Cost Governance - Role and Importance of Costing Standards and Principles

Authors

  • H. Yuvaraj Sr. DGM, TAFE, Chennai

DOI:

https://doi.org/10.33516/maj.v54i9.22-25p

Keywords:

No Keywords.

Abstract

Cost Governance is very critical to achieve Corporate Governance. Governance Mechanism has come a long way from Companies Act 1956 to Companies Act 2013. Cost Accounting Standards, Cost Auditing Standards, Generally Accepted Cost Accounting Principles plays a key role in Cost Governance. Cost Conscious Indian Customers are forcing Market leaders to change their business models. With Continuous professional updates, CMA’s can play a major lead role to achieve Cost Governance in their respective Organisations.

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Published

2019-09-30

How to Cite

Yuvaraj, H. (2019). Cost Governance - Role and Importance of Costing Standards and Principles. The Management Accountant Journal, 54(9), 22–25. https://doi.org/10.33516/maj.v54i9.22-25p

Issue

Section

Cover Story

References

All you wanted to know about Corporate Governance - The Hindu Business line, August 21, 2017.

Cost Governance - the Key success factor - Jan 2017.

Maruti sets stage to switch off diesel engines from April 2020, The Economic Times, April 26, 2019.

Martuti's RC Bhargava against auto companies demand for tax cut, The Economic Times, June 20, 2019

SBI to link home loans to repo rate from July, The Economic Times, June 8, 2019.

TVS Motor Co. initiates major cost reduction plan, The Hindu, July 23, 2019.

Hyundai to invest Rs.2,000 crore for Rs.10 lakh e-car, Times of India, July 16, 2019.

TCS digitises training to induct more recruits faster into the job, The Hindu Business line, July 15, 2019.

Company directors will have to sit for exams in India after scandals, The Economic Times, June 12, 2019.

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