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IMPORTANT ANNOUNCEMENT

The Institute is pleased to release the “Limited Revision” of the following Cost Accounting Standards. The limited revision of the Cost Accounting Standards (CAS-6, CAS-7, CAS-12, CAS -16 and CAS 17) and consequential changes in other Cost Accounting Standards (CAS-8, CAS-9, CAS-10, CAS-11, CAS-12, CAS-13, CAS-14, CAS-20, CAS-21, CAS-23 and CAS-24) shall be effective for the cost statements prepared on or after 1st April 2017.

The Revised Cost Accounting Standards (CAS-6, CAS-7, CAS-12, CAS -16 and CAS 17) and the Paragraph wise summary of changes in CASs can be downloaded from the link below:

  1. CAS-6 (Revised 2017)

  2. CAS-7 (Revised 2017)

  3. CAS-12 (Revised 2017)

  4. CAS -16 (Revised 2017)

  5. CAS -17 (Revised 2017)

  6. Paragraph wise summary of changes in CASs

The Consequential Changes in Cost Accounting Standards are provided below:
  1. Substitution of “Profit on sale of fixed assets and investments” with “Profit on sale of property, plant and equipment and investments” in CAS 24.

  2. Substitution of Definition of “Interest and Finance charges” in the Cost Accounting Standards CAS-8, CAS-9, CAS-10, CAS-11, CAS-12, CAS-13, CAS-14, CAS-20, CAS-21 and CAS-23.
 
CMA Balwinder Singh
Chairman, CASB
CMA J.K. Budhiraja
Secretary, CASB