Company Law : Explore ICMAI detailed analysis of the Govt. committee report on enhancing cost audit effectiveness. Read insights & recommendatio...
CA, CS, CMA : Discover the latest recommendations by MCA & FM's Committee to expand cost audit rules in India. Explore changes in turnover limit...
CA, CS, CMA : Understand Cost Audit applicability for 2024-25. Learn about non-compliance consequences and how to avoid show cause notices. Insi...
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 : Explore ICMAI detailed analysis of the Govt. committee report on enhancing cost audit effectiveness. Read insights & recommendatio...
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 : Discover how Institute of Cost Accountants of India assists in inventory valuation under Income Tax Section 142(2A). Insights on r...
CA, CS, CMA : A detailed guide from Institute of Cost Accountants of India about mandatory communication regulations for Cost Accountants. Under...
Company Law : Representations have been received from various stakeholders for extension of last date of filing of Cost Audit Report to the Boar...
Company Law : It has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the Board of Directors of the ...
Company Law : General Circular No. 17/2019- Last date of filing of CRA-4 (cost audit report) for all eligible companies for the Financial Year 2...
Company Law : The companies who have already filed their Cost Audit Report in form CRA-4 for the financial year 2018-19 with the Central Governm...
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 & […]
On a short notice myself and Vice President had a meeting with Additional Secretary and other officials of Ministry of Corporate Affairs and Cost Audit Branch, wherein s preliminary discussion on different issues, as pointed out in annexure I&II of the letter dated 2nd July 2014 addressed to Secretary, MCA, was held.
Well India has presented its Budget and billions of analysis has been already executed. Well I find that this budget would be finding a hard place to land due to the recent COST AUDIT & COSTING METHODS abolishment. Now my readers my say that extrapolating and trying to mix cost audit in everything I write. […]
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 […]
In my previous article titled –Affect Of Removal of Cost Audit In Various Industries, I got couple of queries about the value of cost audit and cost methods compared to financial audit. Well I am not inclined to get into the long debate but only thing I would clarify if I don’t develop uniform costing […]
Till date we are asking for our rights but now the time has come to let the world know that what this profession of COST ACCOUNTING and COST AUDIT has been doing for the Indian economy. The time has come to raise the values and the benefits the COST AUDIT and COST ACCOUNTING profession provides […]
Ministry of Corporate Affairs has notified the Companies (Cost records and audit) Rules 2014 under sections 148 & 469 Companies Act 2013 on 30th June 2014. These rules have lot of questions among the finance professionals about the limited scope of Cost records maintenance and Audit. Compare to the previous Companies Cost records & Audit rules 2011, most of the sectors are out of coverage under these new rules. I hereby discussing about the highlights & main points in the Companies (Cost records and Audit) Rules 2014.
These records shall also indicate the basis followed for arriving at the rates charged or paid for such goods or services so as to enable determination of the reasonableness of such rates in so far as they are in any way related to goods/services under reference.
It has now been decided to extend the last date of filing and to relax the additional fee applicable on e-form 23C to 30th November, 2013 or within 30 days of the commencement of the company’s financial year to which the appointment relates, whichever is later.
