| Content | Block 9: Assets of the enterprise
Reference period for recording data in different columns of items 901 to 919 are:
column 3: Value of assets owned as on first day of the reference year - First date of reference year (to be
recorded only for enterprises providing data from its books of accounts)
column 4: Value of assets owned as on firs day of the reference year - Last date of reference year
columns 5 and 6: Additions and deductions to owned fixed assets - Reference Year
Column 7: rent payable on hired assets - Same as block 3/6
For items 921 to 923, reference period will be entire reference year.
In some balance sheets, assets are also written as 'application of funds'. Hence, while recording from books of
accounts, data in block 9 will be recorded from that part of balance sheet that shows the 'assets' or 'application
of funds'. It may be noted that the assets are assets of the enterprise. Hence, if owner of a proprietary enterprise
has made some investments (like NSC, PPF, etc.) in her/his personal capacity, these will not be considered here.
Fixed assets: Fixed assets are assets held for the purpose of producing or providing goods or services and they
are not held for resale in the normal course of entrepreneurial activities. These cover all old and new goods that
have a normal economic life of more than one year from the date of purchase. Information regarding fixed assets
is to be recorded by physical approach, i.e., all fixed assets available in the premises of the enterprise will be
considered here. If books of accounts are available, values of assets (as on first and last date of the reference
year) may be recorded as per the values available in the books. Otherwise, 'market value', i.e., value that the
asset will fetch if sold at present (as on last date of the reference year) condition will be recorded.
Fixed assets will include: -
1) assets used for production, transportation, living or other facilities (recreation etc.). Full value of assets taken on
hire purchase/ instalment (whether fully paid or not) excluding interest should be considered.
2) assets under construction, i.e. construction of building etc., installation of plant and machinery, preparation of
chassis of truck, etc. (transport equipment) may be reported under the relevant items.
3) additions to fixed assets (as distinct from minor repair work) during the reference year are to be included.
Fixed assets will not include: -
1) intangible assets like goodwill etc.
2) advance payment for fixed assets not yet received.
3) fixed assets owned but rented out. |
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