Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: articles on VAT and GST in India :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: VAT Audit :: TDS :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: empanelment :: ACCOUNTING STANDARD :: form 3cd :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act

Group reviewing cost accounting norms forms 6 sub-groups
March, 29th 2008
A Ministry of Corporate Affairs-constituted expert group to review the existing cost accounting standards and cost audit report rules has further divided itself into six sub-groups.

Official sources said that the sub-groups will look into specific issues like confidentiality of cost data, cost accounting standards, consultations with trade bodies, cost accounting record rules, and other areas where cost accounting rules and auditing can be applicable.

The six sub-groups would also look into other areas that would include Government projects, public utilities, material costs, transportation costs, production, operations and administrative overheads, the official said.

The Ministry in January had set up an expert panel for developing relevant cost accounting methodologies and standards which would enable increasing the competitiveness of the Indian manufacturing sector.

The panel would review the existing cost accounting standards and audit rules in context of the current economic environment determined by increasing competition both domestically and internationally.

The expert panel has already met twice, the official said.

Cost accounting, through the determination and allocation of costs to various products, provides a valuable service to the companies managements in cost analysis and control.

This can help improve efficiency in the use of materials, labour and plants, maximise production and realise greater profits, he said.

 Besides, cost analysis furnishes useful information in respect of matters such as gross margins, and differential and replacement costs, the official added.

Cost analysis can be useful to the regulators of public utilities and provide a basis for comparing claims and assessing the validity of issues arising out of international trade, he said.

The expert group has been asked to complete its task latest by September 30.

The official said that the group can submit interim reports to the Government at its discretion.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions