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 : CAS-25 standardizes principles for inventory valuation, including cost components and NRV rules. It applies from 12 February 2026 ...
Corporate Law : The Competition Commission of India seeks public feedback on the draft Cost of Production Regulations 2025, replacing the 2009 rul...
CA, CS, CMA : The Institute of Cost Accountants of India releases an Exposure Draft on Cost Management in Healthcare Services. Public comments a...
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...
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 ...
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.
Government of India, Ministry of Corporate Affairs, vide their letter no. 52/33/CAB/2013 dated 10th September, 2015 has, under section 148(3) of the Companies Act, 2013, granted Central Government’s approval to the following Cost Auditing Standards:
APPOINTMENT OF COST AUDITORS – The audit under sub-section (2) of Section 148 of the Companies Act, 2013 (Act) shall be conducted by a Cost Accountant in practice who shall be appointed by the Board on such remuneration as may be determined by the members (that means Shareholders to fix remuneration) in a following manner:
In my second series in continuation to my previous article ‘Costing Methods/Cost Management in Turkey-Series 1′ I would be discussing about one of the researches on one of the world’s most luxury automobile company where adoption of Cost Management and Costing Methods made a stupendous turn around. The story is all about shifting of accounting […]
The Indian government under the UPA II has abolished the Cost Audit and Costing methods for various industries under ( Cost Record and Audit ) Rules -2014 . In my research I went in deep into the different countries, developed as well as emerging economies over the span of last 10 years I find the development/growth & […]
Well COST AUDIT and COSTING METHODS have been abolished with the blessing of the lovers of the profession. The banking industry has undergone a sea change after the first phase of economic liberalization in 1991 and hence credit management. Well credit management in India in the recent times has been a key concern. I will […]
As per my experience generally CA,CMA,CS AND LL.B (particularly advocates who are tax practioners) – all are basically experts and can do related jobs if required to do so. However, some specialization and reservations are order of the day in any society and system.
Institute of Cost Accountants of India has released CAS-17: COST ACCOUNTING STANDARD ON INTEREST AND FINANCING CHARGES on 23/05/2013. This article is a step towards interpretation and explanation of various aspect of the said Cost Accounting Standard
