CA, CS, CMA : Understand cost records and audit rules for the construction industry, including applicability, special features, and benefits for...
CA, CS, CMA : Explore effective cost-saving strategies for overheads using cost records, audits, and reports. Learn classification, MIS reportin...
CA, CS, CMA : Learn how cost records, audits, and analytical reports help reduce employee costs in various industries and improve efficiency in ...
CA, CS, CMA : Discover how cost audit reports assist industries in optimizing resources, reducing costs, and improving profitability through det...
CA, CS, CMA : Discover cost-saving strategies for material costs in manufacturing through efficient cost records, audits, and reporting systems....
CA, CS, CMA : The Institute of Cost Accountants of India releases an Exposure Draft on Cost Management in Healthcare Services. Public comments a...
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 : 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...
Explore the practical approach to conducting cost audits in various industries, covering the basics of cost audit, audit program, data collection, analysis, and key areas for comments and conclusions. Written by CMA Alokesh Dutta, a practicing Cost & Management Accountant with over 30 years of industry experience.
Explore the significance of compliance with Cost Audit Standards and the Ministry of Corporate Affairs (MCA) review of Cost Audit Reports. Learn about the approved Cost Auditing Standards and the governments reliance on certified data submitted by professionals for effective policy-making. Understand the MCAs issuance of notices for the review of Cost Audit Reports and the importance of submitting reliable data. Stay informed about the government’s actions to ensure accurate and benchmarked costing data for policy-makers.
Understand the importance of cost audit and cost records for companies. Learn how maintaining proper cost records can help improve financial transparency.
Understand the treatment of special expenses in cost accounting. Learn about the treatment of research and development costs according to CAS 18.
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 […]
Discover the impact of non-appointment of cost auditors for 2017-18 and the notices issued. Understand the challenges faced by compliance officers and the consequences of non-compliance.
Get insights into the provision and applicability of Cost Audit and Cost Auditor on Companies. Understand the reasons behind receiving a Notice from the Cost Department.
All of us have started experiencing the heat towards the compliance mechanisms being put up by the statutory/regulatory authorities. As the Cost Records and GST records both use the HSN codes for reporting purposes, leniency in the maintenance of cost records or missing out on getting the cost audit conducted can cost a lot to the organisations.
Companies (Cost Records and Audit) Rules, 2014 will be applicable in this case, subject to it meeting with the prescribed turnover threshold. However, if the company is engaged only in development of the software and not providing online education services, then it will not be covered under the said rules.
FILLING OF EFORM 23C – Form of application to the Central Government for appointment of cost auditor Attachments required with EFORM 23C ♦ Copy of the Board resolution of the company sanctioning the proposal for which the government approval has been sought is a mandatory attachment. ♦ Copy of the certificate obtained from cost auditor […]
