TMI BlogCOST AUDIT REPORTX X X X Extracts X X X X X X X X Extracts X X X X ..... correctly the cost of production/operation , cost of sales, sales realization and margin of the product/activity groups under reference separately for each product/activity group. The policy should cover, inter alia , the following areas: ( a ) Identification of cost centres/cost objects and cost drivers ( b ) Accounting for material cost including packing materials, stores and spares etc., employee cost, utilities and other relevant cost components ( c ) Accounting, allocation and absorption of overheads ( d ) Accounting for Depreciation/Amortization ( e ) Accounting for by-products/joint-products, scarps, wastage etc. ( f ) Basis for Inventory Valuation ( g ) Methodology for valuation of Inter-Unit/Inter-Company and Related Party transactions ( h ) Treatment of abnormal and non-recurring costs including classification of other non-cost items ( i ) In case the Company has adopted IFRS, variations (if any) in treatment of cost accounting arising out of adoption of IFRS in Financial Accounting ( j ) Other relevant cost accounting policy adopted by the Company (2) Briefly specify the changes, if any, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ( a ) Installed Capacity ( b ) Capacity enhanced during the year, if any ( c ) Capacity available through leasing arrangements, if ( d ) Capacity available through loan license/third parties ( e ) Total available Capacity 2. Actual Production ( a ) Self-manufactured ( b ) Produced under leasing arrangements ( c ) Produced on loan license/by third parties on job work ( d ) Total Production 3. Production as per Excise Records 4. Capacity Utilization (in-house) 5. Stock Purchased for Trading ( a ) Domestic Purchase ( b ) Imports ( c ) Total Purchases 6. Stock Other Adjustments ( a ) Change ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rheads 13 Total (1 to 12) 14 Add/Less: Work-in-Progress Adjustments 15 Less: Credits for Recoveries, if any 16 Primary Packing Cost 17 Cost of Production/Operations (12 + 13 to 17) 18 Increase/Decrease in Stock of Finished Goods 19 Less: Self/Captive Consumption (incl. Samples, etc.) 20 Other Adjustments (if any) 21 Cost of Production/Operation of Goods/Services Sold (17 + 18 to 20) 22 Administrative Overheads 23 Secondary Packing Cost 24 S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... harges % 15 Total % 7. PROFIT RECONCILIATION (for the company as a whole) Sl. No. Particulars Current Year 1st Previous Year 2nd Previous Year 1 Profit or Loss as per Cost Accounting Records ( a ) For the audited product groups ( b ) For the un-audited product groups 2 Add: Incomes not considered in cost accounts: ( a ) (specify) ( b ) ( c ) ( d ) ( e ) 3 Less : Expenses not considered in cost accounts: ( a ) (specify) ( b ) ( c ) ( d ) ( e ) 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. FINANCIAL POSITION AND RATIO ANALYSIS (for the company as a whole) Sl. No. Particulars Units Current Year Previous Year-1 Previous Year-2 A. Financial Position 1 Paid-up Capital Rs/Lakh 2 Reserves Surplus Rs/Lakh 3 Loans (secured unsecured) Rs/Lakh 4 ( a ) Gross Fixed Assets Rs/Lakh ( b ) Net Fixed Assets Rs/Lakh 5 ( a ) Total Current Assets Rs/Lakh ( b ) Less: Current Liabilities Provisions Rs/Lakh ( c ) Net Current Assets Rs/Lakh 6 Capital Employed Rs/Lakh 7 Net Worth Rs/Lakh B. Financial Performance 1 Cost of Production Rs/Lakh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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