Repairs and maintenance cost standard sets uniform rules for measurement, assignment, presentation, and disclosure in cost statements. Repairs and maintenance cost is to be determined on a uniform and consistent basis for cost statements through classification, measurement, assignment, presentation and disclosure. The cost comprises direct and indirect costs of maintaining or restoring an asset, including routine, preventive, planned and breakdown maintenance, with separate identification of distinct activities and major asset categories where material. Finance costs and imputed costs are excluded, while subsidies, grants, credits, recoveries, abnormal costs, fines and penalties are not to form part of the cost.