Employee cost measurement under cost accounting standards defines inclusion, exclusion, assignment, and disclosure rules for cost statements. Employee cost under Cost Accounting Standard 7 is measured with gross pay, allowances and employer-funded benefits, while excluding imputed costs, ... Summary
Employee cost measurement under cost accounting standards defines inclusion, exclusion, assignment, and disclosure rules for cost statements.
Employee cost under Cost Accounting Standard 7 is measured with gross pay, allowances and employer-funded benefits, while excluding imputed costs, material abnormal costs, penalties, and specified prior-period items. Bonus, ex gratia, managerial remuneration, separation costs, idle time, subsidies and recoveries are treated according to defined measurement rules. Employee costs are assigned directly where traceable to a cost object, otherwise by suitable allocation methods, and are presented separately as direct costs or within overheads with prescribed disclosures.
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