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Joint costs

CAS - 19 - Rules - Cost Accounting Standards - CAS - 19 - CAS - 19 Cost Accounting Standard on The following is the Cost Accounting Standard - 19 (CAS - 19) on "". In this standard, the standard portions have been set in bold Italic type. These are to be read in context of the background material which has been set in normal type. 1. Introduction The standard deals with the principles and methods of measurement and assignment of and the presentation and disclosure in cost statement. 2. .....

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hile manufacturing the main product. 4.2 Cost Object: This includes a product, service, cost centre, activity, sub activity, project, customer or distribution channel or any other units in relation to which costs are ascertained2. 4.3 Imputed Cost: Hypothetical or notional costs, not involving any cash outlay computed for any purpose. 4.4 : are the cost of common resources used to produce two or more products or services simultaneously. 4.5 Joint product : two or more products produced by the sa .....

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and separation point are used interchangeably. 4.8 Waste: Material loss during production or storage due to various factors such as evaporation, chemical reaction, contamination, unrecoverable residue, shrinkage, etc. and discarded material which may or may not have a value. 5. Principles of Measurement 5.1 The principles and methods for measuring upto the split off point will be the same as stipulated in other cost accounting standards. 5.2 Cost incurred after split-off point on product separa .....

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expenditure directly attributable to such processing . This cost shall also include the cost of resources provided to outside parties. 5.5 In case the production process generates scrap or waste, realized or realizable value, net of disposal cost, of scrap and waste shall be deducted from the cost of Joint Product. 5.6 Any Subsidy / Grant / Incentive or any such payment received / receivable with respect to any joint product /By-Product shall be reduced for ascertainment of the cost to which suc .....

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