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of <h1>New Cost Accounting Standard (CAS-11) Ensures Uniformity in Administrative Overheads Reporting and Disclosure Practices.</h1> The Cost Accounting Standard (CAS-11) on Administrative Overheads issued by the Institute of Cost and Works Accountants of India outlines principles for determining, measuring, assigning, presenting, and disclosing administrative overheads in cost statements. It aims to ensure uniformity and accuracy in accounting for costs related to general management and administration, excluding production, marketing, and finance costs. The standard specifies methods for overhead absorption, cost assignment based on cause-effect and benefits received, and requires detailed disclosures of administrative overheads, including any grants or abnormal costs. Changes in accounting methods must be disclosed if they materially affect the overheads.
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