The expert group constituted by the Ministry of Corporate Affairs has specifically highlighted the need to develop cost accounting standards on the basis of generally accepted cost accounting principles. The cost accounting standards board is working to address the issue.
So far, the board has released 12 cost accounting standards, said B B. Goyal, Advisor (Cost), Ministry of Corporate Affairs. He was addressing a gathering during seminar on Mandatory Application of Cost Accounting Standards, organised by the Institute of Cost and Works Accountants of India (ICWAI), Chandigarh Chapter, in association with the PHD Chamber at PHD House, Sector 31, Chandigarh.
Kapil Gupta, Chairman, Chandigarh Chapter of ICWAI and Dalip Sharma, Regional Director, PHD Chamber welcomed the dignitaries and participants and addressed the need of cost accounting standards to standardise the practices followed to ascertain cost of production.
Hi All, This is not time to fight between ourselves.We all needs to take active participation in creating the value of the institute. This is our scincere request to the ledears of institute to set up the goal and take the proper strategy to acieve the same.I agree with Mr.Sahu that immidiate we should shift our HO to delhi.
I too agreed Sir.
Unless the head quarter of ICWAI is shifted to NEW DELHI,nothing good to the profession of cost and management accountancy shall happen.It is not only hard truth but a reality one.I would like to provoke all professional CMAs by asking them to proactively fight for this first, instead going for comparative analysis.It is neither a company nor an establishment to take care of employabity of peoples of a particular state or region.Neverthless being a professional body meant for contributing best to the nation at large because of malfunctioning failed to live of the expections of visionaries who had souldered the resposibility of passing the act in the parliament in Year 1959.
i fully agreed with you sir. i unable to understand what institute has achived in its 50 years.
SIMPLY ARRANGING CONFERENCES OR OBTAINING ADDRESSES FROM mINISTERS WILL NOT IMPROVE THE STATUS OF cOST aCCOUNTANTS. A YOUNGER ORGANISATION I,E ICS HAS MORE RESPECT IN THE MARKET, IT IS THE TIME TO ACT FAST AND IMPROVE THE STATUS OF ICWA