Joint costs accounting standard sets rules for measurement, allocation, by-product valuation, and cost statement disclosure. Sets out the cost accounting standard on joint costs for determining, assigning, presenting and disclosing joint costs in cost statements. The standard promotes uniformity and consistency in the measurement and allocation of joint costs and applies to cost statements requiring classification, measurement, assignment, presentation and disclosure. It defines joint costs, joint products, by-products, split-off point, scrap, waste and related terms, and prescribes methods for measurement, allocation, presentation and disclosure, including treatment of post split-off costs, scrap, waste, subsidies, incentives, penalties and by-product valuation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Joint costs accounting standard sets rules for measurement, allocation, by-product valuation, and cost statement disclosure.
Sets out the cost accounting standard on joint costs for determining, assigning, presenting and disclosing joint costs in cost statements. The standard promotes uniformity and consistency in the measurement and allocation of joint costs and applies to cost statements requiring classification, measurement, assignment, presentation and disclosure. It defines joint costs, joint products, by-products, split-off point, scrap, waste and related terms, and prescribes methods for measurement, allocation, presentation and disclosure, including treatment of post split-off costs, scrap, waste, subsidies, incentives, penalties and by-product valuation.
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