Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Product Profile 9 - 12
Sources of data
Findings &
Chapter – IV 56 - 57
Suggestions
Conclusion 58
Annexure 59 - 68
Bibliography 69
1
INTRODUCTI
ON
2
INTRODUCTION
planning and controlling of the firm’s finance. Finance is one of the foundations of all
kinds of economic activities. Finance is the life-blood of a business. The financial man-
agement study deals with the process of procuring necessary financial resource and
their judicious use with a view to maximizing the value of the firm and there by the value
of the owners i.e. equity share holders in a company. Practicing managers are interest
in this subject because among the most crucial decisions of the firm are those which re-
them with conceptual and analytical insights to make those decisions skillfully.
FINANCIAL MANAGEMENT
DEFINITIONS: -
providing and managing of all the money, capital or funds of any kind to be used in
the efficient use of any important economic resource, namely capital funds”.
3
FINANCE FUNCTIONS: -
and other functions, but the functions themselves can be readily identified. The
functions of raising funds investing them in assets and distributing returns earned from
• Maximization of profit
4
INDUSTRY PROFILE
Sugar cane is one of the important crops for the Indian farmer. Sugar and
Jiggery are the main products that we get from Sugarcane. Other products such
as Biogases for industrial use, Molasses for distillery, filter cake, Mud as an
organic manure and green leaves with tops for cattle feed are also available as
by products because of it’s multi uses Sugarcane has played crucial role in
Indian economy with rs.20000 cores turnover and width 450 mills providing
assistance to 45 million sugar cane farmers and 2 million Sugarcane farmers and
2 million workmen directly and indirectly.
In A.P. sugar industry is an important Agro-based industry, occupying the
second position next to text tile industry. The annual cultivated area is about
1.99 lack hectares with a yield of 149.45 lacks of tones during 96-97. At present,
there are 36 sugar factories in the state and 50% of them are in co-operative
sector. The co-operative sugar units in the states have been suffering due to
lack of adequate cane irrigation facilities, working capital, by-product utilization,
excessive employment etc.,.
The sugar industries which provide direct employment to about 3 lacks
persons of sugar cane followed by Brazil & Cuba. Sugar cane existed in India
from 3000 B.C. The centre place of origin of sugar cane regarded as
Northeastern Indian, from sugar cane seems to have been to China and other
places by early travelers and no man’s between 1800 and 1700 B.C. later. It was
penetrated to Philippines, Jewa and other places. Actually the word sugar
derived from a Sanskrit word “shakra”.
India was the world’s largest producer of sugar cane occupies a very pride
place in the world. In India, the cultivation of sugar cane is 10,000 miles tones.
The average yield, being 56 tones per acre of total cultivating land is occupied by
sugar cane cultivation. Sugarcane is grown in almost all part of India, except in
colder regions and extreme North Jammu Kashmir, Himachal Pradesh.
5
Area wise distribution of sugar industry in A.P.
6
SUGAR INDUSTRY NATURE
SEASONALITY
The industry is seasonal with the season starting in Nov and continuing till
April/May, sugar cane is available during these 6-7 months and crushing also
takes place during these months.
LICENSING SYSTEM
7
COMPANY PROFILE
8
MANAGEMENT
President 1
Board of directors 14
Employee director 1
There are major departments:-
Administrative
Engineering
Manufacturing
Agriculture
Accounts &finance
PRODUCTS
SUGAR
MOLASSES
CAPITAL STRUCTURE
Original project cost was RS. 128.50 lakhs. It has been funded from
following sources:
9
II) Term loans RS.Lakhs
------------
10
PRODUCT PROFILE
Sugar Cane
personnel) harvested and supplied to the factory in trucks fresh less tops and
roots. Trucks are weighed with cane on Weigh Bridge and unloaded on the
Millings
Provided with a tandem of four mills land each mill is provided with three
rollers. On the cane carried for cane preparation cane knives driven by motor
and followed by a Fibrizer driven steam turbine are provided to chop the cane
into small pieces and fiber to make the milling move efficient and to extract
maximum juice from the cane. To make this process more effective assured
quantity of water is added to Mills. After extraction of juices the waste materials
is called bagasse.
Boilers
Per hour steam at 300 p sig (21 Kgs). Steam is used for driving the Fibrizer,
mills by turbines and generator power, by steam turbine alternator. For boilers
11
Clarification
simultaneously. Juices will be coagulated form and will not settle. To induce
time in slurry form, also called milk of lime, by using addition of such alkaline
dioxide gas. This gas is produced in sulphur burners and bubbled in preheated
juices. By the aid of compressed air passing through sulphur burners. As such
a juice is kept at slightly alkaline medium say 701 to 7.2. Then this treated juice
is heated again in other row of juices heaters to 102 C and to send to graver.
Graver is a big tank where settling is taking place. Continuously, such juices is
sent and drawn from it with the detention time of juices of about 330 hours, in ‘u’
tube principles.
Evaporation
In graver juices will be well settled and will have a golden yellow color of
7.0pH (Neutral). This clear juice will contain more than 85% of water and the
water is removed and made syrup. This consists of one vapor cell and is
followed by four bodies. Boiling is done under vacuum using exhaust stream
from turbines tubes emerging out through tube plates and above this calandria
vapor space or shell. Steam circulated through calandreia and heating the outer
12
point of huices is brought well below its origin boiling point. In the vapor cell
alone exhaust steam is admitted into the calandria produced vapor to its
subsequent body and soon. Vacuum is helping is drawing vapor from the
preceding body and this boiling is called multi effect boiling and maximum fuel
economy. Thus when juices is emerges out from last body it will be a syrup,
Vacuum filter
Mud settled in graver is taken in rotary filters to extract juices from it and
waste is called filter cake sent out and used as manure. Extracted juices is again
mixed juices from mills after weighment tank and takes the path of process along
The syrup from evaporator last body is again sulphited to beach to get white
Pans
Pan bodies are similar to evaporators in construction with different design.
Materials are invidiously boiled in four numbers under vacuum. When the syrup
is further boil in pans. When the super saturation point reaches crystals come
out its is again boiled up by addition kept in pan and the rest 2 portions sent to
receivers. Then again pan is boiled. This process will help growth or crystal as
desired by us.
Three boiling are bone A, B, C. These are called massecuites. All these
mass cuties (sugar + molasses) are purged in centrifugals respectively sugar and
molasses are separated. Pans are boiler on vapor produced form vapor cell.
13
Centrifugals
stirring mechanism). From crystallizes taken into centrifugal machines and sugar
and molasses separator. Centrifugal machines contain a basket fitted with mesh
and screen of small opening and will not allow sugar crystals to pass through but
only molasses. When one machine changed with massecuities and spun at 150
RPM molasses gets out and collects in a tank. Sugar remains in basket washed
and dried by steam. Then dropped on hopper (to and or) shaking medium sugar
will get dry when flowing and galls on sugar grader (fitted with meshes) screened
and bagged. Bags weighed on P.O scales of 100kgs. And sent to go down.
and sugar form c massecuites (final) are again boiled in pans in cyclic manner.
Molasses got fro c massecuites called final molasses is a waste and sent to
accordance and large i.e., S-29, S-30. As the demand in the market is for S-30 it
14
RESEARCH
METHODOLO
GY
15
RESEARCH METHODOLOGY
NEED FOR THE STUDY
In carrying the study both primary and secondary data collected in aphased
manner as follows:
16
SOURCES OF DATA ANALYSIS
PRIMARY DATA:-
were chosen on the basis of their in depth knowledge and experience in the
possible.
SECONDARY DATA:-
Secondary data was obtained from the past records file and reports of the
to constant monitoring and reviews by the financial manager. There are different
analytical tools which can help a financial manager in monitoring in viewing and
Since only 5 years data is used for the analysis the out come may
Not be generalized.
17
Due to limitations of time, it was unable to go far a depth study into
The subject.
DATA
ANALYSIS
18
INTRODUCTION TO WORKING CAPITAL
“the money required for carrying on day today activities of an organization. The
management of current assets is similar to that of fixed assets in the sense that
in both cases a firm analysis their effects on its return and risk.
important ways: first, in managing fixed assets, time is very important factor;
capital budgeting and a minor one in the management of current assets. Second,
the large holding of current assets, especially cash, strengthens the firms liquidity
position (and reduce risk ness), but also reduces the overall profitability. Thus, a
risk-return trade off is involved in holding current assets. Third, levels of fixed as
well as current assets depend upon expected sales fluctuations in the short run.
Thus the firm has a greater degree of flexibility in managing current assets.
19
MEANING AND DEFINITION
capital, which manage the firm’s current assets and current liabilities in such a
problem that arise in attempting to manage the current assets, current liabilities,
which can be concerned into and with in an accounting year (or operating cycle)
20
Gross working capitals points to the arranging of funds to finance current
assets.
2. Networking capital:-
liabilities. Currents liabilities are those claims of outsiders, which are expected to
nature for payment within accounting years and include creditors (accounts
positive or negative. A positive networking capital will arise when current assets,
exceed current liabilities and a negative working capital will arise when current
cycle. The operating cycle is a continuous process and therefore, the need for
the current assets is felt constantly. But the magnitude of current assets needed
by the firm to carry on its business operations. This minimum level of current
EXAMPLE: - Every firm has to maintain a minimum level of raw materials, work-
in-progress, finished goods and cash balance. This minimum level of current
21
assets is called permanent or fixed working capital as this part of capital is
of permanent working capital also increase due to the increase in current assets.
Temporary
Or
Fluctuating
Permanent
Time
Depending upon the changes in production and sales, the need for
working capital over and above permanent working capital, will have in be
maintained to support the peak proceeds of sale and investment in receive may
also increase during such periods. On the other hand, investment in raw
material, working in progress and finished goods will fall if the market is slack.
The extra working capital needed to support the changing production and
22
firm to meet liquidity measurement that will last only temporarily creates
Temporary
Or
Fluctuating
Permanent
The need for working capital to run day -to -day business activities
cannot be over emphasized, we will hardly find business firm, which doesn’t
require any amount if working capital indeed, and firms differ in their
maximizing the wealth of its share holders. In its endeavor to do so. A firm
should earn sufficient return from its operations. Earning a study amount of profit
23
required successfully sale activity. The firm has to invest enough funds in current
24
Growth and Expansion of business Taxation policy
Operating efficiency
INTERNAL FACTORS
1. NATURE OF BUSINESS:-
The working capital requirements of enterprises are basically
related to the conduct of business. Public utilities have certain features which
have a bearing on their working capital needs. They do not maintain big
capital. On the other hand trading and manufacturing concern required large
book debts.
2. PRODUCTION CYCLE: -
some time gap before raw materials become finished goods. Therefore the
longer the time span, the larger will be the working capital needed and vice
versa.
3.BUSINESS CYCLE:-
25
The business fluctuations influence the size of working capital mainly
during updated phase when boom conditions prevail, the need for working capital
is likely to cover the lag between increases sales and receipt of cash as well as
invest in plant and machinery to meet the increased demand. The down swing an
4.CREDIT POLICY:-
The credit policy relating to sales and purchases also affects the working
capital. The credit policy in influences the requirements of working capital in two
ways:
credit terms available to the firm from its creditors. A firm, which more credit
sales and cash purchase required high working capital than a firm having more
5.SCALE OF PRODUCTION:-
The growth and expansion of business also affect the working capital
requirement. When there is growth and expansion in the business of a firm the
26
7.OPERTAING EFFICIENCY:-
of the level of working capital. A firm enjoying operating efficiency can eliminate
wastage and use its resources efficiently and thereby reduce its working capital
needs considerably.
EXTERNAL FACTORS
1. BUSINESS FLUCTUATIONS:-
goods and services tends to shoot up. To cope with increased demand and
capital.
2. TECHNOLOGICAL DEVELOPMENTS:-
have sharp effects on the need for working capital. If a firm switches over to new
manufacturing process and installs new equipments with which it is able to cut
27
Where the means of transport and communication in a
country are not well developed, industries may need additional funds to maintain
big inventory of raw materials and other accessories which would otherwise not
developed.
4. IMPORT POLICY:-
on the levels of working capital of the enterprises since they have to arrange
5. TAXATION POLICY:-
policy of the government, as it exists today in India, imposing heavy tax burdens
on business enterprises leaves very little profits for distribution and retention
purposes.
28
SOURCES OF WORKING CAPITAL:-
Among the various sources available for financing working capital needs
finance manager has to select the best suitable source depending on working
29
Postponement of payment Govt.
Accrued expenses assistance
Public deposits
products and relative inputs. On the other hand the government and monetary
authorities play their own role to curd the malice in periods of inflation. The
control measures often take the firm of dear money policy and restriction credit.
context. In view of mounting inflation, the R.B.I has taken up certain social
measures to check the money supply in the economy. The balancing need has
sufficient profits and retaining the same of coping with the additional working
capital requirements. The first choice before a finance manager, where banks do
not provide a part of additional working capital, is to take the long-term sources of
fiancé.
30
Loans from financial institution the option is normally rules out, because
Further this facility is not available to all companies this option is not practical.
FLOATING OF DEBENTURES:-
certain reputed groups generally failed to attract investors to invest their funds in
ISSUE OF SHARES:-
command respect of investors in the context low profit margin as well as lack o
31
Raising funds from operational profit poses problems for many companies,
because price of their end products are controlled and do not permit companies
largely feasible solution lies in increase profitability through cost control and cost
CAPITAL:-
to make dividend policy liberal and difficult to cope with in future when the firm is
2) It becomes difficult to implement t operating plans and achieve the firms profit
target.
32
3) Operating inefficiencies creep in when it becomes difficult even to meet day-
to-day commitments.
4) Fixed assets are not efficiently utilized for the working capital funds. Thus, the
5) Paucity of working capital funds renders the firm unable to avail of attractive
basis of past experience. The past relationship between sales and working
requirements for future. It is, however, presumed that the relationship between
sales and working capital that has existed in the past has been stable. This may
33
future. However this method lacks reliability inasmuch as its basic assumption of
linear relationship between sales and working capital does not hold true in all the
establishing the average relationship between sales and working capital and its
various components in the past years. In this regard the method of least squares
is employed and the relationship between sales and working capital is expressed
by the equation:
Y=a+bx
The values of ‘a’ and ‘b’ is obtained by the solution of simultaneous linear
b=variable component
x=sales
y=inventory
n=number of observation
34
3. OPERATING CYCLE APPROACH:-
If the operating cycle is length than the working capital requirement will be
more on the other hands, if the operating cycle is shorter than the working capital
operations. The duration of the operating cycle may be found with the help of the
following formula:
O=R + W + F + A – P
W=Duration of work-in-process
35
It reflects the number of days for which raw materials remain in
inventory before they are issued for production. The following formula can be
R = ----------------------------------------------------
W = --------------------------------------------------
inventory before they are sold. This can be computed by the following formula:
F = ----------------------------------------------
36
It represents the number of days required to collect the accounts
A = ---------------------------------------------
materials offer credit. This may be measured with the help of the following
formula:
P = -----------------------------------------------
OPERATING CYCLES:-
MANUFACTURER
CASH
DEBTORS
RAWMATERIALS
FINISHED GOODS
37
WORK IN PROGRESS
TRADER
CASH
DEBTORS
FINISHING GOODS
FINANCIAL INSTITUTIONS
CASH
38
DEBTORS
P.L. Tandon in July 1974. The terms of reference of the committee were:
credit from the point of view of ensuring proper end use of funds and keeping a
To suggest the type of operational data and other information that may
be obtained by banks periodically from the borrowers and by the reserve bank of
industries, both in the private and public sectors and indicate the broad criteria
39
To suggest criteria regarding satisfactory capital structure and sound
MANAGEMENT:-
accounting ratios. The important accounting ratio’s that could be used for
Current ratio
Quick ratio
40
SCHEDULE OF CHANGES IN WORKING CAPITAL FOR THE YEAR 2002-03
Capital
290625928.30 290625928.30 74694000.95 74694000.95
INTERPRETATION:
The net working capital requirement of the company during the year 2002
has been increased in 2003, and the net working capital of the company was
41
recorded RS. 22,07,74,033.80 and it was been increased to Rs. 29,06, 25,928.30
Capital
220774033.80 220774033.80 145170678.90 145170678.90
INTERPRETATION:
The net working capital requirement of the company during the year 2003
has been increased in 2004, and the net working capital of the company was
42
SCHEDULE OF CHANGES IN WORKING CAPITAL FOR THE YEAR 2004-05
Capital
91362817.70 91362817.70 17308622.60 17308622.60
INTERPRETATION:
The net working capital requirement of the company during the year 2005
has been increased in 2004, and the net working capital of the company was
43
Effect of working capital
INTERPRETATION:
The net working capital requirement of the company during the year 2006
has been increased in 2005, and the net working capital of the company was
44
Effect of working capital
INTERPRETATION:
The net working capital requirement of the company during the year 2006
has been increased in 2007, and the net working capital of the company was
RATIO ANALYSIS
Over several years scientific tools have been evolved for determine
ratio analysis occupies place of prime importance. Ratio’ are complied and
45
capital strategies perused by the organization short term and long term solvency
liquidity etc. I would deal with some of the predominant rations more relevantly
CURRENT RATIO
Current ratio indicates ability of the company to meet the current obligation
i.e., the current assets must be sufficient to pay as and when the latter matrices.
The standard ratio is 2:1, the current ratio is calculated by using the formula:
Current assets
Current ratio = ----------------------
Current liabilities
46
1.8
1.6
1.4
2006-07
1.2
RATIOS
2005-06
1
2004-05
0.8
2003-04
0.6
2002-03
0.4
0.2
0
2003 2004 2005 2006 2007
YEARS
INTERPRETATION
The current ratio is below satisfactory level of 1:58 during the year 2002-
2003 and the year 2003-2004 above the satisfactory level. However there is a
decrease during the years 2004-2005 to 2006-2007 the decrease in the current
ratio indicates bad trend of company.
47
QUICK RATIO
Quick ratio are acid test ratio ignores less liquidity assets like
inventory. This takes account readily available cash and other assets
which are quickly converted into cash. The standard is ratio is1:1. The general
principle of quick ratio is as follows:
Liquid Assets
Quick ratio = --------------------------------
Current liabilities
48
0.2
0.18
0.16
0.14 2006-07
RATIOS
0.12
2005-06
0.1
2004-05
0.08
2003-04
0.06
2002-03
0.04
0.02
0
2003 2004 2005 2006 2007
YEARS
INTERPRETATION
The Quick ratio is below satisfactory level of 0:072 during the year 2002-
2003 and the year 2003-2004 above the satisfactory level. However there is a
increase during the years 2004-2005 this year position is 2005-2006to 2006-
2007 the increase in the Quick ratio indicates satisfy trend of company.
49
Turnover ratio is also known as stock velocity. This ratio is calculated to
consider the adequacy of the quantum of capital and its institution for investing in
inventory.
A firm must have reasonable stock in caparison to sales. It is the ratio of
cost of sales and average inventory of. This ratio helps the financial managers to
calculate inventory policy. This ratio reveals the number of times finished stock is
turned over during a given accounting period. The ratio is used for measuring the
profitability. These are the various ways in which stock turnover ratio may be cal-
culated.
Net sales
Inventory turnover ratio = --------------------------------
Average Inventory
50
1.6
1.4
1.2
2006-07
RATIOS
1 2005-06
0.8 2004-05
0.6 2003-04
0.4 2002-03
0.2
0
2003 2004 2005 2006 2007
YEARS
INTERPRETATION
The inventories are decreased in 2002-2003,2003-2004 and 2004-2005,
the ratio is increases 2005-2006 and if decreases in2006-2007.
51
Current assets turnover ratio indicates the extent to which the investments
in current assets contribute towards sales. It comported with a previous period. It
indicates whether the investment is fixed assets has been judicious or not.
Net Sales
Current assets turnover ratio= ----------------------
Current Assets
52
1.4
1.2
1 2006-07
RATIOS
0.8 2005-06
2004-05
0.6
2003-04
0.4 2002-03
0.2
0
2003 2004 2005 2006 2007
YEARS
INTERPRETATION
The ratio is increasing continuously from 2002-2003 to 2003-2004 and
after year2004-2005 to 2006-2007 it increased. It indicates that the current
assets were used.
53
Cash in the most liquid asset, a financial analyst may examine the ration
of cash and its equivalent to current liabilities. Trade investment or marketable
securities are equivalent of cash, therefore, they may be included in the
computation of cash position ratio.
54
0.25
0.2
2006-07
0.15 2005-06
RATIOS
2004-05
0.1 2003-04
2002-03
0.05
0
2003 2004 2005 2006 2007
YEARS
INTERPRETATION
The cash position ratio is inadequate as there are ups and downs during
the year. The above ratio indicates that the company is unable to quickly realize
its current liabilities it is not good enough.
55
Working capital of a concern is directly related to sales. The current assets
like debtors, bills receivable, cash, and stock etc., change with the increase or
decrease in sales. The working capital is taken as:
This ratio indicates the velocity of the utilization of net working capital. This
ratio indicates the number of times the working capital is turned over in the
course of a year. The ratio measures the efficiency with which the working capital
is being used by a firm. A higher ratio indicates the efficient utilization of working
capital and the low ratio indicates inefficient utilization of working capital.
SALES
WORKING CAPITAL TURNOVER RATIO = -------------------------------
NET WORKING
CAPITAL
56
8
7
6
2006-07
5 2005-06
RATIOS
4 2004-05
3 2003-04
2002-03
2
1
0
2003 2004 2005 2006 2007
YEARS
INTERPRETATION
This ratio indicates the number of times the net sales met with the working
capital for the year. The turnover of the working capital has highly increasing
from 2000-2001 to2005-2006.
57
This ratio indicates the sales generated per rupee of investment in total assets.
Althought fixed assets are directly concerned with the generation of sales. But
other assets also contribute to the production and sales activities of the firm. The
firm must manage its total assets efficiency and should generate maximum sales
through their proper utilization.
The total assets turnover is used know how many times the total assets
are being converted into sales. If sales are not available cost of goods is to be
considered. It shows in how many times the total sales are being concerted into
total assets. The ratio is calculated by dividing the cost of goods sold as sales by
total assets. The general principle for the calculation of this as follows
Sales
Total assets turnover ratio = ------------------
Total assets
58
1.4
1.2
1 2006-07
RATIOS
0.8 2005-06
2004-05
0.6
2003-04
0.4 2002-03
0.2
0
2003 2004 2005 2006 2007
YEARS
INTERPRETATION
The total asset turnover ratio increase in 2002-2003 and 2003-2004
after it decreased in 2004-2006 and after the increase turnover ratio 2006-2007.
59
FINDINGS
&
SUGGESTIONS
60
FINDINGS
In the over all evaluation of the Working Capital Management at each and
in all the years which indicate poor liquidity position of the company.
2. Inventory turn over ratio of the Chittoor Co-operative Sugar Ltd is good in
inventory.
3. Fixed Assets to Net worth Ratio of the Chittoor Co-operative Sugars Ltd is
4. Fixed Assets Turn over Ratio of the Chittoor Co-operative Sugar Ltd is
utilization
61
SUGGESTIONS
• The company should utilize the reserves and surplus by either capitaliz-
• By merging the company with other profitable company, the firm may
profit.
• By using the sugar can scrap the firm can generate it’s electrically
supply.
62
CONCLUSI
ON
63
CONCLUSION
operative Sugar Ltd, conclude in spite of all suggestions, the company has to
The inventory turn over is good in all the five years. The company should
try to increase their sales. It should maintain the high liquidity position. Hence,
the suggestions given are realistic which will lead to increase in the profitability of
the company. The company should try to tap the market and set in brand value
64
ANNEXUR
E
65
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED:: CHITTOOR
--------------------- ----------------------
45,52,37,370.60 45,52,37,370.60
--------------------- ----------------------
66
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED :: CHITTOOR
-----------------------
81,38,73,811.50
LESS:
Difference between
Assets & liabilites 29,92,13,003.98
----------------------- ----------------------
Total 51,46,60,807.52 Total 51,46,60,807.52
----------------------- ----------------------
67
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED:: CHITTOOR
--------------------- ----------------------
24,33,67,207.06 24,33,67,207.06
---------------------- -----------------------
68
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED :: CHITTOOR
LESS:
Difference between
Assets & liabilites 36,18,46,708.05
----------------------- ----------------------
Total 40,27,85,782.53 Total 40,27,85,782.53
----------------------- ----------------------
69
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED:: CHITTOOR
70
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED :: CHITTOOR
LESS:
Difference between
Assets & liabilites 39,71,03,323.03
----------------------- ----------------------
Total 43,59,05,864.28 Total 43,59,05,864.28
----------------------- ----------------------
71
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED:: CHITTOOR
4. Cost of production
Transferred from 25,75,46,899.47
Manufacturing a/c
----------------------- ----------------------
41,17,32,920.70 41,17,32,920.
----------------------- ----------------------
72
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED:: CHITTOOR
-----------------------
LESS: 1,03,09,18,519.75
Difference between 40,53,03,194.91
Assets & liabilites
----------------------- ----------------------
Total 62,56,15,324.84 Total 62,56,15,324.84
----------------------- ----------------------
73
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED:: CHITTOOR
---------------------- ----------------------
68,61,71,362.07 68,61,71,362.07
---------------------- ----------------------
74
THE CHITTOOR CO-OPERATIVE SUGARS LIMITED:: CHITTOOR
LESS: 11,27,66,45,76.38
Difference between 49,89,41,043.06
Assets & liabilites
------------------------ ----------------------
Total 62,87,23,533.32 Total 62,87,23,533.32
------------------------ ----------------------
75
BIBLIOGRAP
HY
76
BIBLOGRAPHY
THE following books have reffered during the prepararion of this project:-
I.M.pandey - Financial management- Vikas publishing house PVT LTD, New
Delhi-110014, 2003.
Prasanna Chandra- Financial management-Tata MCGrawhill-hill publications
company ltd, New Delhi, 2002.
R.K.Sharma and Shashi K.Gupta -Management accounting Kalyani
publishers, NewDelhi-2003.
Advanced financial management - Publishes by director of studies- ICWAI. –
KOLKATA 70016.
77