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...
MCA has started identifying the companies who have not complied with the provisions with regard to the appointment of Cost Auditor due to ignorance or otherwise and have started issuing the notices like the one as is given below as preliminary Notices for year FY 2016-17.
Extension of last date of filing Cost Audit Report by MCA vide General Circular No. 15/2021 Dtd. 27th September, 2021 The MCA vide its General Circular dtd. 27th September, 2021, has extended the last date of filing Cost Audit Report (CAR) to the Board of Directors under rule 6(5) of the Companies (Cost Records and Audit) […]
Representations have been received from various stakeholders for extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014 due to impact of COVID-19 pandemic.
All About Cost Audit Applicability and its disclosures in other statutory documents The pandemic has again brought the focus on the importance of cost management of resources in the most effective and most efficient manner. The government of India had already mandated the maintenance of Cost Records and Cost audits under Companies Act 2013. Through […]
I. Introduction: Determining costing in a service industry is an essential concept since every service organization needs to ascertain its business overheads as service sector companies provide their customers with services or intangible products. Put simply, the term service costing or operational costing refers to the computation of the total operational cost incurred on each […]
Determining an appropriate costing of your product can make or break your business. Most business owners fail to understand the importance of costing which can actually help your business avoid running into troubles such as loss of profits, time mismanagement and over budgeting.
Advisory on the Treatment of various items of Cost in light of Covid-19 pandemic & their Presentation / Disclosures in form CRA 3 of The Companies (Cost Records & Audit) Rules 2014 relating to the Accounting Period ending March 31, 2021
Pursuant to section 148 of the Company Act 2013 read with Cost (Records and Audit) Rules 2014 for appointment of Cost auditor in the company: Every company specified in item (A) of rule 3 i.e, of Regulated sectors having overall annual turnover of the company from all its products and services during the immediately preceding financial […]
A cost audit represents the verification of cost accounts and checking on the adherence to cost accounting plan. Cost audit ascertains the accuracy of cost accounting records to ensure that they are in conformity with cost accounting principles, plans, procedures and objectives. A cost audit comprises the following; -Verification of the cost accounting records such as the accuracy of the cost accounts, cost reports, cost […]
Relaxation of additional fees and extension of last date for filing Cost Audit Report (Form CRA-4) for the Financial Year 2019-20 under the Companies Act, 2013 (Act): Applicability of Cost Records: The class of Companies which must maintain cost records is specified in the Section 148 (1) of the Act. The category of companies is […]
