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 ...
1. Material Costs-(a) Proper records shall be maintained showing separately all receipts, issues and balances both in quantities and cost of each item of raw material required for the production of goods or rendering of services under reference.
The following is the Cost Accounting Standard (CAS 17) (Revised 2017) issued by the Council of The Institute of Cost Accountants of India for determination of INTEREST AND FINANCING CHARGES. In this Standard, the standard portions have been set in bold italic type.
he following is the COST ACCOUNTING STANDARD – 16 (CAS – 16) (Revised) issued by the Council of The Institute of Cost Accountants of India on DEPRECIATION AND AMORTISATION. In this Standard, the standard portions have been set in bold italic type.
The following is the COST ACCOUNTING STANDARD – 12 (CAS – 12) (Revised 2017) issued by the Council of The Institute of Cost Accountants of India on REPAIRS AND MAINTENANCE COST. In this Standard, the standard portions have been set in bold italic type.
The following is the COST ACCOUNTING STANDARD 7 (CAS – 7) (Revised 2017) issued by the Council of The Institute of Cost Accountants of India on EMPLOYEE COST. In this Standard, the standard portions have been set in bold italic type.
The following is the COST ACCOUNTING STANDARD 6 (CAS 6) (Revised 2017) issued by the Council of The Institute of Cost Accountants of India on MATERIAL COST. In this Standard, the standard portions have been set in bold italic type.
Limited Revision 2017 on account of IndAs The Revised Cost Accounting Standards (CAS-6, CAS-7, CAS-12, CAS -16 and CAS 17) are as follows: CAS-6 (Revised 2017)- Cost Accounting Standard on Material Cost CAS-7 (Revised 2017)- Cost Accounting Standard on Employee Cost CAS-12 (Revised 2017) – Cost Accounting Standard on Repairs and Maintenance Cost CAS -16 […]
CAASB in its 32nd meeting held on March 21, 2017 considered draft Practical Guide to Standard on Cost Auditing (SCA) 101 – Planning an Audit of Cost Statements
Show Cause Notices (SCNs) issued by MCA for non compliance with the Cost Audit Provisions: Is it a beginning to ensure collection of authenticated data at HSN code level for GST
We wish to inform that the following Standards on Cost Auditing (SCAs) have been forwarded during financial year 2015-16 to the Ministry of Corporate Affairs, Government of India for its approval in terms of proviso to section 148(3) of the Companies Act 2013. These SCAs have been approved by the Cost Auditing & Assurance Standards Board (CAASB) after considering the comments/ suggestions of stakeholders and subsequently also by the Council of the Institute.
