Cost Accounting Records Rules 2011 Notified
THE Ministry of Corporate Affairs has notified the Cost Accounting Records (Telecommunication Industry) Rules, 2011 and the following rules:
++ The Cost Accounting Records (Sugar Industry) Rules, 2011
++ The Cost Accounting Records (Pharmaceutical Industry) Rules, 2011
++ The Cost Accounting Records (Petroleum Industry) Rules, 2011
++ The Cost Accounting Records (Fertilizer Industry) Rules, 2011
++ The Cost Accounting Records (Electricity Industry) Rules, 2011
These Rules basically prescribe that cost records shall be maintained in accordance with the generally accepted cost accounting principles and cost accounting standards issued by the Institute and that cost records shall be kept on regular basis in such manner so as to make it possible to calculate per unit cost of production or cost of operations, cost of sales and margin for each of its products and activities for every financial year on monthly or quarterly or half - yearly or annual basis.