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of <h1>CAS-6 Sets Guidelines for Material Cost Determination Excluding Packing; Details Valuation, Assignment, and Disclosure Requirements</h1> The Cost Accounting Standard 6 (CAS-6) issued by the Institute of Cost and Works Accountants of India outlines principles for determining material cost, excluding packing materials. It covers classification, measurement, and assignment of material costs for product or service cost determination, and presentation in cost statements. Key aspects include valuation principles for material receipt and issue, assignment of costs, and presentation requirements. It mandates disclosures on material costs, including quantity, rates, valuation basis, and any significant changes or exclusions. The standard applies to cost statements prepared from April 1, 2010, onwards.
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