CA, CS, CMA : Ensure timely compliance with the 2023-24 Cost Audit timeline. Promptly report any deviations to the Ministry of Corporate Affairs...
CA, CS, CMA : Applicability of Cost Records and Cost Audit and Non-Compliance with various provisions with regard to Cost Records/Audit results ...
Company Law : Navigate the complexities of Cost Auditor appointments, remuneration, removal, and resignation under the Companies Act, 2013. Lear...
Company Law : The article provides an in-depth understanding of provisions related to maintenance of cost records and applicability of cost audi...
CA, CS, CMA : Explore the when, why, and how of appointing a cost auditor under the Companies Act. Learn about eligibility, procedure, and conse...
CA, CS, CMA : Explore revised CAS-2 (2024) standard for capacity determination, issued by Institute of Cost Accountants of India, ensuring consi...
Income Tax : Learn how to prepare Inventory Valuation Reports under Section 142(2A) of the Income Tax Act, 1961 with our comprehensive Guidance...
CA, CS, CMA : ICMAI issues advisory for members regarding Annexures in Cost Audit Reports & timely submission. Ensure compliance for statutory r...
CA, CS, CMA : ICMAI has published an Exposure Draft on revised Cost Accounting Standard (CAS-2) for Capacity Determination. Learn about changes ...
CA, CS, CMA : CAASB Request for Comments on Exposure Draft of the Revised Standards on Cost Auditing (SCAs) Second Proviso to Section 148(3) of...
Company Law : Pursuant to introduction of GST, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to incorporate resultant cha...
Company Law : As per provisions of the Cost Audit Report Rules that are in force from time-to-time, a cost auditor is required to comment on ...
Explore Cost Accounting under Section 148 of the Companies Act, 2013, its requirements, and practical challenges faced by industries in implementing cost accounting practices.
In order to ensure that the inventory is valued in accordance with various provisions of law, it is proposed to amend section 142 of the Act relating to Inquiry before assessment to ensure the following:-(i) To enable the Assessing Officer to direct the assessee to get the inventory valued by a cost accountant,
Discover the crucial role of Cost & Management Accounting in delivering affordable and quality healthcare services. Uncover the need for cost reform in the healthcare sector, exploring the challenges and benefits. Explore the impact of India’s largest health insurance scheme, ABPM-JAY, and the importance of effective cost management in achieving equitable healthcare for all.
CAASB Request for Comments on Exposure Draft of the Revised Standards on Cost Auditing (SCAs) Second Proviso to Section 148(3) of the Companies Act, 2013 states that the auditor conducting cost audit shall comply with the cost auditing standards. As per ‘Explanation’ below this proviso, the expression ‘cost auditing standards’ mean such standards as issued by […]
Most of the students thought that the topic STANDARD COSTING is very time consuming and have covered only 5-10 marks in Exams, so chal yr leave it, itne me to koi aur topic cover kr lege. Actually the problem is not that we can’t understand the concepts of this chapter, but the issue is to […]
I. Introduction: Determining costing in a service industry is an essential concept since every service organization needs to ascertain its business overheads as service sector companies provide their customers with services or intangible products. Put simply, the term service costing or operational costing refers to the computation of the total operational cost incurred on each […]
Determining an appropriate costing of your product can make or break your business. Most business owners fail to understand the importance of costing which can actually help your business avoid running into troubles such as loss of profits, time mismanagement and over budgeting.
Advisory on the Treatment of various items of Cost in light of Covid-19 pandemic & their Presentation / Disclosures in form CRA 3 of The Companies (Cost Records & Audit) Rules 2014 relating to the Accounting Period ending March 31, 2021
The fixed Overhead amount is constant per period; the cost per unit of production varies with the volume, this variation is inverse since with increase in production, Cost per unit decreases as the same amount of fixed overheads is spread over larger units of production. As Graphical representation given below- Example:- Case Output […]
CAS-4 (REVISED 2018) COST ACCOUNTING STANDARD ON COST OF PRODUCTION / ACQUISITION / SUPPLY OF GOODS / PROVISION OF SERVICES The following is the Cost Accounting Standard (CAS-4) (Revised 2018) on “COST OF PRODUCTION / ACQUISITION / SUPPLY OF GOODS / PROVISION OF SERVICES” issued by the Council of the Institute of Cost Accountants of […]
