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Direct Expenses

CAS - 10 - Rule - Companies Law - CAS - 10 - CAS - 10 The following is the COST ACCOUNTING STANDARD - 10 (CAS-10) issued by the Council of The Institute of Cost and Works Accountants of India on "". In this Standard, the standard portions have been set in bold italic type. This standard should be read in the context of the background material which has been set in normal type. 1. Introduction 1.1 This standard deals with the principles and methods of determining the . 1.2 This standard .....

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of including those requiring attestation. Definitions 4. The following terms are being used in this standard with the meaning specified. 1[4.1 Abnormal cost: An unusual or a typical cost whose occurrence is usually irregular and unexpected and/ or due to some abnormal situation of the production or operation.] 2[4.2 Cost Object: This includes a product, service, cost centre, activity, sub-activity, project, contract, customer or distribution channel or any other unit in relation to which costs .....

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job, software services specifically required for a job, travelling Expenses for a specific job. 5[4.5 Direct Material Cost: The cost of material which can be attributed to a cost object in an economically feasible way.] 4.6 Finance Costs: Costs incurred by an enterprise in connection with the borrowing of funds. This will include interest and commitment charges on bank borrowings, other short term and long term borrowings, amortisation of discounts or premium related to borrowings, amortisation .....

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se of indirect materials, indirect employee costs and in which are not directly identifiable or allocable to a cost object.] 4.9 Standard Cost: A predetermined cost of resource inputs for the cost object computed with reference to set of technical specifications and efficient operating conditions. Standard costs are used as scale of reference to compare the actual costs with the standard cost with a view to determine the variances, if any, and analyse the causes of variances and take proper meas .....

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ll be determined on the basis of amount incurred in connection therewith. Examples: in case of dies and tools produced internally, the cost of such dies and tools will include direct material cost, direct employee cost, , factory overheads including share of administrative overheads relating to production comprising factory management and administration. In the case of research and development cost, the amount traceable to the cost object for development and improvement of the process for the ex .....

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ounting period, the charge for amortisation be determined. 5.3 If an item of does not meet the test of materiality, it can be treated as part of overheads. 5.4 Finance costs incurred in connection with the self generated or procured resources shall not form part of . 5.5 shall not include imputed costs. In case of goods produced for captive consumption, treatment of imputed cost shall be in accordance with Cost Accounting Standard - 4 (CAS-4). 5.6 Where are accounted at standard cost, variances .....

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m part of the . 5.10 Credits/ recoveries relating to the , material and quantifiable, shall be deducted to arrive at the net . 5.11 Any change in the cost accounting principles applied for the measurement of the should be made only if, it is required by law or for compliance with the requirements of a cost accounting standard, or a change would result in a more appropriate preparation or presentation of cost statements of an organisation. 6. Assignment of costs 6.1 that are directly traceable to .....

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