Get More What Are The Cost Records To Be Maintained References

50 Crore Or More And Aggregate Turnover From Individual Product / Services For Which Cost Records Are Required To Be Maintained Is Rs.

(a) cra3 (b) cra1 (c) cra 4 (d) cra 2 35. Cost accounting standards issued by the institute of cost accountants of india. Gst data & cost records/cost audit annexures to be maintained as per the headings of customs tariff headings:

Cost Accounting Records Are To Be Maintained As Per The Companies (Cost Accounting Records) Rules, 2011, And;

Type of records to be maintained or the period for which the records would be preserved. This is the principal ledger in which the impersonal accounts (nominal and real accounts) are recorded. Under the companies act, 2013, company industrial activity has been classified under two.

Maintenance Of Cost Records Are Left Open For The Sectors / Industries, But They Shall Be In A Manner To Ascertain True And Fair View Of Cost Of.

Cost records to be maintained by companies. Here material price means actual cost incurred by taking price quoted by supplier as the basis subtracting the discounts and adding any other expenses not covered in it. Section 148(2) of the act, read with rule 4 of companies (cost records and audit) rules 2014 empowers the central government to order in respect of such class of companies to get the cost records maintained audited from the cost accountant.

(A) Overall Annual Turnover From All Products / Services Is Of Rs.

Section 209 of the companies act 1956 deals with the books of accounts to be maintained by a body corporate. Discuss the area of activity for whuch accounting record are to be maintained under cost accounting record rule 1 see answer tarunghosh7528 is waiting for your help. As per sub rule (2) of rule 4,of cost accounting (records) rules , 2011 the companies are required to maintain cost records on regular basis in such manner so as to make it possible to calculate per unit cost of production or cost of operations, cost of sales and margin for each of its products and.

Only Principles As Stated Are Required To Be Followed With Respect To Different Cost Elements Like Material Costs, Employee Costs, Direct Expenses, Repair And Maintenance, Fixed Assets And Depreciation.

Non applicability of cost audit: It is normally kept outside the stores and it is used to determine the value of materials, i.e., pricing of materials issues. The aggregate turnover of the products and services for which cost records are required to be maintained is inr 250 million or inr 350 million (us$3.5 million or us$4.9 million) depending on whether the company’s sector is regulated or unregulated.