CA, CS, CMA : The amendment introduces strict personal liability for senior management in maintaining cost records. It ensures accountability by...
Income Tax : Inventory Valuation under the Income-tax Act, 2025: A Critical Area for Financial, Tax, and Cost Auditors - Analytical Study of ...
Company Law : MCA has intensified scrutiny of Cost Audit filings and is issuing notices (currently for FY 2020–21) under Section 148(7) of the...
CA, CS, CMA : This explains why power, oil, gas, and coal companies fall under mandatory cost audit regulations. The key takeaway is that meetin...
Company Law : This explains when manufacturing companies must undergo cost audit based on turnover thresholds. The key takeaway is that exceedin...
CA, CS, CMA : ICMAI issues revised Code of Ethics for CMAs, effective June 1, 2025, including independence standards for audit and assurance eng...
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 : 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...
Article, discuss applicability of cost records under Indian law, legal provisions governing them, and procedures for maintaining them in compliance with latest amended rules and laws.
Discover the significance of inventory valuation in income tax and the crucial role cost accountants play in this process. Learn about inventory valuation methods and the responsibilities of cost accountants, including choosing valuation methods, determining costs, maintaining accurate records, ensuring compliance with tax regulations, and coordinating with other departments. Stay informed to ensure accurate and compliant inventory valuation for your business.
Explore how digital technology is reshaping cost management strategies in response to economic uncertainties. Learn about the transformative impact of digital tools, cognitive technologies, and strategic approaches for effective cost management in today’s dynamic business environment.”
Learn about the MCA notice for non-compliance with cost records under Section 148 of the Companies Act 2013, and discover solutions for directors, including appointing a Cost Accountant, maintaining accurate records, rectifying non-compliance, seeking professional advice, and timely communication with the MCA to avoid penalties and legal consequences.
Cost Records Maintenance under Section 148 of Companies Act gains traction. Learn about mandates, notices, and the importance of compliance for corporates.
Discover the crucial role of inventory management control in cost accounting. Learn how it optimizes inventory levels, reduces costs, and boosts profitability.
Learn the importance of cost control techniques in industries. Explore methods like budgeting, standard costing, activity-based costing, inventory management, process improvement, outsourcing, and negotiation.
Price driven costing tools with value engineering can help reduce costs for MSMEs in India. Find out what value analysis can do for cost accountants.
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,
Budget 2023 introduces Concept of inventory valuations by Cost Accountants in specific cases, as granted by Section 142(2A) of income Tax Act.
