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:

• 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

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.