Company Law - Explore the essentials of Cost Records Maintenance as per Companies Act. Learn criteria, exemptions, formats, and importance of compliance....
Company Law - Construction Industry – Applicability of Cost Audit & Maintenance of Cost Records First of all anyone has to check whether the Cost Audit or maintenance of cost records are /were applicable on the industry or not. So to check we have to go through these condition which are given below:- The Central Government issued Amended [&hellip...
Company Law - 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....
Company Law - What is Inventory valuation? What is the Role of Cost Accountant in inventory valuation under Income Tax? Inventory valuation refers to the process of assigning a monetary value to the goods or products that a business holds in its inventory at a specific point in time. It is an important accounting practice that allows businesses [&helli...
Company Law - The profession of cost management and cost professional needs sea change to keep the current state of the global economy. Running a business in uncertain economic times has now become routine. Covid, the Ukraine-Russia war, fluctuating inflations, political uncertainty, rising interest rates and liquidity crunch from the backend have led ...
Company Law - 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...
Company Law - The companies which produce products covered under excise even after July 1st, 2017 will continue to furnish the information in the same format provided by the Companies (Cost Records and Audit) Amendment Rules, 2017. The companies having their products or services covered under GST may follow the guidance provided in this advisory....
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....
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....
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...
Notification No. Ref:G/128/05/2023 - (26/05/2023) - A detailed guide from Institute of Cost Accountants of India about mandatory communication regulations for Cost Accountants. Understand format and implications of non-compliance....
G.S.R.1157(E). - (03/12/2018) - MCA notifies Companies (cost records and audit) Amendment Rules, 2018 to further amend Companies (cost records and audit) Rules, 2014....
NA - (06/08/2018) - Pursuant to introduction of GST, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to incorporate resultant changes. Accordingly, the Draft Companies (Cost Records and Audit) Amendment Rules, 2018 have been placed on the Ministry's website www.mca.gov.in for suggestions/ comments....
G.S.R. 1498(E) - (07/12/2017) - 1. These rules may be called the Companies (cost records and audit) Amendment Rules, 2017. 2. In the Companies (cost records and audit) Rules, 2014 (hereinafter referred to as the principal rules), in rule 2, after clause (f), the following clause shall be inserted and shall be deemed to have been i...
Master Circular No. 2/2011 - (11/11/2017) - As per provisions of the Cost Audit Report Rules that are in force from time-to-time, a cost auditor is required to comment on the scope and performance of internal audit of cost records. Hence it would tend to mitigate against the proper and dispassionate discharge of his duties if he was also t...
Notification No. Ref:G/128/05/2023 - 26/05/2023