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What constitutes Cost Accounting Records? The Records contemplated under Section 2.

09(1 ^(d) of the Companies AgM956, would include all the accounting records maintained by the company and made available foe audit to the Financial Auditors. In addition, the following records are also part of the Cost Accounting Records: i) Production
Raw material consumption record. Production report.

Rejection/wastage/scarp repor . t
Repor on stoppage of machines with reasons. t

Idle time of labour repor with reasons. t Machine utilisation repor . t

Details such as production hours, labour hours and machine Jiours.

ii) Work - in - progress and finished goods

In Process stock record, cost centre- wise & product- wise Finished goods stock record , product - wise, pack-wise, type-wise etc.

iii) Repairs & maintenance

Works order record/card showing material and spares consumed and labour

utilised for repair jobs. In case of workshop, additional records as described under (i) above. iv) Utilities (Steam, power, water, air conditioning, humidification, Effluent Treatment Plant (ETP)etc.)
Records ofinputs and outputs. Records of cost centre-wise allocation of outputs. Separate records and cost for own generation of power and- bought - out power.


v) Raw materials and stores

Goods received record. Bin cards. ,

Materials/stores ledgers in quantity and value.

Material consumption reports in quantity and value.

Physical stock check and difference statement.

vi) Wages & Salaries

Attendance record and leave records. Wages/salary sheets. Leave wages, bonus gratuity payments and other fringe benefits. Overtime, idle time etc. records.

Details of VRS. vii) Overheads

Overheads analysis record, cost centre-wise.


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Sales analysis by products. (Quality, size, variety -wise). Expor Sales, product - wise. t Product - wise analysis of export incentives and benefits.

viii) Sales
Sales analysis by products. (Quality, size, variety -wise). Export Sales, product - wise. Product - wise analysis of export incentives and benef ts. i Analysis of sales to related parties.

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ix) Records of inter-company transactions.

x) Cost accounts/records/statements. Cost center - wise assets record. Finished Product record. Product - wise Cost Statements. Annexures and proformae as per Records Rules and Report Rules. Reconciliation of profit/loss as per cost records and financial accounts.


Maintenance of records:


The cost records can be in the form of analysis record. It is not necessary to have a cost ledger.

The cost records shall be written up in ink. typewritten or computerized and not in pencil.


The Cost Accounting Records Rules issued vide G.S.R/No.562 dated on 2.9.2004 for "Chemical
Industry" contain some general matters, which would be useful in other cases too, for example, -

"Rule 3 (2) the books ofaccounts referred to in sub-rule (1) shall be kept on a regular basis in such
a manner as to make it possible to calculate per unit cost of production and cost of sales of each product referred to in rule 2 for every financial year from the par iculars entered therein.". t


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