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of <h1>Cost Accounting Standard CAS-9 Defines Packing Material Costs, Ensures Uniformity in Cost Measurement and Disclosure Practices</h1> The Cost Accounting Standard (CAS-9) on Packing Material Cost, issued by the Institute of Cost and Works Accountants of India, outlines principles for determining packing material costs. It classifies packing materials into primary and secondary categories and aims to ensure uniformity in cost measurement, classification, assignment, presentation, and disclosure. The standard defines key terms such as abnormal cost, direct expenses, and distribution overheads. It provides guidelines for valuing packing materials, including deductions for recoverable taxes and subsidies, and excludes abnormal costs and penalties. The standard mandates disclosure of valuation bases, variances, and any material changes in cost accounting methods.
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