cost accounting formula


Accounting code for payment of Krishi Kalyan Cess

Circular No 194 04 2016 ST F No 354 31 2016 TRU Government of India Ministry of Finance Department of Revenue Tax Research Unit To Principal Chief Commissioners of Customs and Central Excise All Princ

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Road Map for implementation of Indian Accounting Standards

The Road Map for implementation of Indian Accounting Standards Ind AS for commercial Banks Banks Insurance Companies Insurers and Non Banking Financial Companies NBFCs was announced on 18 01 2016 and

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Applicability of Accounting Standards amended by MCA

Applicability of Accounting Standards amended by MCA vide Notification dated March 30 2016 1 The Ministry of Corporate Affairs Government of India vide Notification No G S R 739 E dated 7th December 2

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Mrs Aruna Sethi appointed as head of Indian cost accounting service

Mrs Aruna Sethi ICoAS 1985 Principal Adviser Cost took over the charge of Indian Cost Accounts Service ICoAS as head on 1st February 2016 She is the first lady ICoAS officer who has achieved this laur

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Draft Guiding Principles for Determination of Place of Effective Management (Poem) of a Company Formulated

The Finance Act 2015 has amended with effect from 01 04 2016 the provisions of Income tax Act relating to determination of residence of a company In accordance with the amended provisions a company wo

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Cost accountant


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Fd interest calculation & accounting entry in tally

Dear Sir Madam how to calculate FD bank interest accounting treatment in balance sheet P L what is bank interest entry Bank interest certificate needed for accounting

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Accounting and audit of telecom distributors.

Dear sir madam My client is a telecom distributor who has many sources of income like 1 Sale of e recharge flexi or talk time Under this he does a neft or rtgs of rs 100000 to the co The co Transfers

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Accounting treatment for eefc a/c transactions - as 11

Here is an Example Professional Fees earned by my client in currency other than reporting currency Invoice dated 27 08 2016 amounting 9000 Exchange currency rate 65 same amount is deposited in my clie

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Tcs accounting

How to account TCScollected from the buyer as per the new rule w e f 01 06 2016

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Cost inflation index for f. y. 2016-17 cii 1125

News Updates CBDT vide its notication dated 02 06 2016 has notified cost inflation index for FY 2016 17 as under Financial Year Cost Inflation Index 2016 17 1125 Notification No 42 2016 F No 142 5 201

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Chit fund accounting & auditing

I am accounting for a chit fund company Whether discounting done at auction will be treated as income of the company If yes will dividend distribution out of such discounting be treated as expense or

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Cost accounting of granite

Hi We are facing a problem with accounting of Granite Blocks quantity The problem is that how to account the excess quantity of material received free of cost which is some times usable or a waste We

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Accounting treatment of nbfc for assets and provision


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Accounting treatment of foc voucher

My company purchases Fixed asset Heavy Vehicles from X Ltd against which we recieve FOC vouched worth Rs 5 lacs which can be redeemed against spare parts purchase from its agent Y Ltd We have been pur

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  • Circular on Section 14A

    CBDT notifies amended Rule 8D for computation of disallowance u s 14A clarifies that amount of disallowance as computed under Rule 8D shall not exceed total expenditure claimed by the assessee Deletes sub clause ii in Rule 8D 2 which dealt with computation of expenditure towards interest not directly attributable to any particular income receipt as per the prescribed formula Increases the rate to be applied on annual average value of investments from 0 5 to 1 Amended Rule shall come into force on the date of its publication in the Official Gazette CBDT


  • IND AS 23-Borrowing Costs

    Borrowing costs that are directly attributable to the acquisition construction or production of a qualifying asset form part of the cost of that asset Other borrowing costs are recognised as an expense An entity shall apply this Standard in accounting for borrowing costs The Standard does not deal with the actual or imputed cost of equity including preferred capital not classified as a liability


  • IND AS 20-Accounting for Government Grants and Disclosure of Government Assistance

    This Standard shall be applied in accounting for and in the disclosure of government grants and in the disclosure of other forms of government assistance


  • IND AS12-Income Taxes

    The objective of this Standard is to prescribe the accounting treatment for income taxes The principal issue in accounting for income taxes is how to account for the current and future tax consequences of a the future recovery settlement of the carrying amount of assets liabilities that are recognised in an entity s balance sheet and b transactions and other events of the current period that are recognised in an entity s financial statements


  • IND AS16-Property, Plant and Equipment

    The objective of this Standard is to prescribe the accounting treatment for property plant and equipment so that users of the financial statements can discern information about an entity s investment in its property plant and equipment and the changes in such investment The principal issues in accounting for property plant and equipment are the recognition of the assets the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in relation to them


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Cost sharing by companies and service tax

Background A group company could procure resources such as server space software licenses office space and various other facilities from vendors When a company say Co Aof Karnataka procures such resou

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Ind AS - IFRS Converged Accounting Standards applicable to India

On 16th February 2015 the Ministry of Corporate Affairs MCA has notified Companies Indian Accounting Standard Rules 2015 for applicability of Indian Accounting Standards Ind AS which shall come into f

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Hedge Accounting as per IND-AS

Purpose of the Article Hedge accounting is a method of accounting where entries for the ownership of a security and the opposing hedge are treated as one Hedge accounting attempts to reduce the volati

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Computation of Base Rate based on Marginal Cost of Funds

The Reserve Bank vide its circular DBOD No Dir BC88 13 03 0 2009 10 dated April 9 2010 introduced the Base Rate system with effect from July 1 2010 which replaced the Benchmark Prime Lending Rate BPLR

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Target Costing

A target cost is the allowable amount of cost that can be incurred on a product and still earn the required profit from that product It is a market driven cost that is computed before a product is pro

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Updated on : 6/8/2016 10:58:17 AM

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