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of <h1>Understanding CAS-4: Methodology for Calculating Production Costs for Captive Consumption in Compliance with Indian Accounting Standards.</h1> The Cost Accounting Standard 4 (CAS-4) outlines the methodology for determining the cost of production for goods used in captive consumption, as mandated by the Institute of Cost and Works Accountants of India. Captive consumption refers to the use of goods produced by one division of an organization by another division within the same entity. The standard ensures uniformity in calculating the assessable value for excise duty purposes, which is set at 115% of the production cost. It encompasses various cost components, such as materials, wages, overheads, and administrative expenses, and requires adjustments for stock, scrap, and by-products. The standard mandates disclosure of any changes in accounting practices that affect cost comparability.
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