Section 22: Adjustrnent of Gost Variances

Companies (cost records and audit) Amendment Rules, 2017.Central Rules · 2013

where the company maintains cost records on any basis otherthan actual such as standard costing, the records shall indicate the procedure followed by the company in working out the cost of the goods or services under such system The cost varianceJ shall be shown against separate heads and analysed into material, labour, overheads and further segregated into quantity, price and efficiency o variances. The method followed for adjusting the cost variances in determining the actual cost of the goods or services shall be indicated clearly in the cost records.

The reasons for the variances shall be duly explained in the cost records and statements.

Where this provision sits

Act	Companies (cost records and audit) Amendment Rules, 2017.
Section	22
Marginal note	Adjustrnent of Gost Variances
Jurisdiction	Central
Status	In force as published by the source

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