Maruti Udyog's Accounting Policies
| Case Code: FINA008 Case Length: 10 Pages Period: 2003 Pub Date: 2004 Teaching Note: Not Available |
Price: Rs.300 Organization: Maruti Udyog Limited Industry: Automobile Countries: India Themes: Accounting Policies, Control, Fraud |
Abstract Case Intro 1 Excerpts
Excerpts
Background Note
In the early -1980s, the Indian government decided to produce a small car, which would be affordable to the Indian middle class. It procured technology from Japan, which had developed world-class capabilities in small cars by that time. It was not Toyota or Nissan or Honda, the three largest players in Japan, with whom the government tied up, but Suzuki, a much smaller company, with strong capabilities in making small cars. Maruti was incorporated in 1981 by taking over the assets of the erstwhile Maruti Ltd, (set up in 1971 and wound up in 1978)...
Accounting Policies
Maruti's financial statements were prepared in accordance with historical cost convention, the applicable accounting standards issued by the Institute of Chartered Accountants of India (ICAI) and the relevant provisions of the Companies Act, 1956. The consolidated financial statements of Maruti included accounts of the company and its subsidiary undertakings...
Exhibits
Exhibit I: Maruti: Major Brands
Exhibit II: Maruti: Revenue
Exhibit III: Maruti: Fixed Assets
Exhibit IV: Maruti: Plant and Machinery
Exhibit V: Maruti: Inventories
Exhibit VI: Maruti: Investments
Exhibit VII: Maruti: Foreign Exchange Transactions
Exhibit VIII: Maruti: Research and Development
Exhibit IX: Maruti: Contingent Liabilities
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