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IMPORTANT ANNOUNCEMENT
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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.
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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:
- CAS-6 (Revised 2017)
- CAS-7 (Revised 2017)
- CAS-12 (Revised 2017)
- CAS -16 (Revised 2017)
- CAS -17 (Revised 2017)
- Paragraph wise summary of changes in CASs
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The Consequential Changes in Cost Accounting Standards are provided below:
- Substitution of “Profit on sale of fixed assets and investments” with “Profit on sale of property, plant and equipment and investments” in CAS 24.
- 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.
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CMA Balwinder Singh
Chairman, CASB |
CMA J.K. Budhiraja
Secretary, CASB |
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