Financial Daily from THE HINDU group of publications
Tuesday, Oct 05, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 05, 2004 |
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Corporate
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Accounting Standards Cost Accounting Records Rules for 3 industries notified Our Bureau
New Delhi , Oct. 4 THE Centre has notified the Cost Accounting Records Rules with reference to plantation products, telecommunications and petroleum industry. Every company covered under these Rules is obliged to maintain cost accounting records for each financial year. The Cost Accounting Records Rules prescribe the manner in which cost records are to be maintained. The Rules aim at creating a cost database to be utilised by the industries to improve upon their performance in a competitive environment, an official release said. Cost Accounting Records Rules have been notified in respect of 47 industries so far, including aluminium, batteries, bearings, bulk drugs, caustic soda, cement, chemicals, cosmetic and toiletries, insecticides, jute goods, milk food, mining and metallurgy, motor vehicles, nylon, paper, refrigerators, room air-conditioners, shaving systems, steel tubes and pipes, sugar, sulphuric acid, telecommunications, textiles, and tyres and tubes.
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