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Cost Accountant Services

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COST ACCOUNTANT SERVICES Cost accounting is the process of determining and accumulating the cost of product or activity. It is a process of accounting for the incurrence and the control of cost. It also covers classification, analysis, and interpretation of cost.
Cost accounting has the following main objectives to serve:
  • Determining selling price
  • Controlling cost
  • Providing information for decision-making
  • Ascertaining costing profit
  • Facilitating preparation of financial and other statements.
All companies engaged in activities of production or manufacturing, etc. should maintain cost accounting records relating to the utilisation of materials, labour and other items of cost. Such books of account should facilitate the calculation and disclosure of cost of production and cost of sales of the products at a periodical intervals. Each book of account and the proforma prescribed by the rules should be completed within the prescribed time limit after the end of the relevant financial year of the company. We prepare cost accounting records as per Cost Accounting Record Rules of various companies.

All companies are required to maintain its Cost Records as per the Cost Accounting Records Rules notified by Ministry of Corporate Affairs (MCA). These rules are as follows:

  1. Common rules for all industries
    • The Companies (Cost Accounting Records) Rules, 2011.
  2. Industry Specific Rules
    • The Cost Accounting Records (Telecommunication Industry) Rules 2011.
    • The Cost Accounting Records (Petroleum Industry) Rules 2011.
    • The Cost Accounting Records (Electricity Industry) Rules 2011.
    • The Cost Accounting Records (Sugar Industry) Rules 2011.
    • The Cost Accounting Records (Fertilizer Industry) Rules 2011.
    • The Cost Accounting Records (Pharmaceutical Industry) Rules 2011.

Cost Audit


  • Cost Audit gets reliable data to the Management for its day-to-day operations like price fixing, control, decision making, etc.
  • A close and continuous check an all wastage's will be kept through a proper system of reporting to management.
  • Inefficiencies in the working of the company will be brought to light to facilitate corrective action.
  • Management by exception becomes possible through allocation of responsibilities to individual managers.
  • System of budgetary control and standard costing will be greatly facilitated.
  • Reliable check on valuation of closing stock and work-in-progress can be established.
  • Helps in detection of frauds and errors.
  • Cost Audit ensures that proper records are kept as to purchases and utilisation of material and expenses incurred on wages, etc. It also makes sure that the valuation of closing stock and work-in-progress is on a fair basis. Thus, the shareholders are assured of a fair return on their investment.
  • We carry out the cost audit under section 233B of the Companies Act, 1956.

All companies to which The Companies (Cost Accounting Records) Rules, 2011 apply and which are engaged in the production, processing, manufacturing, or mining of the products/activities and covered under the following criteria:

  1. The aggregate value of the turnover made by the company from sale or supply of all its products or activities during the immediately preceding Financial Year exceeds Rs. 100.00 Crore; or
  2. The company equity or debt securities are listed or are in the process of listing on any stock exchange whether in India or outside India.

Shall get its cost accounting records in respect of each of its financial year commencing on 01st day of January, 2013 audited by a Cost Auditor

Cost Compliance Report (CCR)


CCR Applicable to the following companies with effect from Financial Year 2011- 2012 :

  • The aggregate value of net worth as on last date of the immediate preceding financial year exceed Rs. 5.0 Crores; or
  • The aggregate value of the turnover made by the company from sale or supply of all products or activities during the immediate preceding financial year exceeds Rs. 20.0 Crores; or
  • The company's equity or debt securities are listed or are in the process of listing on any stock exchange, where in India or outside of India.

Internal audit

Internal Audit is useful in ensuring a reliable accounting system. It helps internal monitoring of the effectiveness of control procedures. It helps in generation of reliable financial information depending on the reliability of accounting system itself. This is an indirect help to financial auditors as it reduces their work. Internal audit is compulsory for companies above a prescribed size under Manufacturing and other Companies (Auditor's Report) Order, 1988 (MAOCARO) under the Companies Act, 1956 in India. Gradually, the scope of internal audit in Indian Companies has been enlarged from merely clerical activity to a management tool of great use. It is carried out by own employees at middle level in large and medium companies who cannot report fearlessly. It is mainly confined to verification or compliance of set procedures. It does not cover top management appraisal or responsibility accounting.
We carry out the internal audit of various companies to help the company management in identifying areas where operational efficiency can be improved. We can design MIS (Management Information System) for exercising better control in organizations.

OUR SERVICES

We provide our services as follows:
  1. Maintaining of Cost Records as per Cost Record Rules notified by Ministry of Corporate Affairs (MCA).
  2. Cost Audit (CA) under Section 233B of the Companies Act, 1956.
  3. Cost Compliance Report (CCR) under Section 209 (1) (d) of the Companies Act, 1956.
  4. XBRL Services for conversion of Cost Audit Report & Cost Compliance Report.
  5. MCA filing of documents.
Address : Contact Person : Phone No. :
170/11, Bhikam Colony, Tigaon Road, Ballabgarh, Faridabad-121004,
NCR NEW DELHI, INDIA
Ms. Shubhra Agrawal (Director) +91-129-2242098
+91-129-2242099
Mobile No.: Email Id :
+91-9899527348
+91-9811636067
chsindia@gmail.com, info@chsindia.com