Cost Audit Practice Manual is an invaluable guide to practicing Cost Accountants, companies and to other professionals such as CAs and Company Secretaries .The Book contains guidance on how cost records should be maintained by companies in compliance with the Companies(Cost Accounting Records)Rules,2011, the new industry specific Cost Accounting Records Rules for 6 regulated industries notified in December 2011, the Cost Accounting Standards and the Generally Accepted Cost Accounting Principles(GACAP) issued by ICWAI. The book also provides invaluable guidance to practicing Cost Accountants on issuing cost audit report in the new form introduced by Companies(Cost Audit Report) Rules and on issuing compliance certificate under the Companies(Cost Accounting Records) Rules, 2011 and the new industry specific Cost Accounting Records Rules. Clarifications issued by ICWAI and the MCA have also been incorporated. Incorporates : Which Companies are required to maintain cost records Exemption to SMEs from obligations to maintain cost records How to maintain cost records in accordance with Cost Accounting Standards and GACAP issued by ICAI How to issue Compliance Report by Cost Accountant How to issue Cost Audit Report How to issue Performance Appraisal Report by Cost Auditor as required by Companies (Cost Audit Report) Rules, 2011 Glossary of cost accounting terms Cost Accounting Standards Guidance Note on CAS-6 Generally Accepted Cost Accounting Principles (GACAP) ICWAI’s clarifications on appointment of Cost Auditor/Cost Accounting Records Rules, 2011/Cost Audit Report Rules, 2011 MCA’s Master Circular No. 2/2011 dated 11-11-2011 MCA’s clarifications issued on 30-11-2011 FAQs on Cost Audit New Activity/Industry specific Cost Accounting Records Rules for different industries Cost Accounting Records (Petroleum Industry) Rules, 2011 Cost Accounting Records (Fertilizer Industry) Rules, 2011 Cost Accounting Records (Pharmaceutical Industry) Rules, 2011 Cost Accounting Records (Sugar Industry) Rules, 2011 Cost Accounting Records (Telecommunication Industry) Rules, 2011 Cost Accounting Records (Electricity Industry) Rules, 2011.