The following Cost Accounting Standards shall be mandatory with effect from period commencing on or after 1st April 2010, which shall be applied for the preparation and certification of General Purpose Cost Accounting Statements.
CAS 1: Classifications of Costs
CAS 2: Capacity Determination
CAS 3: Overheads
CAS 4: Cost of Production for Captive Consumption
CAS 5: Determination of Average (Equalized) Cost of Transportation
CAS 6: Material Cost
CAS 7: Employee Cost
CAS 8: Cost of Utilities
CAS 9: Packing Material Cost
CAS 10: Direct Expenses
In case the cost accountant is of the opinion that the aforesaid standards have not been complied with for the preparation of the Cost Statements, it shall be his duty to make a suitable disclosure/qualification in his audit report/ certificate”.
Source: icwai.org








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