The term “Cost Statements” refers to a structured representation of the cost information, which ordinarily includes accompanying notes, derived from cost accounting records and intended to communicate an entity’s use

As professionals in the field of Cost and Management Accounting, the members of the Institute are bound by a code of professional ethics. This code stipulates and binds them to

The Cost Auditor appointed shall submit a certificate that – (a) The individual or the firm, as the case may be, is eligible for appointment and is not disqualified for

Cost Accounting Policy of a company state the policy adopted by the company for the treatment of individual cost components in cost determination. The Cost Accounting system of a company,

The need for determining “production capacity” in respect of industrial organization in India arises from the following reasons:- • To meet the requirement under Section 129 of the Companies Act,

The steps of management audit are :– 1. Select an area of operation of management 2. Establish what should be the objective, standard or target of the operation. 3. Determine

Internal Auditing, on the other hand, is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the Organisation. The objective of

Internal Check is a system of instituting checking of the day-to-day transactions as part of the routine system, whereby the work of one person is checked independently or is complimentary

Section 17(2) of the Co-operative Societies Act, 1912 specifically requires the auditor to conduct an examination of the overdue debts, if any, and a valuation of the assets and liabilities

The Internal Auditor should review the control system to ensure that all assets are accounted for fully. He/she should review the means used for safeguarding assets against losses viz, fire,