Six Cost Accounting standards Mandatory from 1st April 2010
Mar 14, 2010 ICWAI
Ten cost accounting standards have been formulated, six of them are mandatory, which will come into effect from April 1 and three more are likely to be added, according to Mr K. Narasimha Murthy, Director of IDBI and LIC Housing Finance.
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For ICWAI students June 2010 will be Last attempt under old Syllabus
Mar 11, 2010 ICWAI
From Examination Directorate
The last examinations under SYLLABUS 2002 would be held in June 2010
From December 2010 term onwards, examinations shall be held only under the REVISED SYLLABUS, 2008
Tags: Examination Directorate, revised syllabus 2008, syllabus 2002
“India redefined…. CMAs with the difference”
Feb 6, 2010 ICWAI
Eastern India Regional Council of the Institute of Cost & Works Accountants of India is organizing the “Regional Students Conference” at ITC Fortune, Kolkata on 14th February, 2010. The theme of the Conference is “India redefined…. CMAs with the difference”.
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Mandatory application of Cost Accounting Standards, w.e.f. 1st April 2010
The Council of the ICWAI at its 251st Meeting held on 12-13 February 2009 and 258th Meeting held on 14th December 2009 decided as below:
Mandatory application of Cost Accounting Standards
“RESOLVED THAT the following Cost Accounting Standards
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Tags: accounting statements, audit report, COST ACCOUNTANT, cost accounting standards, disclosure, general purpose, ICWAI, mandatory application, overheads, packing material
ICWAI decided to increase cost accounting standards significantly within the next one year
Dec 15, 2009 ICWAI
Issue of Cost Accounting Standards (CAS) is a pioneering initiative by the Institute of Cost and Works Accountants of India. The first CAS (CAS-1) was issued by the institute in the year 2002. The Preface to CostAccounting Standards issued by the institute has set out the following objectives to be achieved through CAS: to provide better guidelines on standard cost accounting practices; to assist cost accountants in preparation of uniform cost statements;
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Tags: accounting practices, accounting principles, accounting records, capital market efficiency, cost accountants, cost accounting standards, cost accounting system, cost management, financial accounting standards, financial reporting, ICWAI, institute of cost and works accountants of india, planning and control, slow progress, statutory obligations
ICWAI to drive adoption of cost accounting standards in SAARC region
Nov 28, 2009 ICWAI
Institute of Cost and Works Accounts of India (ICWAI), an apex body to regulate the profession of cost and management accountancy in India, Read the rest of this entry »
in association with the other Cost and Management Accounting (CMA) bodies of the SAARC region, organized an international seminar on Role of Cost and Management Accountants in Regional Economic Development here. Mr. Salman Khurshid, Union Minister for Corporate Affairs (MCA), inaugurated the seminar.
Tags: act of parliament, administrative control, apex body, cost and management accounting, cultural environment, ICWAI, india pakistan, international seminar, khurshid, management accountancy, management accountants, mr gn, professional institutes, regional economic development, relevant ministries, saarc region, union minister, venkataraman
Government allowed ICWAI to change its name to ICMAI
Nov 28, 2009 ICWAI
The government on Thursday said cost accounting body ICWAI can change its name to Institute of Cost and Management Accountants of India . “We have in-principle allowed ICWAI to change its name to Institute of Cost and Management Accountants of India (ICMAI). Some statutory changes will be required. We are working on it. Hopefully in the near future it will be done,” Corporate Affairs Minister Salman Khurshid said.
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Tags: act of parliament, affairs minister, chartered accountants, corporate affairs, cost accountants, cost accounting, cost management, ICWAI, khurshid, management accountants, salman, statutory changes
CEO of ICWAI been fined for failure to give timely information under RTI
Oct 2, 2009 ICWAI
The Central Information Commission has slapped the maximum fine of Rs 25,000 provided under the RTI Act on the CEO of a cost accounting body for failure to give timely information in a case. The CIC slapped the fine on the Institute of Cost and Works Accountants of India’s (ICWAI) CEO, Sudhir Mukund Galande, while dismissing his argument that he was acting as a “facilitator” to the RTI applicant and that he was “not having direct access or control” over the information.
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Tags: ceo, cic, cost accounting, direct access, facilitator, harassment, ICWAI, information commission, information commissioner, installments, institute of cost and works accountants of india, rti act
Government proposal to constitute a supervisory mechanism opposed by ICAI, ICSI and ICWAI
Sep 24, 2009 ICAI, ICSI, ICWAI
A GOVERNMENT proposal to constitute a supervisory mechanism above the country’s three statutory institutes for accounting, company secretaryship and cost accounting and allowing their members to provide services in each other’s fields has been opposed by these regulators. Floated by the corporate affairs ministry, the proposal seeks to create an oversight mechanism that will oversee the functioning of the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and Institute of Cost and Works Accountants of India (ICWAI).. The new regulatory check aims to review the handling of regulatory affairs by professional bodies under their functional domains.
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Tags: accounting company, affairs ministry, chartered accountants of india, company secretaries of india, cost accounting, government proposal, ICAI, ICWAI, institute of chartered accountants, institute of chartered accountants of india, institute of company secretaries, institute of company secretaries of india, institute of cost and works accountants of india, professional domains, regulatory functions
Listed companies may soon have to get done Quarterly cost audit
Sep 23, 2009 Company Law, ICAI, ICWAI, SEBI
Quarterly cost audit by internal auditors in the listed companies should be explored in consultation with the market regulator SEBI to improve corporate governance, an expert group appointed by Corporate Affairs Ministry has suggested. ”The possibility of introducing quarterly limited review of cost details, in case of listed companies, may be examined in consultation with SEBI,” the 13-member group set up to review the cost accounting rules and standards has said.
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Tags: affairs ministry, assocham, audit committee, audit report, corporate affairs, corporate governance, cost accounting, Internal Audit, internal auditors, management consultants, market regulator