CA, CS, CMA : Ensure timely compliance with the 2023-24 Cost Audit timeline. Promptly report any deviations to the Ministry of Corporate Affairs...
CA, CS, CMA : Applicability of Cost Records and Cost Audit and Non-Compliance with various provisions with regard to Cost Records/Audit results ...
CA, CS, CMA : Starting the journey of becoming a Chartered Accountant (CA), Company Secretary (CS), or Cost and Management Accountant (CMA) is n...
CA, CS, CMA : जानें कि एक स्वस्थ पेशेवर जीवनशैली कैसे बनाए रखे...
CA, CS, CMA : Enhance client management for professionals like Chartered Accountants, Company Secretaries, and Cost Accountants using Excel-base...
Goods and Services Tax : Explore the impact of the 53rd GST Council Meeting recommendations, including waivers on interest and penalties under Section 73, ...
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 : Ministry of Corporate Affairs invites comments on rules review under CA, CWA, and CS Acts. Participate in the consultation process...
CA, CS, CMA : Kolkata High Court judgment on re-evaluation of answer scripts in Cost Accountancy exams. Analysis of regulations and court decisi...
CA, CS, CMA : Delhi High Court restrained Institute Of Cost Accountants Of India from using ICAI acronym, a trademark which stands registered in...
Corporate Law : Sanjay Ghiya Vs Union Of India (Rajasthan High Court) Rajasthan High Court held that CHARTERED ACCOUNTANTS Or COMPANY SECRETARIES ...
CA, CS, CMA : CA V. Venkata Sivakumar Vs. The Secretary, Institute Of Cost Accountants Of India Use of acronym ICAI by Institute of Cost Account...
CA, CS, CMA : Institute of Chartered Accountants of India Vs The Institute of Cost Accountants of India (Delhi High Court) Institute of Chartere...
CA, CS, CMA : Discover the latest amendments to the Chartered Accountants Act by the Ministry of Corporate Affairs. Stay informed with the updat...
CA, CS, CMA : Discover Central Bank's Cent CA/CS/CMA scheme, offering attractive interest rates for finance professionals. Eligibility, benefits...
CA, CS, CMA : Important notification from the Institute of Cost Accountants of India: Exemption in Paper 5 - Business Laws & Ethics for CAT qual...
Income Tax : Inviting comments on the draft Form No. 6C for implementing the amendment made by the Finance Act, 2023 wrt Sub-section (2A) of th...
CA, CS, CMA : The Institute of Cost Accountants of India (ICAI), established under the Cost and Works Accountants Act, 1959, is a statutory body...
In continuation of this Ministry’s Circular No. 2/2012, dated 1st March, 2012 on registration of companies or LLPs where one of their objects is to carry on the profession of Chartered Accountant, Company Secretary, Cost Accountant, Architect, etc.
We, the Cost and Management Accountants, also need to Invest to serve the community. But there is a difference between the investment of a businessman and a professional Accountant. The Investment of a businessman mainly comprises monetary matters whereas the investment of a CMA comprises time. We have to invest our time to enhance our competencies and better serve the society. This can be done by acquiring knowledge about the current changes as the present day economy is vibrant and volatile.
Filing of cost audit report with Central Government.- Every cost auditor or every lead cost auditor on behalf of all the cost auditors of a company, has to file its cost audit report and other documents as required under sub-section (4) of section 233B of the Act, and rules made thereunder with the Central Government using the Extensible Business Reporting Language (XBRL) Taxonomy given in Annexure III
The MCA XBRL Validation Tool (for costing taxonomy) has been developed and is currently under testing. The tool is likely to be released on 24th November, 2012. Filing of the Cost Audit Report and Compliance report on the MCA portal shall be enabled thereafter.
Since 2nd May 2011 to 6th November 2012, Costing Profession of CMA passes through Sea Level changes; desired destination of the Central Government, Ministry of Company Affairs to cover all production, processing, manufacturing and mining companies (meeting specific criteria) under Cost Accounting Records ;Cost Compliance as per Section (d) of 1 of 209 and Cost Audit as per Sec 233B of Companies Act 1956.
No doubt, Chartered Accountancy course has enjoyed wide popularity but CMA and CS courses too have been gaining popularity over the last few years. Particularly, growth in numbers of students enrolled for CMA is far more than any other course in India. This is because of cost awareness amongst the business entrepreneurs due to growing competition in the market, and this has resulted in increased demand for CMA.
Order [F. No. 52/26/CAB-2010], Dated 6-11-2012 – Consequent upon notification of the Product or Activity Group classification published vide S.O. 1747(E) dated 7th August, 2012 and in supersession of the earlier Orders issued vide even number dated 2nd May 2011, 3rd May 2011, 30th June 2011 and 24th January 2012, the Central Government hereby makes the following Order.
Ministry of Corporate Affairs vide General Circular No. 15/2011, dated April 11, 2011 had prescribed a revised procedure to be followed for appointment of cost auditors. As per the revised procedure, each company is required to e-file its application with the Central Government in the prescribed Form 23C within ninety days from the date of commencement of each financial year, which shall be approved by MCA within 30 days.
The Central Government vide the following notifications, has allowed cost accountants in full time employment, in addition to certification by members in full-time practice, to certify the Compliance Report to be filed with the Central Government in compliance with the following rules, namely:-
I am glad to inform the members that on incessant representations of the Institute, Ministry of Commerce and Industry, Department of Commerce vide its Public Notice No. 22 (RE-2012)/2009-14 dated 11th October, 2012 has authorized Cost Accountants for certification of various documents under Handbook of Procedure Vol. I and Appendices under Foreign Trade Policy 2009-14.
