cost records

Analysis of Companies (cost records and audit) Amendment Rules, 2017

Company Law - The Ministry of Corporate Affairs, Government of India vide its communication dated August 11,2017 had requested suggestions/comments on the proposed changes in respect of above rules, last issued titled Companies (cost records and audit) Amendment Rules, 2014 Though the last date of submission of suggestions has already lapsed, the write...

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GST and SCNs issued by MCA for non compliance with Cost Audit Provisions

Company Law - 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...

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A vital role of Business Economist in taking Business Decisions

Company Law - Neha Dinde As we all aware that business economics is the application of economic theory and methodology to business. Business economics is a field where it uses economic theory & quantitative methods to analyze business enterprises. Business involves decision making. Decision making means the process of selecting one out of two or mo...

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Comparison of Companies Cost records & audit Rules, 2016 with 2014 Rules

Company Law - Comparative Statement showing Original Rules 2014 i.e. Companies (cost records and audit) Rules,2014 vis-a-vis Amendment Rules 2016 i.e. Companies (cost records and audit) Amendment Rules, 2016 – issued on 14th July 2016 Notes: All additions are shown in red and deletions are shown in blue. Entire Rules are not given; only changes h...

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Summary of changes as per Draft Companies (Cost Records and Audit) Amendment Rules, 2017

Company Law - Pursuant to implementation of IndAS, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to bring parity between financial records and cost records. Accordingly, the Draft Companies (Cost Records and Audit) Amendment Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments....

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Draft Companies (cost records and audit) Amendment Rules, 2017

Company Law - 1. Material Costs-(a) Proper records shall be maintained showing separately all receipts, issues and balances both in quantities and cost of each item of raw material required for the production of goods or rendering of services under reference....

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CAASB Invites Suggestion on Draft Guidance Note SCA 101

Company Law - 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...

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MCA releases Revised Form 23C, Form 23D, Form I-XBRL & Form A-XBRL

Company Law - The Ministry of Corporate Affairs has released the new forms relevant to Costing Rules prior to Companies (Cost Records and Audit) Rules 2014: FORM 23C [Pursuant to section 233B(2) of Companies Act, 1956]: Form of application to the Central Government for appointment of cost auditor FORM 23D [Pursuant to section 233B(2) of Companies Act, ...

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CII opposed new Companies Bill proposal to make maintenance of cost records mandatory

Company Law - Taking up cudgels on behalf of corporate India, the Confederation of Indian Industry (CII) has expressed itself against making maintenance of cost records mandatory as suggested by the parliamentary standing committee that has studied the Companies B...

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Recent Posts in "cost records"

Analysis of Companies (cost records and audit) Amendment Rules, 2017

The Ministry of Corporate Affairs, Government of India vide its communication dated August 11,2017 had requested suggestions/comments on the proposed changes in respect of above rules, last issued titled Companies (cost records and audit) Amendment Rules, 2014 Though the last date of submission of suggestions has already lapsed, the write...

Read More
Posted Under: Company Law |

Summary of changes as per Draft Companies (Cost Records and Audit) Amendment Rules, 2017

Pursuant to implementation of IndAS, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to bring parity between financial records and cost records. Accordingly, the Draft Companies (Cost Records and Audit) Amendment Rules, 2017 have been placed on the Ministry’s website www.mca.gov.in for suggestions/ comments....

Read More
Posted Under: Company Law |

Draft Companies (cost records and audit) Amendment Rules, 2017

F.No. 1/40/2013 - CL - V

1. Material Costs-(a) Proper records shall be maintained showing separately all receipts, issues and balances both in quantities and cost of each item of raw material required for the production of goods or rendering of services under reference....

Read More
Posted Under: Company Law |

CAASB Invites Suggestion on Draft Guidance Note SCA 101

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...

Read More
Posted Under: Company Law |

GST and SCNs issued by MCA for non compliance with Cost Audit Provisions

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...

Read More
Posted Under: Company Law |

MCA releases Revised Form 23C, Form 23D, Form I-XBRL & Form A-XBRL

The Ministry of Corporate Affairs has released the new forms relevant to Costing Rules prior to Companies (Cost Records and Audit) Rules 2014: FORM 23C [Pursuant to section 233B(2) of Companies Act, 1956]: Form of application to the Central Government for appointment of cost auditor FORM 23D [Pursuant to section 233B(2) of Companies Act, ...

Read More
Posted Under: Company Law |

A vital role of Business Economist in taking Business Decisions

Neha Dinde As we all aware that business economics is the application of economic theory and methodology to business. Business economics is a field where it uses economic theory & quantitative methods to analyze business enterprises. Business involves decision making. Decision making means the process of selecting one out of two or mo...

Read More
Posted Under: Company Law |

Comparison of Companies Cost records & audit Rules, 2016 with 2014 Rules

Comparative Statement showing Original Rules 2014 i.e. Companies (cost records and audit) Rules,2014 vis-a-vis Amendment Rules 2016 i.e. Companies (cost records and audit) Amendment Rules, 2016 – issued on 14th July 2016 Notes: All additions are shown in red and deletions are shown in blue. Entire Rules are not given; only changes h...

Read More
Posted Under: Company Law |

CII opposed new Companies Bill proposal to make maintenance of cost records mandatory

Taking up cudgels on behalf of corporate India, the Confederation of Indian Industry (CII) has expressed itself against making maintenance of cost records mandatory as suggested by the parliamentary standing committee that has studied the Companies B...

Read More
Posted Under: Company Law |

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