Zenith Birla India Ltd has informed that in the limited review report of the Company for the quarter ended September 30, 2007, the Auditors of the Company have made the following observations:
Cost of finished goods and goods under process at Tools Division of the Company is determined using the retail method whereby the cost is computed by reducing from the sales value of the inventory, the global gross margin. This method is not in accordance with Accounting Standard 2 (AS-2) on Valuation of Inventories issued by the Institute of Chartered Accountants of India. The impact of this on the profit for the period is not quantifiable.
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