• Gul Ahmed start trading in textiles in the early 1900s and started manufacturing in 1953.

• from 1970, the company has been making rapid progress and has achieved leading position in the world of textiles.

• It is a composite unit with: • 130,000 spindles• 300 weaving machines • most modern yarn dyeing, processing & stitching units .

• It has its own captive power plant comprising of gas engines, gas & steam turbines, and backup diesel engines.

• It has also set up a waste water treatment plant to protect environment by treating the company waste.

• Ideas - store by Gul Ahmed has a strong presence in the retail business.• Gul Ahmed now has an extensive chain of more than 40 retail stores across the country.• More than 50 years since its inception, the name Gul Ahmed is still globally synonymous

with quality, innovation & reliability.

Company Overview

YarnsGul Ahmed has been able to craft its place as a leading producer of yarn dyed fabrics.TYPES OF YARNS Carded Yarns Combed Yarns Fancy Yarns Plied Yarns Core Spun Yarns Slub Yarns Packed YarnsThe yarn produced by Gul Ahmed is exported around the globe The different regions that Gul Ahmed exports its yarn to include:•North/South America (USA, Brazil)•Europe (Italy, Germany, Portugal, Poland, Ukraine, Russia, Turkey)•Africa (Egypt)•Middle East (Syria, UAE, Saudi Arabia)•South-East Asia (Bangladesh, Sri Lanka, South Korea, Indonesia)

Products Offered

Gul Ahmed is capable to dye and print the whole range of home textile and apparel fabrics.Gul Ahmed is equipped with the most advanced technology that enables a vast spectrumof product varieties that include:

Plain Fabrics Sheeting Fabrics Poplin Fabrics Canvas Oxford Duck Bedford Cord Herringbone Ottoman Twill    Rib Stops Slub Fabrics Stretch Fabrics Mélange Fabrics Sateen    

Fabrics

Gul Ahmed's fine textile products of cotton fibers are spun, woven and processed into the finest quality cotton and blended through a combination of latest technology, skills and craftsmanship of this traditional industry. The made-ups can be in white, dyed, printed or yarn-dyed form, and in different styles of confectioning.Institutional Textiles•Patient Gowns•Scrub Suits•Lab Coats•Chef Coats•Hospital Sheets•Hospital Sheets•Doctors and Nurses Uniforms•High Visibility Uniforms

Apparel•Pajama Suits•Boxer Shorts•Bermuda Shorts•Casual Shirts•Children's Pajama Suits•Children's Sleeping Bags

Home Textiles• Sheets and

Pillowcases• Comforters• Quilt/Duvet covers• Bed-in-a-Bag• Decorative pillows• Curtains• Upholstery fabrics

Made-ups

The financial statement have been prepared in accordance with approved accounting standards as applicable in Pakistan. Approved accounting standards comprise such International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board as are notified under the Companies Ordinance, 1984, provisions of and directives issued under the Companies Ordinance, 1984. In case requirements differ the provisions of and directives of the Companies Ordinance 1984 shall be prevail.

Statement of Compliance

Accounting Cycle

is the best accounting software's are used to carry on the accounts cycle and fights the damaging effects of the complexity.It is Enterprise resource planning (ERP) database SAP company is providing services in more than 130 country. SAP can record the transactions, correct the mistake in real time and track financial data in different ways. Every accounting profession should learn this accounting software.

To pass the journal entries in SAP accounting software, use an id and password to log in.From the menu, select accounting folder out of other ERP functions.Enter journal entries.

From accounting menu, choose financial accounting.select general ledger. select posting.While posting, select "enter G/L account documents.“and fill the amount. After writing recording journal entry, click post.

After completing the journal entries and ledger accounts ,trial balance sheet is constructed.

After completing trial balance sheet the adjusting of entries is done.adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

After adjusting a new trial balance sheet is constructed. A list of all the account titles and balances contained in the general form. It is an internal document and is not a financial statement.

A financial statement or financial report is constructed in which the financial activities of a business, person, or other entity is formally recorded. Relevant financial information is presented in a structured manner and in a form easy to understand. It includes

1. Balance sheet 2. Income statement3. Revaluation of fixed assets4. Ratio analysis

Revaluation of fixed assets or owners equity

Operating Fixed Asset:1 Cost of an Asset:

Opening Balance- Cost 6,105,833 Addition during the year 723,040 Less: Disposal of Asset (26,961)

Closing Balance - Cost 6,801,912

2 Accumulated Deprecialtion:Opening Balance - Accumulated (4,390,293) Add: Depreciation for the year (636,782) Less: Depreciation on Disposal Asset (32,615)

Closing Balance - Accumulated Depreciation 5,059,690 Book Value 1,742,222

1 WORKING CAPITAL: Current Assets-Current liabilities 2012 2011Current Assets= 8350600 Current Assets= 7359272Current liabilities= 8574679 Current liabilities= 7749618

(224,079) (390,346)

2 CURRENT RATIO: Current Assets/Current Liabilities Current Assets= 8350600 Current Assets= 7359272Current liabilities= 8574679 Current liabilities= 7749618

0.974 0.950

3 QUICK RATIO: Current assets- Inventories-Prepaid/C.L Current Assets= 8350600 Current Assets= 7359272Inventories= 5419326 Invntories= 4333234Prepayments= 47939 Prepayments= 33931Current liabilities= 8574679 Current liabilities= 7749618

0.336 0.386

4 Super Quick Ratio Cash+ Cash equivalent/current liabilities Cash= 84966 Cash= 99667Cash equivalent= Cash equivalent=Current Liabilities= 8574679 Current Liabilities= 7749618

0.0991 0.0129

2010 2010 2009 20091 Total liabilities 11,003,926 75.37% 10,465,502 77.04% long term Laibilities only

total equity 14,599,691 13,583,734

2 Share holder Equity 3,595,765 24.63% 3,118,232 22.96%Total Equity 14,599,691 13,583,734

RATIO ANALYSIS

CAPITAL STRUCTURE RATIO

Debt Ratio

Equity Ratio

After completing the financial statement, closing of entries is done in which we close all revenue and expense accounts.

Post closing trial balance

A post-closing trial balance is a list of balances of ledger accounts prepared after closing entries have been passed and posted to the ledger accounts.

THE END