Capital work in Progress
Examples of notes to accounts relating to capital work in progress are given
below :
1.
Cost of Fixed Assets and Capital Work in Progress includes the
following pre-operative expenses.
31-3-______
(Rs. Lacs)
31-3-______
(Rs. Lacs)
Opening Stock of goods produced
___________
___________
Salary and Taxes.
___________
___________
Contribution to Provident and other
funds.
___________
___________
Rent (Net)
___________
___________
Rates and Taxes.
___________
___________
Insurance
___________
___________
- Audit Fees.
___________
___________
- Certification Work
___________
___________
Interest on Term Loans & Debentures.
___________
___________
Interest on others
___________
___________
Miscellaneous Expenses
___________
___________
Depreciation
___________
___________
Raw Materials consumed
___________
___________
Power and Fuel
___________
___________
Excise Duty
___________
___________
Legal and Professional Fees
___________
___________
___________
___________
Less : Sale of Cement Manufacturing during trail run
___________
___________
Closing Stock of Goods Purchased
during trial run
___________
___________
Material Produced in Trial Run
___________
___________
Payment to Branch Auditors :
Total
2.
3.
Capital Work-in-Progress includes Rs. _______ for Delhi Project, the
details of which are as follows :
(a)
Capital Work-in-Progress (after adjustment of Rs. ____________
being net increase due to change in the rate of exchange of
the rupee and payment to Auditors - other matters consultancy services Rs. _________).
(b)
Capital Goods in transit
(c)
Advances for Capital Goods - Unsecured considered good.
(d)
Stock of construction materials - value at cost
(e)
Interest on Loans
Addition to Fixed Assets and Capital Work in Progress include
expenditure on new industrial units as follows :
Year ended
31-3-_____
(Rs. Lacs)
Years ended
31-3-______
(Rs. Lacs)
(i)
Repairs to Buildings
___________
___________
(ii)
Salaries & Wages
___________
___________
(iii)
Contribution to Provident Fund ___________
___________
(iv)
Employee Welfare Expenses
___________
___________
(v)
Insurance
___________
___________
(vi)
Rent
___________
___________
(vii)
Rates & Taxes
___________
___________
(viii) Miscellaneous Expenses
___________
___________
(ix)
___________
___________
Interest
Total
--------------------------___________
___________
---------------------------
4.
Cost of Capital Work-in-Progress include pre-operative expenses of
Rs. _________ lacs consisting of Stores & Spare Parts consumed
Rs. __________ lacs, Power & Water charges Rs. ________ lacs, Salaries
Rs. _____________ lacks, Contribution to Provident & other Fund
Rs. ________ lacs, employees Welfare expenses Rs. _________ lacs, Rent
Rs. _____________lacs, Rates & Taxes Rs. ____________ lacs, Insurance
Rs. _________ lacs, and Miscellaneous expenses Rs. _________ lacs.
5.
Capital Work in Progress includes :
Project Expenses pending Allocations as under :
(i)
Salaries & Wages (Rs.
(ii)
Contribution to Provident & Other Funds (Rs.
(iii)
Staff Welfare Expenses (Rs.
(iv)
Interest on Term Loan (Rs.
(v)
Depreciation (Rs.
(vi)
Miscellaneous Expense
)
(Rs.
6.
As commercial production has not been commenced as at the date of this
balance sheet at the Delhi Plant, certain expenditure incurred by the
company as detailed in Schedule ______ which canot be regarded as part
of the incidental cost of construction of buildings and plant and
machinery, has been treated as deferred revenue expenditure. It is
proposed that such expenditure will be written off to the future
profit or loss account starting from the year in which commercial
production commences. These expenses have been identified as relatable
to the work to be undertaken after the company commences commercial
production and includes certain expenses allocated to deferred revenue
expenditure on the basis of estimates made by management.
7.
The Company started trial runs and trial production at its _____ Plant
on _______ Commercial production has not been commenced as at the date
of Balance Sheet. The expenditure incurred on the Project during the
period from ________ to ________ has been included in Schedule _______
`Pre-operative and Trial Production expenditure allocated to Fixed
Assets and Capital Work in Progress'. The preoperative and trial
production expenditure has been allocated to Buildings, Plant and
Machinery, Capital Work in Progress in the ratio of direct costs.
8.
Interest amounting to Rs. _____________ on loans for capital work in
progress has been capitalised during the year.
9.
Commitments against capital expenditure sanctioned by the Board up to
31st March, ______ in so far as they have not been provided for in the
account amounted to Rs. _________.
10.
Capital work in progress includes the entire interest of Rs. _________
lakhs (icluding Rs. __________ lakhs for the year) on deferred payment
credits availed under ICICI re-discounting scheme for purchase of
machineries.
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