Cost-Accounting


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Cost Accounting Services

Statutory Services

Conducting Cost Audit

Companies Act, 2013, Section 148(2) provides for mandatory Cost Audit. Government of India, Ministry of Corporate Affairs has notified the Companies (Cost Records and Audit) Rules 2014. We conduct Cost Audit and have experience and expertise in Cost Audit.

Cost Records Maintenance & Compliances

Companies Act, 2013, Section 148(1) provides for mandatory maintenance of cost records in case of certain companies both in production and service sectors. We provide the Guidance for Maintenance of Cost Accounting Records prescribed under the Companies (Cost Records and Audit) Rules 2014 and certification as regards maintenance of Cost Records by the company.

XBRL filing of Cost Audit Report
Valuation of products as per CAS-4 for Captive Consumption
Various Certification under Transfer Pricing

Value Added Services

Implementation of cost accounting system

Cost accounting systems can help companies accurately calculate the cost of products, provide valuable operational and financial information, and even measure performance.

A business process owner’s goal is to make the most of their cost accounting data, using it to effectively manage business operations and measure the performance of each department involved in the manufacturing process.

The reason why cost accounting systems often fall short on this objective is typically inadequate due diligence. This lack of preparation results in the following:

Incomplete data around the functionality and capabilities of an existing system
Unreasonable expectations
Incomplete preparation for a new system

It is essential to consider how a new system will capture purchasing or production data to provide meaningful, actionable information.

It is critical to evaluate the capabilities of a company’s existing cost accounting system to handle the accounting requirements of the organization’s current needs, near-term anticipated changes, and long-term objectives.

It is important to revisit the supporting business processes as well, to make sure the activities needed to support the effective operation of the new cost accounting system have been considered in the design.

Following questions needs to be asked at the time of implementing the Costing System:

Does the current system provide the operational and financial data reporting you need and want?
Will a new system be capable of implementing the proposed cost accounting process?
Did you consider the changes in the supporting operational and financial reporting processes as a result of implementing a new cost accounting system?
Can you or will you allocate enough time to know the capabilities of the new system?

Budgeting & MIS

A management information system (MIS) is a computerized database of financial information organized and programmed in such a way that it produces regular reports on operations for every level of management in a company. It is usually also possible to obtain special reports from the system easily. The main purpose of the MIS is to give managers feedback about their own performance; top management can monitor the company as a whole. Information displayed by the MIS typically shows "actual" data over against "planned" results and results from a year before; thus it measures progress against goals.

Management of various organizations uses these procedures for solving various business problems, such as costing a product, service or a business-wide strategy.

We offer our clients with highly professional Management Information System (MIS) related services. These services are rendered by our team of experts, which ensures that the provided information is useful to manage the organization.

Profitability Improvement
Cost Consultancy
Cost Control and cost reduction
Cost Modeling and Cost Planning
Benchmarking
Value and Risk Analysis

Cost Accounting Services

Statutory Services

Value Added Services

Our Services