After reading this article you will learn about the Cost Audit Report:- 1. Subject-Matter of the Cost Audit Report 2. Cost Audit (Report) Rules, 2001 3. Form and Contents of the Cost Audit Report. Subject-Matter of the Cost Audit Report: The statutory cost audit report is the end result of an audit of the cost accounting records of a company. [...]
This article throws light upon the five paragraphs relating to the forms of cost audit report. Cost Audit Report: Form # 1. Paragraph 1: The cost auditor is asked to state specifically (positively or negatively): (i) Whether all information and explanations necessary for the purposes of Cost Audit were obtained or not; (ii) Whether proper cost accounting records as required [...]
This article throws light upon the eight main annexures to cost audit report with their respective explanations. The annexures are: 1. General 2. Cost Accounting System 3. Process of Manufacture 4. Quantitative Details 5. Break-Up of Cost of Input Materials Imported during the Year 6. Power, Fuel and Utilities 7. Salaries and Wages 8. Repairs and Maintenance. Cost Audit Report: [...]