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Breif Accounting policites of different Pakistani companies
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ACCOUNTING POLICIES AND ESTIMATESBATA
2010
Employee Retirement Benefits
Taxation-Current
Taxation- Deffered
PPE (excluding freehold land)Freehold Land
Capital Work in Progress
Intangibles- Operating Leases Accrual basisIntangibles- Computer Software Amortised Cost Held for trading Investments Fair ValueHeld to Maturity Investments Markup rateAvailable for sale Fair ValueFinancial Instruments Fair Value
Stores and spares Weighted Average Cost method
Stock in trade Weighted Average Cost method
a) For employees, who are members of the provident fund scheme, the provision is calculated with reference to 3 weeks’basic salary for each completed year of service.b) For employees, who are not members of the provident fund scheme, provision is based on 30 days gross highest salaries/wages drawn during the year for each completed year of service.
the current taxation is provided on the basis of presumptive tax regimein accordance with the provisions of the Income Tax Ordinance, 2001.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the liability is settled based on taxrates
Cost less Recognized Impairment loss
Trade debts and other receivables NRVCash and Cash equivalents Cost Borrowings 3 Months KIBOR
Trade and other payables
Provisions Best estimate Derivative Financial Instruments Fair ValueRevenue Fair ValueForeign Currency Transactions
Cost/Fair Value (as both are equal)
ACCOUNTING POLICIES AND ESTIMATESBATA BATA
2011 2012
Accrual basis Accrual basisAmortised Cost Amortised Cost Fair Value Fair ValueMarkup rate Markup rateFair Value Fair ValueFair Value Fair Value
Weighted Average Cost method Weighted Average Cost method
Weighted Average Cost method Weighted Average Cost method
a) For employees, who are members of the provident fund scheme, the provision is calculated with reference to 3 weeks’basic salary for each completed year of service.b) For employees, who are not members of the provident fund scheme, provision is based on 30 days gross highest salaries/wages drawn during the year for each completed year of service.
a) For employees, who are members of the provident fund scheme, the provision is calculated with reference to 3 weeks’basic salary for each completed year of service.b) For employees, who are not members of the provident fund scheme, provision is based on 30 days gross highest salaries/wages drawn during the year for each completed year of service.
the current taxation is provided on the basis of presumptive tax regimein accordance with the provisions of the Income Tax Ordinance, 2001.
the current taxation is provided on the basis of presumptive tax regimein accordance with the provisions of the Income Tax Ordinance, 2001.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the liability is settled based on taxrates
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the liability is settled based on taxrates
Cost less Recognized Impairment loss
Cost less Recognized Impairment loss
NRV NRVCost Cost 3 Months KIBOR 3 Months KIBOR
Best estimate Best estimate Fair Value Fair ValueFair Value Fair Value
Cost/Fair Value (as both are equal)
Cost/Fair Value (as both are equal)
ACCOUNTING POLICIES AND ESTIMATESBATA BATA
2013 2014
Accrual basis Accrual basisAmortised Cost Amortised Cost Fair Value Fair ValueMarkup rate Markup rateFair Value Fair ValueFair Value Fair Value
Weighted Average Cost method Weighted Average Cost method
Weighted Average Cost method Weighted Average Cost method
a) For employees, who are members of the provident fund scheme, the provision is calculated with reference to 3 weeks’basic salary for each completed year of service.b) For employees, who are not members of the provident fund scheme, provision is based on 30 days gross highest salaries/wages drawn during the year for each completed year of service.
a) For employees, who are members of the provident fund scheme, the provision is calculated with reference to 3 weeks’basic salary for each completed year of service.b) For employees, who are not members of the provident fund scheme, provision is based on 30 days gross highest salaries/wages drawn during the year for each completed year of service.
the current taxation is provided on the basis of presumptive tax regimein accordance with the provisions of the Income Tax Ordinance, 2001.
the current taxation is provided on the basis of presumptive tax regimein accordance with the provisions of the Income Tax Ordinance, 2001.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the liability is settled based on taxrates
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the liability is settled based on taxrates
Cost less Recognized Impairment loss
Cost less Recognized Impairment loss
NRV NRVCost Cost 3 Months KIBOR 3 Months KIBOR
Best estimate Best estimate Fair Value Fair ValueFair Value Fair Value
Cost/Fair Value (as both are equal)
Cost/Fair Value (as both are equal)
ACCOUNTING POLICIES AND ESTIMATESBATA
2010
Taxation-Current
Taxation- Deffered
PPE (excluding freehold land)
Capital Work in Progress
Intangibles- Operating Leases Straight line basis
Held for trading Investments Fair Value
Held to Maturity Investments Amortized Cost
Available for sale Fair ValueFinancial Instruments Fair ValueStores and spares Moving Average cost
Employee Retirement Benefits
The Company operates a funded contributory provident fund scheme for its permanent employees.The Company and employees make equal monthly contributions of 8.33 percent of the basic salary,towards the fund
The charge for current tax is calculated using prevailingtax rates or tax rates expected to apply to the pro"t for the year if enacted.
Deferred tax is calculated at the rates that are expected to apply to the period when the di#erencesreverse based on tax rates that have been enacted or substantively enacted by the balance sheetdate.
cost lessaccumulated depreciation and any identified impairment loss.
Cost less Recognized Impairment loss
Stock in trade
Cash and Cash equivalents Cost Borrowings ExpenseTrade and other payables Fair ValueProvisions Fair Value
Fair Value
Revenue Fair Value
Weighted Average Cost method
Trade debts and other receivables
Initially fair value and subsequently at amortized cost usinf effective intrest rate
Derivative Financial Instruments
Foreign Currency Transactions
ACCOUNTING POLICIES AND ESTIMATESBATA BATA
2011 2012
Straight line basis Straight line basis
Fair Value Fair Value
Amortized Cost Amortized Cost
Fair Value Fair ValueFair Value Fair ValueMoving Average cost Moving Average cost
The Company operates a funded contributory provident fund scheme for its permanent employees.The Company and employees make equal monthly contributions of 8.33 percent of the basic salary,towards the fund
The Company operates a funded contributory provident fund scheme for its permanent employees.The Company and employees make equal monthly contributions of 8.33 percent of the basic salary,towards the fund
The charge for current tax is calculated using prevailingtax rates or tax rates expected to apply to the pro"t for the year if enacted.
The charge for current tax is calculated using prevailingtax rates or tax rates expected to apply to the pro"t for the year if enacted.
Deferred tax is calculated at the rates that are expected to apply to the period when the di#erencesreverse based on tax rates that have been enacted or substantively enacted by the balance sheetdate.
Deferred tax is calculated at the rates that are expected to apply to the period when the di#erencesreverse based on tax rates that have been enacted or substantively enacted by the balance sheetdate.
cost lessaccumulated depreciation and any identified impairment loss.
cost lessaccumulated depreciation and any identified impairment loss.
Cost less Recognized Impairment loss
Cost less Recognized Impairment loss
Cost Cost Expense ExpenseFair Value Fair ValueFair Value Fair Value
Fair Value Fair Value
Fair Value Fair Value
Weighted Average Cost method Weighted Average Cost method
Initially fair value and subsequently at amortized cost usinf effective intrest rate
Initially fair value and subsequently at amortized cost usinf effective intrest rate
ACCOUNTING POLICIES AND ESTIMATESBATA BATA
2013 2014
Straight line basis Straight line basis
Fair Value Fair Value
Amortized Cost Amortized Cost
Fair Value Fair ValueFair Value Fair ValueMoving Average cost Moving Average cost
The Company operates a funded contributory provident fund scheme for its permanent employees.The Company and employees make equal monthly contributions of 8.33 percent of the basic salary,towards the fund
The Company operates a funded contributory provident fund scheme for its permanent employees.The Company and employees make equal monthly contributions of 8.33 percent of the basic salary,towards the fund
The charge for current tax is calculated using prevailingtax rates or tax rates expected to apply to the pro"t for the year if enacted.
The charge for current tax is calculated using prevailingtax rates or tax rates expected to apply to the pro"t for the year if enacted.
Deferred tax is calculated at the rates that are expected to apply to the period when the di#erencesreverse based on tax rates that have been enacted or substantively enacted by the balance sheetdate.
Deferred tax is calculated at the rates that are expected to apply to the period when the di#erencesreverse based on tax rates that have been enacted or substantively enacted by the balance sheetdate.
cost lessaccumulated depreciation and any identified impairment loss.
cost lessaccumulated depreciation and any identified impairment loss.
Cost less Recognized Impairment loss
Cost less Recognized Impairment loss
Cost Cost Expense ExpenseFair Value Fair ValueFair Value Fair Value
Fair Value Fair Value
Fair Value Fair Value
Weighted Average Cost method Weighted Average Cost method
Initially fair value and subsequently at amortized cost usinf effective intrest rate
Initially fair value and subsequently at amortized cost usinf effective intrest rate
ACCOUNTING POLICIES AND ESTIMATESBATA BATA
2010 2011
Taxation-Current
Taxation- Deffered
Available for sale
Employee Retirement Benefits
The charge for current taxation is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates position taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation
The charge for current taxation is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates position taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation
Deferred income tax assets and liabilities are measured at the tax rate that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates that have been enacted or substantively enacted at the balance sheet date.
Deferred income tax assets and liabilities are measured at the tax rate that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates that have been enacted or substantively enacted at the balance sheet date.
PPE (excluding freehold land)
cost lessaccumulated depreciation and any identified impairment loss.
cost lessaccumulated depreciation and any identified impairment loss.
Capital Work in Progress
Cost less Recognized Impairment loss
Cost less Recognized Impairment loss
Intangibles- Operating Leases
Held for trading Investments
Held to Maturity Investments
Financial Instruments Fair Value Fair ValueStores and sparesStock in trade NRV NRV
Fair Value Fair Value
Cost Cost
Borrowings Expense Expense
Fair Value Fair Value
Provisions
Revenue Fair Value Fair Value
Trade debts and other receivables
Cash and Cash equivalents
Trade and other payables
Derivative Financial Instruments
Foreign Currency Transactions
ACCOUNTING POLICIES AND ESTIMATESBATA BATA
2012 2013
The charge for current taxation is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates position taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation
The charge for current taxation is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates position taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation
Deferred income tax assets and liabilities are measured at the tax rate that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates that have been enacted or substantively enacted at the balance sheet date.
Deferred income tax assets and liabilities are measured at the tax rate that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates that have been enacted or substantively enacted at the balance sheet date.
cost lessaccumulated depreciation and any identified impairment loss.
cost lessaccumulated depreciation and any identified impairment loss.
Cost less Recognized Impairment loss
Cost less Recognized Impairment loss
Fair Value Fair Value
NRV NRV
Fair Value Fair Value
Cost Cost
Expense Expense
Fair Value Fair Value
Fair Value Fair Value
ACCOUNTING POLICIES AND ESTIMATESBATA
2014
The charge for current taxation is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date. Management periodically evaluates position taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation
Deferred income tax assets and liabilities are measured at the tax rate that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates that have been enacted or substantively enacted at the balance sheet date.
cost lessaccumulated depreciation and any identified impairment loss.
Cost less Recognized Impairment loss
Fair Value
NRV
Fair Value
Cost
Expense
Fair Value
Fair Value
