Communique from Chairman (CASB) inviting comments on Exposure Draft, revised COST ACCOUNTING STANDARD ON “OVERHEADS”
From Cost Accounting Standards Board
REQUEST FOR COMMENTS
The Central Council of the Institute has approved the release of Exposure Draft of Revised Cost Accounting Standards - 3 on Overheads (Revised CAS - 3) as recommended by the Cost Accounting Standards Board (CASB), the standard-setting body of the Institute on July 21, 2010. The proposed revised standard may be modified in light of comments received before being issued as a standard in final form.
The members are requested to give their specific views on paragraph 4.12 of the ED CAS, particularly on the exclusion of following points from the definition of Overheads:
• Donation and gifts including political donations;
• Contribution for Corporate Social Responsibility (CSR) activities;
• Bad Debts;
Please submit your views / comments / suggestions on the proposed ED-CAS, preferably by email, latest by November 8, 2010.
Comments should be addressed to:
Cost Accounting Standards Board
The Institute of Cost and Works Accountants of India,
ICWAI Bhawan, 3rd Floor
3, Institutional Area, Lodi Road,
Email responses should be sent to: firstname.lastname@example.org