Sir in CA Final RTP of Nov 2015 Q no 15 Pg no104 in the solution mentioned that cost records are to be included in books of accounts but for the applicability of cost records turnover of preceding year should exceed 35 crores whereas in question PY figures are not given .current year turnover figures are given but that does not exceed 35 crores then how can company include cost records in their books of account??

Questions › Category: CA-Final Cost Audit › Sir in CA Final RTP of Nov 2015 Q no 15 Pg no104 in the solution mentioned that cost records are to be included in books of accounts but for the applicability of cost records turnover of preceding year should exceed 35 crores whereas in question PY figures are not given .current year turnover figures are given but that does not exceed 35 crores then how can company include cost records in their books of account??

0 Vote Up Vote Down

ashmi shetty asked 7 years ago

1 Answers

0 Vote Up Vote Down

audit Staff answered 6 years ago

First of all one zero is missing all the turnover amounts. so it should be 1530 / 3570 / 5100 lakhs
Secondly for cost records and cost audit both previous turnover are relevant here also there is one more printing mistake it should have been previous year turnover
so take into consideration above mistakes, which will be rectified in exam question
if not assume them.