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September 2012

Hindustan Unilever Ltd (31-3-2012)

By Himanshu V. Kishnadwala, Chartered Accountant
Reading Time 1 mins
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Basis for preparation of accounts

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other criteria set out in Revised Schedule VI to the Companies Act, 1956. Based on the nature of products and the time between acquisition of assets for processing and their realisation in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current/non-current classification of assets and liabilities

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