1. By CMA G Kiruthika M.Com., ACMA Practicing Cost Accountant
The Institute of Cost Accountants of India Erode Chapter -Cost Records And Audit Amendment Rules 8th September SATURDAY p.m to 9.00 p.m. By
CMA G Kiruthika M.Com., ACMA
Practicing Cost Accountant

2. Implementation date Date fo implementation december 7 of 2017
Applicable retrospectively from 1st april 2016
Principle of IndAS is observed by all companies

3. Material cost Rule (e) 2017 Spare parts –recognised – property
Rule (j) 2017
Subsidy grant ---- deducted
Rule (k) 2017
Issued shall be valued at appropriate method applicable in force

4. Employee Cost
Rule (b) 2017
Pay + allowances + perquisites + benefits + retirements benefits
Re-measurement of such cost
Additional cost will not forming part
Rule (i)
Any subsidy grant is deducted

5. Any subsidy, grant, incentive should be deducted
Utility cost
Rule (L)
Any subsidy, grant, incentive should be deducted

6. expenses Rule (h) direct expenses, overheads
Rule (n) Repair and maintenance cost
Rule (e) Administrative Overheads
Rule (d) Royalty and technical knowhow
Rule (b) Research & development
Rule (g) Quality control costs
GRANT, SUBSIDY OR INCENTIVE
SHOULD BE DEDUCTED

7. Other expenses Rule (p)-- Pollution control expenses
Rule (n) – Service department expenses
Rule (h) -- packing expenses
Rule (a) Rule (e) -- finance costs
GRANT, SUBSIDY OR INCENTIVE
SHOULD BE DEDUCTED

8. Part-- A of CRA-3
General Information
General Details of Cost Auditors
Cost accounting Policy
Product / service details– for the company as a whole
It is now necessary to mention whether IndAS applicable to the company

9. Part—B for the manufacturing sector
Quantitative Information
Production as per excise records / GST needs revision
Abridged cost statements
Details of Materials consumed
Details of Utility consumed
Details of industry specific expenses

10. Part C for service sector
Quantitative information
Anridged cost statement
Details of Materials Consumed
Details of Utilities consumed
Details of industry specific expenses

11. Part D Profit reconciliation ( for the company as a whole)
The profit or loss as per financial accounts is to be shown excluding other comprehensive income of companies following Ind AS
Financial position and ratio analysis
Share capital, Reserves and surplus
Long term borrowing NET Fixed assets

12. Indirect taxes reconciliation
.(for the company as a whole)
The prescribed format of reconciliation of indirect taxes needs to be revised in view of switch over to the GST regime
Service tax / GST records (needs revision)

13. Thanks
Query plz
?????