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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 1101 Views 0 comment Print

Comply without delay with timeline of Cost Audit 2023-24

CA, CS, CMA : Ensure timely compliance with the 2023-24 Cost Audit timeline. Promptly report any deviations to the Ministry of Corporate Affairs...

May 15, 2024 1842 Views 0 comment Print

Applicability & Non-Compliance in Cost Records/Audit: MCA Notices & ICMAI Advisory

CA, CS, CMA : Applicability of Cost Records and Cost Audit and Non-Compliance with various provisions with regard to Cost Records/Audit results ...

May 13, 2024 9534 Views 0 comment Print

Cost Auditor Appointment & Compliance Under Companies Act 2013

Company Law : Navigate the complexities of Cost Auditor appointments, remuneration, removal, and resignation under the Companies Act, 2013. Lear...

January 22, 2024 4245 Views 0 comment Print

Cost Record Maintenance & Audit applicability under Companies Act, 2013

Company Law : The article provides an in-depth understanding of provisions related to maintenance of cost records and applicability of cost audi...

January 15, 2024 16590 Views 0 comment Print


Latest News


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 1101 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 342 Views 0 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 939 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 7428 Views 2 comments Print

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 ...

August 13, 2017 2226 Views 0 comment 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 1050 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 8430 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 3783 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 2751 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 3003 Views 0 comment Print


Need of Cost & Management Accounting & Role in providing healthcare services at affordable prices

January 9, 2023 2076 Views 0 comment Print

Discover the crucial role of Cost & Management Accounting in delivering affordable and quality healthcare services. Uncover the need for cost reform in the healthcare sector, exploring the challenges and benefits. Explore the impact of India’s largest health insurance scheme, ABPM-JAY, and the importance of effective cost management in achieving equitable healthcare for all.

Practical Approach to Conduct Cost Audit

November 16, 2022 5271 Views 0 comment Print

Explore the practical approach to conducting cost audits in various industries, covering the basics of cost audit, audit program, data collection, analysis, and key areas for comments and conclusions. Written by CMA Alokesh Dutta, a practicing Cost & Management Accountant with over 30 years of industry experience.

Treatment of Special Expenses in Cost Accounting

June 25, 2022 4833 Views 0 comment Print

Understand the treatment of special expenses in cost accounting. Learn about the treatment of research and development costs according to CAS 18.

How to determine Cost Audit & Cost Records Maintenance applicability for reporting in Director’s Report & CARO

May 2, 2022 13179 Views 0 comment Print

All of us have started experiencing the heat towards the compliance mechanisms being put up by the statutory/regulatory authorities. As the Cost Records and GST records both use the HSN codes for reporting purposes, leniency in the maintenance of cost records or missing out on getting the cost audit conducted can cost a lot to the organisations.

Strategic Cost management – Healthcare Industry

August 12, 2021 3642 Views 2 comments Print

Hospitals and healthcare systems increasingly face financial pressures from increasing competition, deteriorating payer mix and other factors.  Due to these pressures, Cost reduction and control is at the forefront of healthcare finance leaders’ minds, whether they are a rural, nonprofit, urban or safety-net organization. Healthcare is a manpower intensive industry. Spectrum of manpower is wide ranging from […]

GST Era & Cost Records & Cost Audit Applicability on the basis of HSN

June 19, 2021 39726 Views 2 comments Print

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 […]

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

April 4, 2021 939 Views 0 comment Print

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

Cost Audit under The Companies Act 2013 & Rules

October 19, 2020 237648 Views 2 comments Print

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 […]

Extension of last date for filing Cost Audit for FY 2019-20

September 13, 2020 7095 Views 0 comment Print

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 […]

Cost Records & Audit under Companies Act, 2013 & Rules thereto

May 10, 2019 77562 Views 0 comment Print

This Article is an effort to explain the provisions related to provisions of Cost Records & Audit under Companies Act, 2013 and Rules thereto. 1. DEFINITIONS a) Cost Accountant means a cost accountant as defined in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959 and who holds a valid […]

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