Cost Audit | Advanced Auditing Assignment Help
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Persons of varied interests may require cost audit reports of a company. A cost auditor checks the cost accounting records to verify that the cost statements are properly drawn up as per records and they present a true and fair view of the cost of production and marketing of various dealt with by the undertaking. The Cost Audit (report)
Rules, 1996, prescribe the rules regarding the cost audit report. The prescribed format of the report contains assertions whether cost accounting records have been properly kept so as to give a true and fair view of the cost of production/ processing/ manufacturing/ mining activities and marketing of the product under reference. The main objective of cost audit is to verify the cost statements and ascertain that the cost of production is true and fair. Generally speaking, cost audit can be considered as a tool of internal management by a company to operate effectively by disclosing weakness in cost accounting systems disclosing inefficiencies at all levels of organization.
We cover following topics about cost audit assignment help:
1. TYPES OF COST AUDIT
2. FUCTIONS OF COST AUDITORS
3. GENERAL FEATURES OF COST RECORDS
4. COST AUDIT UNDER THE COMPANIES ACT
5. STEPS IN COST AUDIT
6. TRUE AND FAIR COST IF PRODUCTION
7. AUDITORS REPORT UNDER COST AUDIT (REPORT) RULES, 1968
8. COST AUDITOR’S DUTY REGARDING BRANCHES
9. REFERENCE TO FINANCIAL RECORDS BY COST AUDITOR
10. ADVISABILITY OF COMBINING COST AUDIT AND FINANCIAL AUDIT TO PRODUCE COMPOSITE AUDIT REQUIREMENTS
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