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of <h1>New Cost Accounting Rules 2011 Standardize Practices for Companies, Replacing Previous Regulations from 1967-2004 Under Companies Act 1956.</h1> The Companies (Cost Accounting Records) Rules, 2011, were established by the Central Government under the Companies Act, 1956, superseding previous cost accounting records rules from 1967 to 2004. These rules, effective from their publication date in the Official Gazette, outline the requirements for maintaining cost accounting records by companies. They aim to standardize cost accounting practices, ensuring compliance with statutory provisions. The rules replace earlier notifications and regulations, except for actions completed or omitted before their enforcement.
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