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Unpacking Cost Records and Cost Audit: Key Compliance for Indian Companies under the Companies Act, 2013

Company Law : Section 148 of India's Companies Act mandates cost record maintenance (Form CRA-1) for companies in specified sectors with over Rs...

October 7, 2025 3117 Views 0 comment Print

Cost Records & Audit in Construction Industry: Applicability & Benefits

CA, CS, CMA : Understand cost records and audit rules for the construction industry, including applicability, special features, and benefits for...

February 8, 2025 3924 Views 4 comments Print

Cost Saving Ideas in Overheads Cost through Cost Records, Cost Audit and Cost Reporting System

CA, CS, CMA : Explore effective cost-saving strategies for overheads using cost records, audits, and reports. Learn classification, MIS reportin...

January 10, 2025 2136 Views 2 comments Print

Cost Saving in Employee Costs via Cost Records, Audits & Reporting System

CA, CS, CMA : Learn how cost records, audits, and analytical reports help reduce employee costs in various industries and improve efficiency in ...

December 5, 2024 954 Views 0 comment Print

Govt. report on Cost Accounting Records & Cost Audit 2024

Company Law : Explore ICMAI detailed analysis of the Govt. committee report on enhancing cost audit effectiveness. Read insights & recommendatio...

July 10, 2024 5625 Views 0 comment Print


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Technical Guide on Cost Management in Healthcare Services

CA, CS, CMA : The Institute of Cost Accountants of India releases an Exposure Draft on Cost Management in Healthcare Services. Public comments a...

February 16, 2025 912 Views 0 comment Print

Govt. report on Cost Accounting Records & Cost Audit 2024

Company Law : Explore ICMAI detailed analysis of the Govt. committee report on enhancing cost audit effectiveness. Read insights & recommendatio...

July 10, 2024 5625 Views 0 comment Print

CAS-2 (Revised 2024) Cost Accounting Standard on Capacity Determination

CA, CS, CMA : Explore revised CAS-2 (2024) standard for capacity determination, issued by Institute of Cost Accountants of India, ensuring consi...

May 18, 2024 2790 Views 1 comment Print

Advisory on Treatment of Various Items of Cost in view of COVID19

CA, CS, CMA : Advisory on the Treatment of various items of Cost in light of Covid-19 pandemic & their Presentation / Disclosures in form CRA 3 ...

April 4, 2021 1152 Views 0 comment Print

Advisory on Filing of Cost Audit Report for year 2017-18

Company Law : The companies which produce products covered under excise even after July 1st, 2017 will continue to furnish the information in t...

July 17, 2018 7875 Views 2 comments Print


Latest Notifications


Guidelines for Mandatory Communication to Preceding Cost Auditor

CA, CS, CMA : A detailed guide from Institute of Cost Accountants of India about mandatory communication regulations for Cost Accountants. Under...

May 26, 2023 1779 Views 0 comment Print

Companies (cost records and audit) Amendment Rules, 2018

Company Law : MCA notifies Companies (cost records and audit) Amendment Rules, 2018 to further amend Companies (cost records and audit) Rules, 2...

December 3, 2018 9342 Views 0 comment Print

GST details in Draft Companies (Cost Records and Audit) Amendment Rules, 2018

Company Law : Pursuant to introduction of GST, the Companies (Cost Records and Audit) Rules, 2014 are to be amended to incorporate resultant cha...

August 6, 2018 4137 Views 0 comment Print

Companies (Cost Records and Audit) Amendment Rules, 2017

Company Law : 1. These rules may be called the Companies (cost records and audit) Amendment Rules, 2017. 2. In the Companies (cost records and a...

December 7, 2017 3333 Views 0 comment Print

Revised Master Circular on Cost Accounting Records and Cost Audit

Company Law : 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 ...

November 11, 2017 3312 Views 0 comment Print


Cost Record Maintenance & Audit applicability under Companies Act, 2013

January 15, 2024 32175 Views 0 comment Print

The article provides an in-depth understanding of provisions related to maintenance of cost records and applicability of cost audit under Companies Act, 2013.

Cost Auditor Appointment: Regulations, Procedure & Consequences

November 24, 2023 41187 Views 1 comment Print

Explore the when, why, and how of appointing a cost auditor under the Companies Act. Learn about eligibility, procedure, and consequences of non-compliance.

COST AUDIT: A Comprehensive Guide to Cost Accounting Compliance

November 16, 2023 3762 Views 0 comment Print

Article explains essentials of cost audits, from scope to consequences for non-compliance. Understand rules, regulations, and conduct to ensure accurate cost reporting.

What is a Cost Sheet and Its Format: A Comprehensive Guide

November 4, 2023 6915 Views 1 comment Print

In this comprehensive guide, we will explore the intricacies of cost sheets, their purpose, the format they follow, and their profound impact on decision-making within organizations.

Cost Records Maintenance- Applicability Criteria & How to maintain records

August 21, 2023 27591 Views 0 comment Print

Explore the essentials of Cost Records Maintenance as per Companies Act. Learn criteria, exemptions, formats, and importance of compliance.

Guidelines for Mandatory Communication to Preceding Cost Auditor

May 26, 2023 1779 Views 0 comment Print

A detailed guide from Institute of Cost Accountants of India about mandatory communication regulations for Cost Accountants. Understand format and implications of non-compliance.

Applicability of Cost Audit & Maintenance of Cost Records in Construction Industry

May 3, 2023 182814 Views 2 comments Print

Understand the applicability of Cost Audit and Maintenance of Cost Records in the Construction Industry. Learn about rules, coverage, turnover criteria, and the duties of companies for appointment of cost auditors. Explore different Construction Project Models like PPP, Real Estate Development, and EPC Contracting. Consequences of non-compliance and steps required for maintaining cost records. Expert insights shared by Guruprakash N. Bhambore, Secretary-The Bombay Commodity Association Ltd.

Applicability of Cost Records as per Companies Act, 2013

April 22, 2023 40413 Views 3 comments Print

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.

Role of Cost Accountant in inventory valuation under Income Tax

April 7, 2023 3327 Views 0 comment Print

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.

How Digital Technology can Transform Cost Management

March 31, 2023 1437 Views 0 comment Print

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.”

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