dated 28th September, 2007
Act2682
Ministry of Environment and Forests
G.S.R. 636(E). - In exercise of the powers conferred by clause (gv) of sub-section (1) of section 63 of the Wild Life (Protection) Act, 1972 (53 of 1972), the Central Government hereby makes the following rules specifying the form and the manner of preparation of the annual report and annual statement of accounts of the National Tiger Conservation Authority, namely:-
- Short title and commencement.- (1) These rules may be called the National Tiger Conservation Authority (Annual Report and Annual Statement of Accounts) Rules, 2007.
(2) They shall come into force on the date of their publication in the Official Gazette.
- Definitions.- In these rules, unless the context otherwise requires, -
(a) "Act" means the Wild Life (Protection) Act, 1972 (53 of 1972);
(b) "Form" means the form annexed with these rules;
(c) "Member-Secretary" means the Member-Secretary of the Tiger Conservation Authority appointed under clause (o) of sub-section (2) of section 38L of the Act;
(d) "Tiger Conservation Authority" means the National Tiger Conservation Authority constituted under section 38L of the Act.
- Annual Report of the Tiger Conservation Authority.- (1) The Member-Secretary, or any other officer of the Tiger Conservation Authority duly authorised by the Member Secretary in this behalf, shall prepare, the annual report, containing the details given in Form-A, referred to in section 38S of the Act on or before the 31stday of July following the financial year to which that report relate;
(2) The annual report, as approved by the Tiger Conservation Authority, shall be signed and authenticated by the Member-Secretary.
(3) Two copies of the authenticated report shall be submitted by the Member Secretary to the Central Government by the end of August following the year to which the annual report relates to enable the Central Government to take action as required under section 38T of the Act.
- Annual Statement of Accounts of Tiger Conservation Authority.- The Tiger Conservation Authority shall maintain its accounts and prepare in Form-B, the annual statement of accounts referred to in section 38R of the Act for each financial year.
Form-A
(see rule 3)
National, Tiger Conservation Authority Annual Report for the Financial Year April,______ to March,_______
| Chapter I | - | Introduction |
| Chapter II | - | Constitution of the National Tiger Conservation Authority including changes therein and its functions. |
| Chapter IIII | - | Meetings of the Tiger Conservation Authority and important decisions taken therein. |
| Chapter IV | - | Constitution of the National Tiger Conservation Authority including changes therein and its functions. |
| Chapter V | - | Monitoring and evaluation of tiger reserves (status) |
| Chapter VI | - | Committee constituted by the Tiger Conservation Authority. |
| Chapter VII | - | Financial and accounts of the Tiger Conservation Authority. |
| Chapter VIII | - | Annual Plan of the Tiger Conservation Authority |
| Chapter IX | - | Compliance issues |
| Chapter X | - | Annexures |
(i) List of tiger reserves (state wise) indicating their year of formation
(ii) Population estimation of tigers and wild animals in tiger reserves
(iii) Important poaching cases and seizures done in the tiger reserves
(iv) Details of grants release to tiger reserves during the year
(v) Financial statement / balance sheet as on 31st March of the year
(vi) Schedule forming part of balance sheet as on 31st March of the year Schedule 1- Corpus/Capital Fund
(vii) Schedule 7 (Current Liabilities and Provisions)
(viii) Schedule 8 (Fixed Assets)
(ix) Schedule 11 (Current Assets, Loans, Advances, etc.)
(x) Schedule 13 (Grants/Subsidies)
(xi) Schedule 14 (Fees/Subscriptions)
(xii) Schedule 18 (Other Income)
(xiii) Schedule 20 (Establishment Expenses)
(xiv) Schedule 21 (Other Administrative Expenses, etc)
(xv) Schedule 22 (Expenditure on Grants, Subsidies etc)
(xvi) Receipts and Payments for the period/year 31st March
(xvii) Figures of Schedule 20 with respect to receipt and payment account
(xviii) Audit Report on the accounts of Tiger Conservation Authority
(xix) Audit Certificate
Member Secretary National Tiger Conservation Authority
Place : Dated :
Form-B
(see rule 4)
National Tiger Conservation Authority
Part-I
Balance Sheet as at ___________________
| (Amount - Rs.) | |||
| CORPUS/CAPITAL FUND AND LIABILITIES | Schedule | Current year | Previous year |
| CORPUS/CAPITAL FUND | 1 | ... | ... |
| RESERVES AND SURPLUS | 2 | .... | ... |
| EARMAKED/EDOWMENT FUNDS | 3 | ... | ... |
| SECURED LOANS AND BORROWINGS | 4 | ... | ... |
| UNSECURED LOANS AND BORROWINGS | 5 | ... | ... |
| DEFERRED CREDIT LIABILITIES | 6 | ... | ... |
| CURRENT LIABILITIES AND PROVISIONS | 7 | ... | ... |
| TOTAL | .... | ... | |
| ASSETS | |||
| FIXED ASSETS | 8 | ... | ... |
| INVESTMENTS - FROM EARMARKED/ENDOWMENT FUNDS | 9 | ... | ... |
| INVESTMENTS - OTHERS | 10 | ... | ... |
| CURRENT ASSETS, LOANS, ADVANCES ETC. | 11 | ... | ... |
| MISCELLANEOUS EXPENDITURE | |||
| (to the extent not written off or adjusted) | |||
| TOTAL | ... | ... | |
| SIGNIFICANT ACCOUNTING POLICIES | 24 | ||
| CONTINGENT LIABILITIES AND NOTES ON ACCOUNTS | 25 |
National Tiger Conservation Authority
Part II
Income and expenditure account for the Period/Year Ended_____________
| (Amount-Rs.) | |||
| INCOME | Schedule | Current year | Previous year |
| Income from Sales/Services | 12 | ... | ... |
| Grants/Subsidies | 13 | ... | ... |
| Fees/Subscriptions | 14 | ... | ... |
| Income from Investments (Income on Invest from earmarked/endow. Funds transferred to Funds) | 15 | ... | ... |
| Income from Royalty, Publication etc. | 16 | ... | ... |
| Interest Earned | 17 | ... | ... |
| Other Income | 18 | ... | ... |
| Increase/(decrease) in stock of Finished goods and works-in-progress | 19 | ... | ... |
| TOTAL (A) | ... | ... | |
| EXPENDITURE | ... | ||
| Establishment Expenses | 20 | ... | ... |
| Other Administrative Expenses etc. | 21 | ... | ... |
| Expenditure on Grants, Subsidies etc. | 22 | ... | ... |
| Interest | 23 | ... | ... |
| Depreciation (Net Total at the year end - corresponding to schedule 8) | |||
| TOTAL (B) | ... | ... | |
| Balance being excess of Income over Expenditure (A-B) | |||
| Transfer to Special Reserve (Specify each) | ... | ... | |
| Transfer to/from General Reserve | ... | ... | |
| BALANCE BEING SURPLUS/DEFICIT CARRIED TO CORPUS/CAPITAL FUND | ... | ... | |
| SIGNIFICANT ACCOUNTING POLICES | 24 | ||
| CONTINGENT LIABILITIES AND NOTES ON ACCOUNTS | 25 | ||
Schedule Forming Part of Balance Sheet as at__________________
(see Part-I)
| (Amount-Rs.) | |||||
| Current Year | Previous Year | ||||
| SCHEDULE 1 - CORPUS/CAPITAL FUND: | |||||
| Balance as at the beginning of the year | ….. | ….. | |||
| Add: Contributions towards Corpus/Capital fund | ….. | ….. | |||
| Add/(Deduct): Balance of net income (expenditure) transferred from the Income and Expenditure Account | ….. | ….. | |||
| BALANCE AS AT THE YEAR - END | __ | …. | __ | ….. | |
| ….. | ….. | ||||
| (Amount-Rs.) | ||||
| Current Year | Previous Year | |||
| Schedule 2 - Reserves And Surplus: | ||||
| 1. Capital Reserve: | ||||
| As per last account Addition during the year | …... …... | …... …... | ||
| Less: Deductions during the year | (.....) | (…...) | ||
| ___ | …... | ___ | …... | |
| 2. Revaluation Reserve: | ||||
| As per last account Addition during the year | …... …... | …... …... | ||
| Less: Deductions during the year | (.....) | (…..) | ||
| ___ | …... | ___ | …... | |
| 3. Special Reserves: | ||||
| As per last account Addition during the year | …... …... | …... …... | ||
| Less: Deductions during the year | (.....) | (…..) | ||
| ___ | …... | ___ | …... | |
| 4. General Reserve: | ||||
| As per last account Addition during the year | …... …... | …... …... | ||
| Less: Deductions during the year | (.....) | (.....) | ||
| ___ | …... | ___ | …... | |
| TOTAL | …... | …... | ||
| (Amount-Rs.) | ||||||
| SCHEDULE 3-EARMARKED/ENDOWMENT | FUND-WISE BREAK UP | TOTALS | ||||
| Fund | Fund | Fund | Fund | Current | Previous | |
| WW | XX | YY | ZZ | year | Year | |
| (a) Opening balance of the Funds | …... | …... | …... | …... | …... | …... |
| (b) Addition to the Funds | ||||||
| (i) Donations/grants | ….. | ….. | ….. | ….. | ….. | ….. |
| (ii) Income from investments made on account of funds | ….. | ….. | ….. | ….. | ….. | ….. |
| (iii) Other additions (specify nature) | ….. | ….. | ….. | ….. | ….. | ….. |
| ___ | ___ | ___ | ___ | ___ | ___ | |
| ….. | ….. | ….. | ….. | ….. | ….. | |
| TOTAL (a+b) | ….. | ….. | ….. | ….. | ….. | ….. |
| (c) Utilisation/Expenditure towards objectives of funds | ||||||
| (i) Capital Expenditure | ||||||
| -Fixed Assets | ….. | ….. | ….. | ….. | ….. | ….. |
| -Others | ….. | ….. | ….. | ….. | ….. | ….. |
| __ | __ | __ | __ | __ | __ | |
| Total | …... | …... | …... | …... | …... | …... |
| (ii) Revenue Expenditure | ||||||
| -Salaries, Wages and allowances etc. | ..... | ..... | ..... | ..... | ..... | ..... |
| -Rent | ..... | ..... | ..... | ..... | ..... | ..... |
| -Other Administrative expenses | ..... | ..... | ..... | ..... | ..... | ..... |
| __ | __ | __ | __ | __ | __ | |
| Total | …... | …... | …... | …... | …... | …... |
| TOTAL (c) | ….... | ….... | ….... | ….... | ….... | ….... |
| NET BALANCE AS AT THE YEAR-END (a+b-c) | ….... | ….... | ….... | ….... | ….... | ….... |
Notes
(1) Disclosures shall be made under relevant heads based on conditions attaching to the grants.
(2) Plan Funds received from the Central/State Governments are to be shown as separate Funds and not mixed up with any other Funds.
| (Amount-Rs.) | |||||
| Current Year | Previous Year | ||||
| Schedule 4 - Secured Loans And Borrowings: | |||||
| 1. | Central Government | ….... | ….... | ||
| 2. | State Government (Specify) | ….... | ….... | ||
| 3. | Financial Institutions | ||||
| (a)Term Loans | ….. | ….. | |||
| (b)Interest accrued and due | ….. | ….. | |||
| ____ | …... | ____ | …... | ||
| 4. | Banks: | ||||
| (a) Term Loans - | ….. | ….. | |||
| -Interest accrued and due | ….. | ….. | |||
| (b)Other Loans (specify) | ….. | ….. | |||
| -Interest accrued and due | …... | ….. | |||
| ____ | …... | ____ | …... | ||
| 5. | Other Institutions and Agencies | …... | …... | ||
| 6. | Debentures and Bonds | …... | …... | ||
| 7. | Others (Specify) | …... | …... | ||
| TOTAL | …... | …... | |||
Note: Amounts due within one year
| (Amount-Rs.) | ||
| Current Year | Previous Year | |
| SCHEDULE 5 - UNSECURED LOANS AND BORROWINGS: | ||
| 1. Central Government | …...... | …...... |
| 2. State Government (Specify) | …...... | …...... |
| 3. Financial Institutions | …...... | …...... |
| 4. Banks: | ||
| a. Term Loans | …..... | …..... |
| b. Other Loans (specify) | …..... | …..... |
| 5. Other Institutions and Agencies | …..... | …..... |
| 6. Debentures and Bonds | …..... | …..... |
| 7. Fixed Deposits | …..... | …..... |
| 8. Others (Specify) | …..... | …..... |
| TOTAL | …..... | …..... |
Note: Amounts due within one year
| (Amount-Rs) | ||
| Current Year | Previous Year | |
| Schedule 6-Deferred Credit Liabilities: | ||
| (a) Acceptances secured by hypothecation of capital equipment and other assets | ... | ... |
| (b)Others | ... | ... |
| Total | ... | ... |
Note: Amounts due within one year
| (Amount-Rs.) | |||||
| Current Year | Previous Year | ||||
| SCHEDULE 7-CURRENT LIABILITIES AND PROVISIONS: | |||||
| A. Current Liabilities | |||||
| 1 | Acceptances | ….. | ….. | ||
| 2 | Sundry Creditors | ….. | ….. | ||
| (a) For Goods | ….. | ….. | |||
| (b) Others | ….. | ….. | ….. | ….. | |
| 3 | Advances Received | ….. | ….. | ||
| 4 | Interest accrued but not due on: | ||||
| (a) Secured Loans/borrowings | ….. | ….. | |||
| (b) Unsecured Loans/borrowings | ….. | ….. | |||
| 5 | Statutory liabilities | ….. | ….. | ||
| (a) Overdue | ….. | ….. | |||
| (b) Others | ….. | ….. | |||
| 6 | Other current Liabilities | ….. | ….. | ||
| TOTAL (A) | …... | …... | |||
| B. PROVISIONS | |||||
| 1 | For Taxation | …... | …... | ||
| 2 | Gratuity | …... | …... | ||
| 3 | Superannuation/Pension | …... | …... | ||
| 4 | Accumulated Leave Encasement | …... | …... | ||
| 5 | Trade Warranties/Claims | …... | …... | ||
| 6 | Others (Specify) | …... | …... | ||
| TOTAL (B) | …... | …... | |||
| TOTAL (A+B) | …... | …... | |||
| (Amount-Rs) | |||||||||||
| SCHEDULE 8-FIXED ASSETS | |||||||||||
| DESCRIPTION | GROSS BLOCK | DEPRECIATION | NET BLOCK | ||||||||
| Cost/valuati on as at beginning of the year | Additions during the year | Deductions during the year | Cost/valuation at the year-end | As at the beginning of the year | On additions during the year | On additions during the year | Total upto the year end | As at the Current year end | As at the Previous year-end | ||
| A. FIXED ASSETS | |||||||||||
| 1 | Land | ||||||||||
| (a) Freehold | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. | |
| (b) Leasehold | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. | |
| 2 | BUILDING | ||||||||||
| (a) On Freehold Land | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. | |
| (b) On Leasehold Land | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. | |
| (c) Ownership Plats/Premises | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. | |
| (d) Superstructures on Land not belonging to the entity | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. | |
| 3 | PLANT MACHINERY & EQUIPMENT | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 4 | VEHICLES | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 5 | FURNITURE FIXTURES | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 6 | OFFICE EQUIPMENT | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 7 | COMPUTER PERIPHERALS | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 8 | ELECTRIC INSTALLATIONS | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 9 | LIBRARY BOOKS | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 10 | TUBEWELLS & W. SUPPLY | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| 11 | OTHER FIXED ASSETS | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. |
| TOTAL OF CURRENT YEAR | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | ….. | ….. | |
| PREVIOUS YEAR | ….. | (.....) | ….. | ….. | ….. | ….. | ….. | ….. | |||
| B. CAPITAL WORK-IN-PROGRESS | ….. | ..... | |||||||||
| TOTAL | ….. | ….. | |||||||||
(Note to be given as to cost of assets on hire purchase basis included above)
| (Amount-Rs.) | ||
| Current Year | Previous Year | |
| SCHEDULE-9 INVESTMENTS FROM EARMARKED/ENDOWMENT FUNDS: | ||
| 1. In Government Securities | ...... | ...... |
| 2. Other approved Securities | ...... | ...... |
| 3. Shares | ...... | ...... |
| 4. Debentures and Bonds | ...... | ...... |
| 5. Subsidiaries and Joint Ventures | ...... | ...... |
| 6. Others (to be specified) | ...... | ...... |
| Total | ...... | ...... |
| (Amount-Rs.) | ||
| Current Year | Previous Year | |
| SCHEDULE 10-INVESTMENTS - OTHERS: | ||
| 1. In Government Securities | ...... | ...... |
| 2. Other approved Securities | ...... | ...... |
| 3. Shares | ...... | ...... |
| 4. Debentures and Bonds | ...... | ...... |
| 5. Subsidiaries and Joint Ventures | ...... | ...... |
| 6. Others (to be specified) | ...... | ...... |
| Total | ...... | ....... |
| (Amount-Rs) | |||||
| Current Year | Previous Year | ||||
| SCHEDULE 11 CURRENT ASSETS LOANS, ADVANCES ETC. | |||||
| A. Current Assets : | |||||
| 1 | Inventories | ||||
| (a) Stores and Spares | …... | …... | |||
| (b) Loose Tools | …... | …... | |||
| (c) Stock-in-trade | |||||
| Finished Goods | …... | …... | |||
| Work-in-progress | …... | …... | |||
| Raw Materials | …... | …... | …... | …... | |
| 2 | Sundry Debtors : | ___ | |||
| (a) Debts Outstanding for a period exceeding six months | …... | …... | |||
| (b) Others | …... | …... | |||
| 3 | Cash balances in hand(including cheques/drafts and imprest): | ___ | …... | ___ | …... |
| 4 | Bank Balance : | ||||
| (a) With Scheduled Banks | |||||
| -On Current Accounts | …... | …... | |||
| -On Deposit Accounts (includes margin money) | …... | …... | |||
| -On Saving Accounts | …... | …... | |||
| ___ | …... | ___ | …... | ||
| (b) With non-Scheduled Banks: | |||||
| -On Current Accounts | …... | …... | |||
| -On Deposit Accounts | …... | …... | |||
| -On Savings Accounts | …... | …... | |||
| 5 | Post Office-Savings Accounts: | ___ | …... | ___ | …... |
| TOTAL (A) | …... | …... | |||
| SCHEDULE 11 - CURRENT ASSETS. LOANS. ADVANCES ETC. (CONTD): | |||||
| B. LOANS ADVANCES AND OTHER ASSETS: | |||||
| 1 | Loans: | ||||
| (a) Staff | …... | …... | |||
| (b) Other Entities engaged in activities /objectives similar to that of the Entity | …... | …... | |||
| (c) Other (specify) | …... | …... | |||
| ___ | …... | ___ | …... | ||
| 2 | Advances and other amounts recoverable in cash or in kind or for value to be received: | ||||
| (a) On Capital Account | …... | …... | |||
| (b) Prepayments | …... | …... | |||
| (c) Others | …... | …... | |||
| ___ | …... | ___ | …... | ||
| 3 | Income Accrued: | ||||
| (a) On Investments from Earmarked/Endowment Funds | …... | …... | |||
| (b) On Investments - Others | …... | …... | |||
| (c)On Loans and Advances | …... | …... | |||
| (d) Others | …... | …... | |||
| (includes income due unrealized-Rs....) | ___ | …... | ___ | …... | |
| 4 | Claims Receivable: | …... | …... | ||
| TOTAL (B) | …... | …... | |||
| TOTAL (A+B) | …... | …... | |||
Schedule Forming Part of Income and Expenditure for the Period/year Ended____________
(see Part-II)
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 12 - INCOME FROM SALES/SERVICES: | |||
| (1) | Income from Sales | ||
| (a) Sale of Finished Goods | …... | …... | |
| (b) Sale of Raw Material | …... | …... | |
| (c) Sale of Scraps | …... | …... | |
| (2) | Income from Services | …... | …... |
| (a) Labour and Processing Charges | …... | …... | |
| (b) Professional/Consultancy Services | …... | …... | |
| (c) Agency Commission and. Brokerage | …... | …... | |
| (d) Maintenance Services (Equipment/Property) | …... | …... | |
| (e) Others (Specify) | …... | …... | |
| TOTAL | …... | …... | |
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 13 – GRANTS/SUBSIDIES: (Irrevocable Grants and Subsidies Received) | |||
| …... | …... | ||
| (1) Central Government | …... | …... | |
| (2) State Government(s) | …... | …... | |
| (3) Government Agencies | …... | …... | |
| (4) Institutions/Welfare Bodies | …... | …... | |
| (5) International Organisations | …... | …... | |
| (6) Others (Specify) | …... | …... | |
| TOTAL | …... | …... | |
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 14 - FEES/SUBSCRIPTIONS: | |||
| (1) Entrance Fees | …... | …... | |
| (2) Annual Fees/Subscriptions | …... | …... | |
| (3) Seminar/Program Fees | …... | …... | |
| (4) Consultancy Fees | …... | …... | |
| (5) Others (Specify) | …... | …... | |
| TOTAL | …... | …... | |
Note - Accounting Policies towards each item are to be disclosed
| (Amount-Rs.) | |||||
| Investment from Earmarked fund | Investment-Others | ||||
| SCHEDULE 15 - INCOME FROM INVESTMENTS | |||||
| (Income on Invest from Earmarked/Endowment Funds transferred to Funds) | Current year | Previous year | Current year | Previous year | |
| (1) Interest | |||||
| (a) On Govt. Securities | ….. | ….. | ….. | ….. | |
| (b) Other Bonds/Debentures | ….. | ….. | ….. | ….. | |
| (2) Dividends | |||||
| (a) On Shares | …... | …... | …... | …... | |
| (b) On Mutual Fund Securities | …... | …... | …... | …... | |
| (3) Rents | …... | …... | …... | …... | |
| (4) Others (Specify) | …... | …... | …... | …... | |
| TOTAL | …... | …... | …... | …... | |
| TRANSFERRED TO EARMARKED / ENDOWMENT FUNDS | …... | …... | |||
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 16 - INCOME FROM ROYALTY PUBLICATION ETC.: | |||
| (1) Income from Royalty | …... | …... | |
| (2) Income from Publications | …... | …... | |
| (3) Others (specify) | …... | …... | |
| TOTAL | …... | …... | |
| (Amount-Rs.) | ||||
| Current Year | Previous Year | |||
| SCHEDULE 17 - INTEREST EARNED: | ||||
| (1) On Term Deposits: | ||||
| (a) With Scheduled Banks | …... | …... | ||
| (b) With Non-Scheduled Banks | …... | …... | ||
| (c) With Institutions | …... | …... | ||
| (d) Others | …... | …... | ||
| (2) On Savings Accounts: | ||||
| (a) With Scheduled Banks | …... | …... | ||
| (b) With Non-Scheduled Banks | …... | …... | ||
| (c) Post Office Savings Accounts | …... | …... | ||
| (d) Others | …... | …... | ||
| (3) On Loans: | ||||
| (a) Employees/Staff | …... | …... | ||
| (b) Others | …... | …... | ||
| (4) Interest on Debtors and Other Receivables | …... | …... | ||
| TOTAL | …... | …... | ||
Note - Tax deducted at source to be indicated
| (Amount-Rs.) | ||||
| SCHEDULE 18 – OTHER INCOME: | ||||
| Current Year | Previous Year | |||
| (1) | Profit on Sale/disposal of Assets: | |||
| (a)Owned assets | …... | …... | ||
| (b)Assets acquired out of grants or received free of cost | …... | …... | ||
| (2) | Export Incentives realized | …... | …... | |
| (3) | Fees for Miscellaneous Services | …... | …... | |
| (4) | Miscellaneous Income Current Year | …... | …... | |
| TOTAL | …... | …... | ||
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 19 - INCREASE/DECREASE) IN STOCK OF FINISHED GOODS & WORK IN PROGRESS: | |||
| (a) Closing stock | |||
| -Finished Goods | …... | …... | |
| -Work-in-progress | …... | …... | |
| (b) Less: Opening Stock | ___ | ___ | |
| -Finished Goods | (…..) | (…..) | |
| -Work-in-progress | (…..) | (…..) | |
| NET INCREASE/(DECREASE) [a-b] | …... | …... | |
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 20 - ESTABLISHMENT EXPENSES: | |||
| (a) Salaries and Wages | …... | …... | |
| (b) Allowances and Bonus | …... | …... | |
| (c) Contribution to Provident Fund | …... | …... | |
| (d) Contribution to Other Fund (specify) | …... | …... | |
| (e) Staff Welfare Expenses | …... | …... | |
| (f) Expenses on Employees Retirement and Terminal Benefits | …... | …... | |
| (g) Others (specify) | |||
| TOTAL | |||
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 21 - OTHER ADMINISTRATIVE EXPENSES ETC.: | |||
| (a) Purchases | …. | …. | |
| (b) Labour and processing expenses | …. | …. | |
| (c) Cartage and Carriage Inwards | …. | …. | |
| (d) Electricity and power | …. | …. | |
| (e) Water charges | …. | …. | |
| (f) Insurance | …. | …. | |
| (g) Repairs and maintenance | …. | …. | |
| (h) Excise Duty | …. | …. | |
| (i) Rent, Rates and Taxes | …. | …. | |
| (j) Vehicles Running and Maintenance | …. | …. | |
| (k) Postage, Telephone and Communication Charges | …. | …. | |
| (1) Printing and Stationary | …. | …. | |
| (m) Travelling and Conveyance Expenses | …. | …. | |
| (n) Expenses on Seminar/Workshops | …. | …. | |
| (o) Subscription Expenses | …. | …. | |
| (p) Expenses on Fees | …. | …. | |
| (q) Auditors Remuneration | …. | …. | |
| (r) Hospitality Expenses | …. | …. | |
| (s) Professional Charges | …. | …. | |
| (t) Provision for Bad and Doubtful Debts/Advances | …. | …. | |
| (u) Irrecoverable Balances Written-off | …. | …. | |
| (v) Packing Charges | …. | …. | |
| (w) Freight and Forwarding Expenses | …. | …. | |
| (x) Distribution Expenses | …. | …. | |
| (y) Advertisement and Publicity | …. | …. | |
| (z) Others (specify) | …. | …. | |
| TOTAL | …. | …. | |
| (Amount-Rs.) | ||
| Current Year | Previous Year | |
| SCHEDULE 22 - EXPENDITURE ON GRANTS, SUBSIDIES ETC. | ||
| (a) Grants given to Institutions/Organisations | …... | …... |
| (b) Subsidies given to Institutions/Organisations | …... | …... |
| TOTAL | …... | …... |
Note - Name of the Entities, their Activities along with the amount of Grants/Subsidies are to be disclosed
| (Amount-Rs.) | |||
| Current Year | Previous Year | ||
| SCHEDULE 23 - INTEREST | |||
| (a) On Fixed Loans | …... | …... | |
| (b) On Other Loans (including Bank Charges) | …... | …... | |
| (c) Others (specify) | …... | …... | |
| TOTAL | …... | …... | |
Schedule 24 - Significant accounts policies (illustrative)
- Accounting Convention
The financial statements are prepared on the basis of historical cost convention, unless otherwise stated and on the accrual method of accounting.
- Inventory Valuation
(1) Stores and Spares (including machinery spares) are valued at cost.
(2) Raw materials, semi-finished goods and finished goods are valued at lower of cost and net realizable value. The costs are based on weighted average cost. Cost of finished goods and semi-finished goods is determined by considering material, labour and related overheads.
3.Investments
(1) Investments classified as "long term investments" are carried at cost. Provision for decline, other than temporary, is made in carrying cost of such investments.
(2) Investments classified as "Current" are carried at lower of cost and fair value. Provision for shortfall on the value of such investments is made for each investment considered individually and not on a global basis.
(3) Cost includes acquisition expenses like brokerage, transfer stamps.
- Excise Duty
Liability for excise duty in respect of goods produced by the entity, other than for exports, is accounted upon completion of manufacturer and provision is made for excisable manufactured goods as at the year-end.
5.Fixed Assets
(1) Fixed Assets are stated at cost of acquisition inclusive on inward freight, duties and taxes and incidental and direct expenses related to acquisition. In respect of projects involving construction, related pre-operational expenses (including interest on loans for specific project prior to its completion), from part of the value of the assets capitalized.
(2) Fixed Assets received by way of non-monetary grants, (other than towards the Corpus Fund), are capitalized at values stated, by corresponding credit to Capital Reserve.
- Depreciation
Depreciation is provided on straight-line method as per rates specified in the Income-tax Act, 1961 except depreciation on cost adjustments arising on account of conversion of foreign currency liabilities for acquisition of fixed assets, which is amortized over the residual life of the respective assets.
Part-III
Receipts and Payments for the Period/Year Ended __________
| (Amount-Rs) | |||||||
| RECEIPTS | Current | Previous | PAYMENTS | Current | Previous | ||
| Year | Year | Year | Year | ||||
| I | Opening Balances | I. Expenses | |||||
| (a) Cash in hand
(b) Bank Balance
(i) In current accounts (ii) In deposit accounts (iii) Saving accounts |
…...
…... …... …... |
…...
…... …... …... |
a)Establishment Expenses (corresponding to Schedule 20) (b) Administrative Expenses (corresponding to Schedule 21) | …... | …... | ||
| …... | …... | ||||||
| II | Granta Received | II Payments made against funds for various projects | |||||
| (a) From Government of India
(b) From State Government (c) From other Source (details) (Grants for capital & revenue exp. To be shown separately |
…... | …... | (Name of the fund or project should be shown along with the particulars of payments made for each project | …... | …... | ||
| …... | …... | ||||||
| …... | …... | ||||||
| III | Income on Investment from | III Investments and deposits made | |||||
| (a) Earmarked/Endow.Funds | …... | …... | (a) out of Earmarked/Endowment funds | …... | …... | ||
| (b) Own Funds (Other Investment) | …... | …... | (b) Out of Own Funds (Investment-Others) | …... | …... | ||
| IV | Interest Received | IV. Expenditure on Fixed Assts & Captial Work-in-Progress | |||||
| (a) On Bank deposits | …... | …... | (a) Purchase of Fixed Assts | …... | …... | ||
| (b) Loans, Advances, etc. | …... | …... | (b) Expenditure on Capital Work-in-Progress | …... | …... | ||
| V | Other Income(Specific) | …... | …... | V. Refund of surplus money/loans | |||
| (a) To the Govt. of India | …... | …... | |||||
| (b) To the State Government | …... | …... | |||||
| (c) To other providers of funds | …... | …... | |||||
| VI | Amount Borrowed | …... | …... | VI. Finance Charges (Interest) | …... | …... | |
| VII | Any other receipts (give details) | …... | …... | VII. Other Payments(Specify) | …... | …... | |
| VIII. Closing Balances | |||||||
| (a) Cash in hand | …... | …... | |||||
| (b) Bank Balance | …... | …... | |||||
| (i) In current accounts | …... | …... | |||||
| (ii) In deposit accounts | …... | …... | |||||
| (iii) Saving accounts | …... | …... | |||||
| TOTAL | …... | …... | TOTAL | …... | …... | ||
Part-IV
Notes and Instructions for Compilation of Financial Statements
- Instructions and Accounts Principles-
(1) The financial statements of non-profit and other similar organizations (viz., Balance Sheet and Income and Expenditure Account) shall be prepared on accrual basis; and shall be in the form suggested, or as near thereto as possible.
If the information required to be given under any of the items or sub-items in this Form cannot be conveniently included in the Balance Sheet or the Income and Expenditure Account itself, as the case may be, it can be furnished in a separate Schedule or Schedules to be annexed to and forming part of the Balance Sheet or the Income and Expenditure Account. This is recommended where item are numerous.
(2) A statement of all significant accounting policies adopted in the preparation of the Balance Sheet and the Income and Expenditure Account shall be included in the financial statements, and the significant Accounting Policies should be disclosed at one place. Accounting Policies refer to the specific accounting principles and the method of applying those principle adopted by the Entity in the preparation conformity with accounting standards, and the effect of departures from accounting standards is material, the particulars of the departure shall be disclosed, together with the reasons therefore and the financial effect thereof, except where such effect is not ascertainable.
(3) Accounting policies shall be applied consistently from one financial year to the next. Any change in the accounting policies which has a material effect in the current period or which is reasonably expected to have a material effect in latter periods, shall be disclosed. In case of a change in accounting policies which has a material effect in the current period, the amount by which any item in the financial statements is affected by such change, shall also be disclosed to the extent ascertainable. Where such amount is not ascertainable, wholly or in part the fact shall be disclosed.
(4) The accounting treatment and presentation in the Balance Sheet and the Income and Expenditure Account, of transactions and events shall be governed by their substance and not merely by the legal form.
(5) In determining the accounting treatment and manner of disclosure of an item in the Balance Sheet and / or the Income and Expenditure Account, due consideration shall be given to the concept of materiality.
(6) Provision shall be made for all known liabilities and losses even though the amount cannot be determined with substantial accuracy (and the amount of provision represents only a best estimate in the light of available information).
'Provision' means any amount written off or retained by way of providing for depreciation, renewals or diminution in value of assets, or retained by way of providing for any known liability, the amount of which cannot be determined with substantial accuracy.
Provision shall be made for contingent loss if:
(a) it is probable that future events will confirm that, after taking into account any related probable recovery, an asset has been impaired or a liability has been incurred at the balance sheet date, and
(b) a reasonable estimate of the amount of the resulting loss can be made.
If either of the above conditions is not met, the existence of the contingent loss shall be disclosed by way of a note to the Income and Expenditure account, unless the possibility of the loss is remote.
(7) Where any amount written off or retained by way of providing for depreciation, renewals or diminution in the value of assets or retained by way of providing for any known liability is in excess of the amount which is considered reasonably necessary for the purpose, the excess shall be treated as a reserve and not as a provision.
(8) Revenue shall not be recognized unless:
(a) the related performance has been achieved;
(b) no significant uncertainty exists regarding the amount of the consideration; and
(c) it is not unreasonable to expect realization and ultimate collection.
(9) Separate disclosure shall be made in the Income and Expenditure Account in respect of:
(a) "Prior period" items, which comprise material items of income or expenses which arise in the current period as a result of errors or omissions in the preparation of the financial statements of one or more prior periods.
(b) "Extra-ordinary" items, which are material items of income or expenses that arise from events or transactions that are clearly distinct from the ordinary activities of the entity and, therefore, are not expected to recur frequently or regularly.
(c) Any item under the head "Miscellaneous Income" which exceeds 1 per cent of the total turnover/gross income of entity or Rs. 50,000/-, whichever is higher. This shall be shown against an appropriate account head in the Income and Expenditure Account.
(d) Any item under the head "Miscellaneous Expenses" which exceeds 1 per cent of the total turnover/gross income of entity or Rs. 50,000/-, whichever is higher. This shall be shown as a separate and distinct item against an appropriate account head in the Income and Expenditure Account.
(10) The Schedules referred to in the form, the accounting policies and explanatory notes shall form an integral part of the financial statements.
(11) Notes to the Balance Sheet and the Income and Expenditure Account shall contain the explanatory material pertaining to the items in the Balance Sheet and the Income and Expenditure Account.
(12) The figures in the Balance Sheet and Income and Expenditure Account, if rounded off, shall be rounded off as below:
| Amount of turnover (in Rs.) | Rounding off to (Rs.) |
| Less than One lakh | Hundred |
| One lakh or more but less than one crore | Thousand |
| One crore or more but less than one hundred crore | Lakh |
| One hundred crore or more but less than one thousand crore | Crore |
(13) Reference may also be made to the enclosed Notes and Instructions for compilation in relation to in the formats suggested.
- Corpus/Capital Fund and Liabilities.-
Schedule I - Corpus/Capital Fund
(a) Corpus/Capital Fund is a kin to Capital, Share Capital or Owners Funds. It comprises amounts received by way of contributions specifically to the Corpus, as increased/decreased by the net operating results shown in the Income and Expenditure Account (other than surplus, if any, transferred to any Reserves or Earmarked Funds).
(b) The Opening Balance, Additions to, Deductions from and the Closing Balance of the Corpus/Capital Fund shall be shown under this head.
(c) Additions to the Corpus shall be net of transfers, if any, to any Reserve or Earmarked fund required under statute or as per applicable regulations.
| SCHEDULE 2 – RESERVES AND SURPLUS | ||
| (1) | CAPITAL RESERVES | The expression 'capital reserves' shall not include any amount regarded as free for distribution through the Income and Expenditure Account. Surplus on revaluation should be treated as Capital Reserves and shown separately. Surplus on translation of financial statements of foreign branches, if any, is not a revaluation reserve. |
| ∙ Opening balance ∙ Additions during the year ∙ Deductions during the year | ||
| (2) | REVALUATION RESERVE : | To reflect effects of changing prices, fixed assets otherwise stated at historical costs, are revalued and the historical cost substituted by a revaluation, normally done by competent valuers. Such substitution resulting in an upward revaluation is required to be shown as a "Revaluation Reserve". This reserve is an unrealized gain and should not be credited as income in the Income and Expenditure Account. |
| ∙ Opening balance ∙ Additions during the year ∙ Deductions during the year | ||
| (3) | SPECIAL RESERVES (S) : | These would comprise special reserves requires to be created pursuant to any statutory or regulatory requirement applicable to the Entity, and if, so should be clarified in the Notes on Accounts in Schedule 27. |
| ∙ Opening balance ∙ Additions during the year ∙ Deductions during the year | ||
| (4) | GENERAL RESERVE : | The expression "General Reserve" shall mean any reserve other than capital reserve and revaluation reserve.
This item will include all reserves, other than those separately classified. |
| ∙ Opening balance ∙ Additions during the year ∙ Deductions during the year | ||
Notes-General
(a) Movements in various categories of reserves should be shown as indicated in the schedule.
(b) The expression "reserve" shall not include any amount written off or retained by way of providing for depreciation, renewals or diminution in value of assets or retained by way of providing for any known liability
Schedule 3 - Earmarked/Endowment Funds
Amounts received as grants or assistance, or retained by the entity to be utilized for specific or earmarked purposed and remaining to be extended/utilized for the specific purpose for which these are intended, are required to be disclosed under this head. Such funds may be received in cash or kind from Government, Govt. agencies, institution and other agencies etc. and are subject to compliance by the entity, of certain stipulated terms and conditions. For this reason, the balances available and their utilization should be disclosed in the manner suggested in the Schedule. The Plan Funds received from the Central and / or State Government are to be shown as distinct category of Fund.
Other plan funds earmarked/endowed for any chair, house, building, Trust etc. are to be shown as distinct category Fund.
The following shall not be reckoned as part of Earmarked Funds :
(a) Grants/funds which have the characteristics of promoter's contribution which are of the nature of additions/accretion to the Corpus Fund;
(b) Funds/grants received by the Entity as compensation for expenditure/losses incurred in the earlier years, as these would be reckoned only in the Income and Expenditure Account for the year.
(c) Non-monetary grants by way of capital assets or other resources, corresponding credit of which is of the nature of capital reserve, unless such grant such specified as irrevocable contribution to the Corpus.
Notes-General
(a) It is appropriate to ensure that the accretion to and utilization of earmarked funds is in accordance with the terms and conditions attaching to the same.
(b) Earmarked, Funds, considering their nature, are represented by specifically earmarked investments or other assets.
(c) Plan Funds received from the Central/State Governments are to be shown as separate Funds and not to be mixed up with any other Funds.
(d) Records relating to fixed assets acquired/constructed should be maintained for each earmarked funds. However, for the purpose of the annual financial statements disclosure may be made of the aggregate accumulated cost up to each year and of such fixed assets in respect of each fund, unless the assets are taken over and are incorporated in Schedule 8.
Schedule 4 - Secured Loans and Borrowings
| 1. | Central Government | Indicated the nature of security and terms of repayment. |
| 2. | State Government | Indicate the name of State and nature of security and terms of repayment. |
| 3. | Financial Institutions | Includes borrowings/refinance obtained from Industrial Development Bank of India, Export-Import Bank of India, National Bank for Agriculture and Rural Development (including liability against participation certificates, if any). Normally these may be in the form of Term Loans. |
| 4. | Banks | Includes borrowings/refinance obtained from commercial banks (including co-operative bank). |
| (a) Term Loans | Term Loans need to be segregated from other facilities. | |
| (b) Other Loans | ||
| 5. | Other institutions & agencies | Includes institutions/agencies other than those mentioned above |
| 6. | Debentures and Bonds | The terms of redemption of debentures and bonds should be stated with the earliest date of their redemption. |
Notes-General
(a) Information shall be given in each case as regards the nature of security given.
(b) Secured Loans and borrowings shall be such as are against hypotecation/pledge/charge on the assets of the entity.
(c) The Aggregate amount of loans under each head, as are guaranteed by the Central/State Govt. may also be mentioned along with the fact that these are so guaranteed.
(d) Loans and borrowings include refinance from Institutions and agencies and liability against participation certificates.
(e) Amounts received by way of discount of debtors or receivables or rediscount of bills, shall not be shown as borrowings.
(f) Interest accrued and due shall be included under each sub-head. Interest accrued but not due shal1 not be included under this head, but shall be shown as part of Current Liabilities.
(g) Unreconciled Inter-branch outstanding entries at credit should not be shown as borrowings.
(h) Amounts due within a period of less than 12 months as at the Balance Sheet date need to be disclosed.
Schedule 5 - Unsecured Loans and Borrowings
| 1. | Central Government | Indicate the tenns of repayment. |
| 2. | State Government(s) | Indicate name of the State Government and the tenns of repayment. |
| 3. | Financial Institutions | Includes borrowings obtained from Industrial Bank of India. Export-Import Bank of India, National Bank for Agriculture and Rural Development. |
| Normally these may be in the form of Term Loans. Pending creation of a charge on assets, bridge loans may be given as 'unsecured' Loans. | ||
| 4. | Banks | Includes borrowings obtained from Commercial Banks (including cooperative Banks). |
| Indicate the nature of facilities | ||
| Overdrawn balances as per books do not constitute loans and generally arise due to cheques issued in excess of book balance. Such balances can be shown as loans only where the Entity enjoys or is granted overdraft facility. | ||
| 5. | Other Institutions and Agencies | Includes Loans from Institutions/ Agencies other than those mentioned above. |
| 6. | Debentures and Bonds | The terms of redemption of Debenture and Bonds should be stated with the earliest date of their redemption. |
| 7. | Fixed Deposits | These comprise deposits received from Public or otherwise for fixed periods and against no security. |
Notes-General
(a) Unsecured loans and borrowings comprise amounts in respect of which no assets of the entity is charged as security or encumbered.
(b) Interest accrued and due shall be included under each sub-head. Interest accrued but not due shall not be included under this head, but shall be shown as part of current liabilities.
(c) Amount due within a period of less than 12 months as at the Balance Sheet date need to be disclosed.
Schedule 6 - Deferred Credit Liabilities
(1) Acceptance and other similar long-term obligations contracted in respect of acquisition of assets, the liability for payment of which falls in periods longer than 12 months as at the date of the Balance Sheet should be included here.
(2) If the assets are charged as security or encumbered corresponding to the liability, this fact should be stated.
(3) If the acceptances are also guaranteed for repayment by the Government, any Govt. Agency, Bank, Institution or other body/entity, this fact should also be stated.
(4) Amounts due within one year of the date of the Balance Sheet need to be separately disclose .
| SCHEDULE 7 - CURRENT LIABLITIES AND PROVISIONS | ||
| A. CURENT LIABILITIES | ||
| 1. | Acceptances | Include under this sub-head would be the drawer's assent on bills of exchange to the order of the drawer. |
| 2. | Sundry Creditors
(a) For Goods (b) Others |
The amounts to be shown against this sub-head shall comprise amounts owed by the entity in favour of others on account of goods purchased or services rendered or in respect of contractual obligations. These need to be segregated for goods and shown separately. |
| 3. | Advances Received | The liability against this sub-head shall comprise amounts received in respect of which goods or services have yet to be supplied/rendered or for which value has yet to be given and includes advance subscriptions. |
| 4. | Interest accrued but not due
(a) Secured Loans/Borrowings (b) Unsecured Loans/Borrowings |
/Includes interest accrued up to the year-end but not due on secured/unsecured loans and borrowings. |
| 5. | Statutory Liabilities
(a) Overdue (b) Others |
These comprise liabilities in the terms of the Central/State laws governing the Entity; end includes unpaid liability for tax deducted at source under the Income Tax Act, 1961, statutory bonus, provident fund, pension, gratuity, ESI, interest to SSI Units on their overdue, sales tax, excise, customs duty, and other statutory levies. |
| Overdue liabilities are undisputed amounts which are due and remain unpaid beyond the normal due date/stipulated period i.e. those are in default | ||
| 6. | Other Current Liabilities | These would include amounts not covered by the other sub-heads. Any material amount included under this sub-head may be separately shown indicating the nature thereof. |
| Overdrawn bank balance as per books, where the entity does not have any sanctioned limits/overdraft facilities shall also be included under this sub-head, or separately disclosed as "Overdrawn bank balance in excess of book balances". | ||
Notes-General - A Current Liability is one which falls due for payment within a relatively short period, normally not more than 12 months.
| SCHEDULE 7 - CURRENT LIABILITIES AND PROVISIONS | ||
| B. PROVISIONS | ||
| 1 | For Taxation | Provision needs to be made and retained based on the status of Tax matters as at the year-end. |
| 2 | Gratuity | Provision for liability towards gratuity payable on death/retirement of employees needs to be accrued on contractual basis, and provided upto the year-end. |
| 3 | Superannuation/Pension | Provision for liability payable towards superannuation of employees needs to be accrued on actuarial basis, and provided upto the year-end |
| 4 | Accumulated Leave | Provision for liability towards accumulated leave encashment of employees needs to be accrued on actuarial basis, and provided upto the year end. |
| 5 | Trade Warranties/Claims | Where the entity is manufacturing/processing goods for sale, it may be liable to trade warranty risks, which need to be provided for on a reasonable/rational basis. |
| 6 | Others | These need to be specified, and shall not include provision for doubtful debts/advances, which shall be reduced from the relevant asset heads. |
Notes-General - Provision is an amount written off or retained by way of providing for depreciation or diminution in the value of assets, or retained by way of providing for a known liability, the amount of which cannot be determined with substantial accuracy.
- Assets.-
| SCHEDULE 8-FIXED ASSETS | ||
| (1) | LAND | |
| (a) Freehold | Where immovable properties are purchased/acquired by paying a composite cost, a reasonable/reliable estimate should be made of the land cost and shown separately | |
| (b) Leasehold | Leasehold land should be amortised over the period of lease unless the lease is in perpetuity. | |
| (2) | BUILDINGS | |
| (a) On freehold land | As far as practicable, distinction may be made between factory and office buildings for purpose of provision for depreciation at different rates. | |
| (b) On leasehold land | Buildings/premises shall be those which are intended to be wholly/partly used for the purposes of the activities of the Entity and would not include "Investment Properties". | |
| (c) Ownership Flats/Premises | Superstructures on leasehold lands should be depreciated to be co-terminus with the amortisation of land, unless the superstructures have a shorter life. | |
| (d) Superstructures on Land not belonging to the Entity | Buildings shall include roads, bridges, and culverts. | |
| (3) | PLANT MACHINERY AND EQUIPMENT | Included under this Sub-head would be items like : |
| -Earth moving Machinery | ||
| -Boilers | ||
| -Furnaces | ||
| -Generators | ||
| -Dyes/Mould | ||
| -Machinery used for specific industry/service like Building contractors, in hospital/clinics, processing units, hydraulic works (including pipelines), Tool rooms | ||
| -Other items used for manufacture/processing etc. | ||
| Separate Accounts heads should be maintained in the ledgers and kept reconciled with the Fixed Assets registers Disclosure of information under the above sub-heads is encouraged. | ||
| (4) | VEHICLES | Included under this sub-head would be items like: |
| -Tractors/Trailers | ||
| -Trucks, Jeeps and Vans | ||
| -Motor Cars | ||
| -Motor Cycles, Scooters, Three Wheelers and Mopeds | ||
| -Rickshaws | ||
| Separate Account heads should be maintained in the ledgers and kept reconciled with the Fixed Assets registers. Disclosure of information under the above sub-heads is encourage. | ||
| (5) | FURNITURE, FIXTURES | Included under the above sub-head would be items like : |
| (a) Cabinets/Almirahs/Filing Racks | ||
| (b) Air-conditioners/Air conditioning Plant | ||
| (c) Air Coolers | ||
| (d) Water Coolers | ||
| (e) Tables/Chairs/Sofas/Carpets | ||
| (f) Wooden partitions/temporary structures | ||
| (g) Voltage Stabilisers, UPS Systems | ||
| (h) Other Items | ||
| Separate Account heads should be maintained in the ledgers and kept reconciled with the Fixed Assets registers. Disclosure of information under the above sub-heads is encouraged, for material amounts. | ||
| (6) | OFFICE EQUIPMENT | Included under the above sub-head would be items like: |
| (a) Typewriters | ||
| (b) Photocopies/duplicators | ||
| (c) Fax Machines | ||
| Separate Account heads should be maintained in the ledgers and kept reconciled with the Fixed Assets registers. | ||
| Disclosure of information under the above sub-heads is encouraged, for material amounts. | ||
| (7) | COMPUTER/PERIPHERALS | Computers, Printers and their peripherals like the Floppies, CDs, Software, etc. would be the items under this Head. |
| Separate Account heads should be maintained in the ledgers and kept reconciled with the Fixed Assets registers.Disclosure of information under the above sub-heads is encouraged, for material amounts. | ||
| (8) | ELECTRIC INSTALLATIONS | Included under the above sub-head would be items like: |
| (a) Electrical Machinery | ||
| (b) Electric Lights/Fans | ||
| (c) Switch gear instruments | ||
| (d) Transformers | ||
| (e) Electric Wiring and fittings | ||
| Separate Account heads should be maintained in respect of the above items and kept reconciled with the Fixed Assets registers. Disclosure information under of the above sub-heads is encouraged for material amounts. | ||
| (9) | LIBRARY BOOKA | In some cases the number of Library Books could be very large or there may be an established Library. In such cases these books may be disclosed as a separate category of assets. Library books will include books/journals/information stored in CD ROMs. |
| (10) | TUBEWELLS AND WATER SUPPLY SYSTEM | Tubewells and Water Supply Systems may be shown as a distinct category. |
| (11) | CAPITAL WORK-IN-PROGRESS | Fixed assets in the course of construction should be shown against this head till they are ready for their intended use. Plant, machinery and equipment acquired and pending installation should also be included here. |
Notes-General
- Fixed Assets are those assets which are held with the intention of being used for the purpose of producing or providing services and not held for sale in the normal course of trade.
- Under each sub-head should be shown:
(a) the cost or the valuation as at the beginning of the year.
(b) additions during the year (both acquisitions and by way of grants).
(c) deductions (including sales, disposals, write-offs) during the year.
(d) the total cost/valuation as at the year-end.
(e) depreciation upto the previous year-end, that on additions/deductions during the year and the total accumulated depreciation upto the year-end.
(f) the net block of the assets as the year-end.
- The accounting policy relating to accounting for fixed assets acquired (including by way of grants or at concessional rates); or constructed should be disclosed along with the method adopted for depreciation/amortization.
- Where sums have been written up for any assets due to their revaluation, the basis thereof should be disclosed; and every balance sheet after the first Balance Sheet subsequent to the revaluation should show the revised figures for a period of five years with the date and amount of revision.
- Where grants relating to specific fixed assets are received and these are equal to the whole or virtually the whole of the cost of the asset, the Fixed Assets should be shown in the Balance Sheet at a nominal value.
Alternatively, grants relatable to depreciable fixed assets may be treated as deferred income and recognized in the Income and Expenditure Account on a systematic and rational basis over the useful life of such assets i.e. such grants should be allocated to income over the periods and in the proportions in which depreciation is charged.
Grants relatable to non-depreciable assets should be credited to "Capital Reserve", unless there are pre-conditions, requiring fulfillment.
- Depreciation
Depreciation shall be provided so as to charge the depreciable amount of a depreciable asset over its useful life.
Depreciation is a measure of the wearing out, consumption or other loss of value of a depreciable asset arising from use, effluxion of time or obsolescence through technology and market charges. It includes amortisation of assets the useful life of which is determined and depletion of wasting assets.
For this purpose:
(a) depreciable asset means an asset which-
(i) is expected to be used during more than one accounting period, and
(ii) has a limited useful life; and
(iii) is held by the entity for use in the production or supply of goods and services, for rental to others, or for administratively purpose and not for the purpose of sale in the ordinary course of its business/operating activities.
(b) depreciable amount of a depreciable asset means its original cost, or other amount substituted for original cost in the financial statements less the residual value;
(c) useful life means either-
(i) the period over which a depreciable asset is expected to be used by the Entity, or
(ii) the number of production or similar units expected to be obtained from the use of the asset by the Entity.
| SCHEDULE 9 - INVESTMENTS-FROM EARMARKED/ENDOWMENT FUNDS: | ||
| 1. | Government Securities | Includes Central and State Government securities and Government Treasury Bills. |
| These securities should be shown at cost/book value. However, the difference between such value and market value should be given in the notes to the Balance Sheet. | ||
| 2. | Other approved Securities | Securities other than Government Securities, treated as approved securities (such as Trustee securities), should be included here. |
| 3. | Shares | Investments in shares of companies and corporations not included in item 2 should be included here. |
| 4. | Debentures and Bonds | Investments in debentures and bonds of companies and Corporations not included in item 2 should be included here. |
| 5. | Subsidiaries and/or joint ventures | Investments in subsidiaries/associate entities should be included here. An entity shall be treated as a 'subsidiary' or joint venture, if the entity exercises control over the composition of management/governing body, with or without any financial investment therein. |
| An entity will be considered as subsidiary for the purpose of this classification if more than 25% of the corpus of that entity is held by the entity as at the beginning of the year. | ||
| 6. | Others (to be specified) | Includes residual investments, if any, like commercial paper, investments (to be specified) in Mutual Funds and other instruments not being in the nature of shares/debentures/bonds. Investment in Properties, if any, would also be included here. |
Notes-General
- The Gross value in aggregate, the depreciation in aggregate and net value of Investments are to be separately disclosed. Approved securities [covered by 1 and 2 above] are required to be bifurcated into "permanent" and "current" categories for valuation and determination of shortfall in value.
- (a) Investments can either be "Long term" or "permanent" or "Current".
(b) "Current Investment" means as investment which is by its very nature, readily reaizable is intended to be held for not more than one year from the date on which it is made.
Such investments should be shown at lower of cost or their fair value, which shall be determined on individual investment basis and the shortfall shall be provided, while appreciation shall be ignored.
(c) Long term investments are those investments which other than current investments, and these are intended to be held for the purposes of capital appreciation and yield.
Such investments are held at cost and shall be reduced when there is a decline, other than temporary, in their value reduction being made for each investment.
- Investments held against earmarked/endowment funds need to be separately disclosed.
- Investment in properties, if held, shall be shown at cost less depreciation in the same manner as in the case of fixed assets.
- The entity shall disclose the Accounting Policy in relation to investments, their cost, depreciation and carrying value both for long term and current investments.
- Any premium paid on acquisition of permanent investments shall be amortised on a time proportion basis upto the date of their maturity. Discount on acquisition shall not be amortised.
- Matured investments, not realized may be separately disclosed.
| SCHEDULE 10 INVESTMENTS-OTHERS : | ||
| 1. | Government Securities | Includes Central and State Government securities and Government Treasury Bills. |
| These securities should be shown at cost/book value. However, the difference between such value and market value should be given in the notes to the Balance Sheet. | ||
| 2. | Other approved Securities | Securities other than Government Securities, treated as approved securities (such as Trustee securities), Should be included here. |
| 3. | Shares | Investments in shares of companies and corporations not included in item 2 should be included here. |
| 4. | Debentures and Bonds | Investments in debentures and bonds of companies and Corporations not included in item 2 should be included here. |
| 5. | Subsidiaries and/or joint ventures | Investments in subsidiaries/associate entities should be included here. An entity shall be treated as a 'subsidiary' or joint venture, if the entity exercises control over the composition of management/governing body, with or without any financial investment therein. |
| An entity will be considered as subsidiary for the purpose of this classification if more than 25% of the corpus of that entity is held by the entity as at the beginning of the year. | ||
| 6. | Others | Includes residual investments, if any, like commercial paper, investments (to be specified) in Mutual Funds and other instruments not being in the nature of shares/debentures/bonds. Investment in Properties, if any, would also be included here. |
Notes-General
- The Gross value in aggregate, the depreciation in aggregate and net value of Investments are to be separately disclosed. Approved securities [covered by 1 and 2 above] are required to be bifurcated into "permanent" and "current" categories for valuation and determination of shortfall in value.
- (a) Investments can either be "Long term" or "permanent" or "Current".
(b) "Current Investment" means as investment which is by its very nature, readily realizable and is intended to be held for not more than one year from the date on which it is made.
Such investments should be shown at lower of cost or their fair value, which shall be determined on individual investment basis and the shortfall shall be provided, while appreciation shall be ignored.
(c) Long term investments are those which other than current investments, and these are intended to be held for the purposes of capital appreciation and yield.
Such investments are held at cost and shall be reduced when there is a decline, other than temporary, in their value reduction being made for each investment.
- Investments held against earmarked/endowment funds are disclosed in Schedule 9.
- Investment in properties, if held, shall be shown at cost less depreciation in the same manner as in the case of fixed assets.
- The entity shall disclose the Accounting Policy in relation to investments, their cost, depreciation and carrying value-both for long term and current investments.
- Any premium paid on acquisition of permanent investments shall be amortised on a time proportion basis upto the date of their maturity. Discount on acquisition shall not be amortised.
- Matured investments, not realized may be separately disclosed.
| SCHEDULE 11 CURRENT ASSETS, LOANS, ADVANCES ETC: | |||
| A. CURRENT ASSETS: | |||
| 1. | Inventories: | Inventories comprise tangible property held for sale in the ordinary course of business, or in the process of production for such sales, or for consumption in the production of goods or services for sale, including maintenance supplies and consumables | |
| (a) Stores and Spares | |||
| (b) Loose Tools | |||
| (c) Stock-in-trade | Basis of valuation of inventories should be disclosed | ||
| - Finished Goods | Finished goods would include goods purchased/produced and lying in hand at all locations of the entity. | ||
| -Work-in-progress | |||
| -Raw Materials | Raw materials would also include parts or components used or consumed in the process of production of goods for sale. | ||
| 2. | Sundry Debtors: | Debtors comprise persons from whom amounts are due for goods sold or services rendered or in respect of contractual obligations. | |
| (a) Debts Outstanding for a period exceeding six months | |||
| (b) Others | Debts considered good for recovery and those considered doubtful shall be shown separately. Provision for doubtful debts, if made, should be shown as a reduction from the amount of debts considered doubtful. | ||
| 3. | Cash balance in hand :
(including cheques/drafts and imprest) |
||
| 4. | Bank Balance | Amounts held as bank balances against earmarked/endowment funds should be separately disclosed. | |
| (a) With Scheduled Banks | Where any deposit accounts are pledged or charged as security or are encumbered, the fact should be disclosed. | ||
| -On Current Accounts | |||
| -On Deposit Accounts (includes margin money) | Overdue/Matured Deposits should be separately disclosed. | ||
| -On Savings Accounts | |||
| (b) With Non-Scheduled Banks | |||
| -On Current Accounts | |||
| -On Deposit Accounts | |||
| -On Savings Accounts | |||
| 5. | Post Office-Saving Accounts : | ||
| B. LOANS, ADVANCES AND OTHER ASSETS : | |||
| 1. | Loans | Loans and advances as are considered good and recoverable should be disclosed. Doubtful amounts, if any, should be stated under each sub-head, and provision, if made, should be shown as a reduction therefrom. | |
| (a) Staff | Interest accrued on interest bearing staff loans should be accounted notwithstanding that actual recoveries of interest might commence after repayment of principal. | ||
| (b) Other Entities engaged in activities/objectives similar to that of the Entity | Irrevocable grants/subsidies/donation to such entities shall not be included here. If interest-bearing, the amount of interest earned upto the year-end should be adjusted. | ||
| (c) Other (specify) | |||
| 2. | Advances and other amounts recoverable in cash or in kind or for value to be received: | ||
| (a) On Capital Account | Advances to suppliers/contractors for capital works should be shown against this sub-head | ||
| (b)Prepayments | This includes prepaid expenses. | ||
| (C)Others | This would comprise receivables other than the debtors. | ||
| 3. | Income Accrued | Both "Income accrued and due" and Income accrued but not due upto the year-end should be included under this head. | |
| (a) On investments from Earmarked/Endowments Funds | Income on Investment from Earmarked/ Endowments Funds and that on Other Investment should be shown separately | ||
| (b) On Investments-Others | |||
| (c) On Loans and Advances | |||
| (d) Others (includes income due unrealised Rs...) | If uncertainty attaches to realization or ultimate collection, income should not be recognized, and if recognized should be provided for. | ||
| Dividends should be recognized based on the daw(s) of their declaration. | |||
| Separate disclosure should be made in respect of income accrued, due but not realized. | |||
| 4 | Claims Receivable | Only claims, which are considered good and realizable, should be included. | |
- Income And Expenditure Account - Income.-
| SCHEDULE 12 INCOME FROM SALES/SERVICES | ||
| INCOME FROM SALES: | ||
| (1) | Income from Sales | Sales comprise the aggregate amount for which sales are effected. These would be shown net of trade discounts, rebate and returns. |
| (a) Sale of Finished Goods | ||
| (b) Sale of Raw Material | ||
| (c) Sale of Scraps | ||
| Sales are complete when significant risks and rewards of ownership get transferred from the seller to the buyer, irrespective of the time of payment or delivery of the goods. | ||
| Disclosure of export sales should be made separately. | ||
| (2) | Income from Services | Income must be shown at gross figures and Tax Deducted at Source should be indicated separately. |
| (a) Labour and Processing Charges | Labour and processing charges realizable for processing/fabrication of goods/materials of other entities should be disclosed against this sub-head. | |
| (b) Professional/Consultancy Services | Consultancy charges and fee for rendition of professional services by the entity should be included under this sub-head. | |
| (c) Agency Commission and Brokerage | Where the Entity acts as a broker or agent for arranging supply of goods/services of others, i.e. without acting on a principal to principal basis, the commission and brokerage income earned would be shown against this sub-head. | |
| (d) Maintenance Service (Equipment/Property) | Where the Entity undertakes maintenance contracts for equipment or property etc. the income earned upto the year-end from this source should be included under this sub-head. | |
| (e) Others (specify) | ||
| SCHEDULE 13 - GRANTS / SUBSIDIES: | ||
| (Irrevocable Grants & Subsidies Received) | ||
| (1) | Central Government | Grants, Subsides or other similar assistance received for the general purposes and objectives of the Entity on an irrevocable basis, or to cover expenditure incurred in prior periods, shall be included in this Schedule. |
| (2) | State Government(s) | |
| (3) | Government Agencies | These grants etc. are without any conditions attached as to their utlization and are of the nature of non-refundable amounts which are to be appropriated to income. |
| (4) | Institutions/Welfare Bodies | |
| (5) | International Organizations | The gross receipts shall be shown against each sub-head and grants/subsidies which are given in turn to other institutions/organizations on irrevocable basis, as expenditure should be considered in Schedule 22. |
| (6) | Others (Specify) | |
| SCHEDULE 14 - FEES/SUBSCRIPTIONS : | ||
| (1) | Entrance Fees | Accounting policies on each item will have to be disclosed. |
| (2) | Annual Fees/Subscriptions | In case the Fees like Entrance Fee, Subscriptions etc. are in the nature of capital receipts, such amount should go to the Corpus/Capital Fund. Otherwise such fees will be incorporated in this schedule. |
| (3) | Seminar/Program Fees | |
| (4) | Consultancy Fees | In case the major activities or the Entity are to organize seminar/workshop and/or provide consultancy services, such income should form part of the Schedule 12. |
| (5) | Others (Specify) | The gross receipts should be shown here Expenditure incurred on seminar/workshops, consultancy etc. should be shown as 'other administrative expenses' in the schedule 21. |
| SCHEDULE 15 - INCOME FROM INVESTMENTS | |||||
| 1. | Interest | 1 | Income from Investments shall be disclosed at gross figures and tax deducted at source is to be stated separately. | ||
| (a) on Govt. Securities | 2 | Interest on Govt. securities shall comprise | |||
| a) | interest earned at coupon rate upto the last applicable date of interest, I.e. interest accrued & due; and | ||||
| b) | interest accrued thereafter upto the year. end at the coupon rate. | ||||
| (b) other Bonds/Debentures | 3 | Income on bonds and debentures would include discount accrued upto the year-end on bonds issued at a discount, to be redeemed at par or on premium, based on the terms of their issue. | |||
| 2. | Dividends
(a) on Shares (b) on Mutual Fund Securities |
4 | Dividends. shall be accrued, based on the dates of declaration thereof i.e. when the entity has a right to receive the same. | ||
| 3. | Rents | 5 | Rents shall be shown as income on Investment on properties, if any. | ||
| 4. | Others (Specify) | 6 | Interest claimed on overdue/matured investments shall not be recognised unless pre conditions for such recognition are satisfied. | ||
| 7 | Distinction should be made in respect of income on Investment : | ||||
| (a) | owned by the Entity; and | ||||
| (b) | those held against earmarked/endowment funds | ||||
| 8 | At eh year-end total of the income on investment from earmarked/endowment funds should be transferred to the Funds through Schedule 3. | ||||
| SHEDULE 16 - INCOME FROM ROYALTY PUBLICATION ETC. : | ||
| (1) | Income from Royalty | Accoimling policies on each Item will have to be disclosed. |
| (2) | Income from Publication | In case the major activities of the Entity are to publish books, journals, documents etc., such income should form part of the Schedule 12. |
| (3) | Others (Specify) | |
| The gross receipts should be shown here Expenditure incurred on publication etc. should be shown as other administrative expenses in the schedule 21. | ||
| SCHEDULE 17 INTEREST EARNED : | |||
| 1. | On Term Deposits : | 1. | Interest income earned should be shown at gross figures and tax deducted at source is to be stated separately. |
| (a)With Scheduled Banks | |||
| (b)With Non-Scheduled Banks | |||
| (c)With Institutions | |||
| (d)Others | |||
| 2. | On Savings Accounts: | 2. | Distinction should be made in respect of income; |
| (a) With Scheduled Banks | (a) on assets owned by the Entity; and | ||
| (b) With Non-Scheduled Banks | (b) those held against eannarked/endowment funds; | ||
| (c) Post Office Saving Accounts | |||
| (d) Others | |||
| 3. | On Loans : | ||
| (a) Employees/Staff | |||
| (b) Others | |||
| 4. | Interest on Debtors and Other Receivables | ||
| SCHEDULE 18 OTHER INCOME: | ||
| 1. | Profit on Sale/Disposal of Assets | Sales proceeds/realization, net of the book value of the assets shall, if a surplus, be included under this sub-head |
| 2. | Export Incentives realized | Export incentives claimed and not realized upto the year-end shall not be included in Income. |
| 3. | Fees for Miscellaneous Services | Items of material amounts included in Miscellaneous Income should be separately disclosed. |
| 4. | Miscellaneous Income | |
| SCHEDULE 19 INCREASE/(DECREASE)IN STOCK OF FINISHED GOODS & WORK-IN-PROGRESS: | ||
| (a) | Closing stock
- Finished Goods - Work-in-progress |
Accounting policies regarding valuation of stock should be declared. |
| (b) | Less : Opening Stock | |
| - Finished Goods | ||
| - Work-in-progress | ||
- Income And Expenditure Account - Expenditure:
| SCHEDULE 20 - ESTABLISHMENT EXPENSES: | ||
| (a) | Salaries and Wages | The gross expenditure against each head including in respect of staff on deputation should be disclosed |
| (b) | Allowance and Bonus | |
| (c) | Contribution to Provident Fund | |
| (d) | Contribution to Other Fund (specify) | Statutory obligations of the Entity towards provident fund, Employees state insurance retirement benefits etc. should be disclosed clearly and item-wise. |
| (e) | Staff Welfare Expenses | |
| (f) | Expenses on Employees Retirement and Terminal Benefits | In case of recoveries like fines, penalties etc. the same should not be deducted from the expense heads but included under 'Other Income ' in the Schedule 18. |
| (g) | Others (specify) | |
Notes-General
Prior period items
Prior period and Extraordinary Items shall be separately disclosed so that the effect thereof on the Expenditure for the year is known.
| SCHEDULE 21 OTHER ADMINISTRATIVE EXPENSES ETC. | ||
| (a) | Purchases | The gross expenditure against each head should be disclosed |
| (b) | Labour and processing expenses | In case of recoveries e.g. rent recoveries, freight charges recovered, fines, penalties, damages from suppliers etc., the amount of such recoveries should not be deducted from the expense heads but included under "Schedule 16- "Other Income". |
| (c) | Cartage and Carriage Inwards | |
| (d) | Electricity and power | |
| (e) | Water charges | |
| (f) | Insurance | Prior period and Extraordinary items shall be separately disclosed so that the effect thereof |
| (g) | Repairs and maintenance on the net Expenditure for the year is known | |
| (h) | Excise Duty | |
| (i) | Rent, Rates and Taxes | |
| (j) | Vehicles Running and Maintenance | The list of heads is not exhaustive but illustrative. As far as possible only these heads of accounts should be used unless there is compelling reasons to ad d or delete any of these heads. |
| (k) | Postage, Telephone and Communication Charges | *Purchases should be segregated between Raw Materials and Stores for manufacture and for Finished Goods traded in. In case of manufacturing entities, " Consumption of Raw Materials' and Stores may be given instead of 'Purchases' |
| (l) | Printing and Stationary | |
| (m) | Travelling and Conveyance Expenses | |
| (n) | Expenses on Seminar/Workshops | |
| (o) | Subscription Expenses | |
| (p) | Expenses on Fees | |
| (q) | Auditors Remuneration | |
| (r) | Hospitality Expenses | |
| (s) | Professional Charges | |
| (t) | Provision for Bad and Doubtful Debts/Advances | |
| (u) | Irrecoverable Balance Written-off | |
| (v) | Packing Charges | |
| (w) | Freight and Forwarding Expenses | |
| (x) | Distribution Expenses | |
| (y) | Advertisement and Publicity | |
| (z) | Others (specify) | |
| SCHEDULE 22 EXPENDITURE ON GRANTS SUBSIDIES ETC. | ||
| Grant, Subsidies or other similar assistance given to the Institutions/Organisations for general purposes and objectives of the Entity, on an irrevocable basis, shall be included in this schedule. | ||
| (a) | Grants given to Institutions/Organisations | Name of the Institutions/Organisations, their activities along with the amounts in each case should be disclosed. |
| (b) | Subsidies given to Institutions/Organisations | These grants etc. are with or without any conditions attached as to their utlization and are of the nature of non-refundable amounts which are to be appropriated as expenditure. |
| The gross receipts shown against each sub-head in the schedule 13, could be the sources of these grants/subsidies that are given, in tun, to other institutions/organizations on irrevocable basis. | ||
| The gross expenditure against each head should be disclosed. | ||