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of <h1>New Cost Accounting Standard (CAS-20) Ensures Accurate Allocation of Royalty and Know-how Fees from April 2014</h1> The Cost Accounting Standard (CAS-20) on Royalty and Technical Know-how Fee establishes principles for determining, classifying, measuring, and assigning these fees in cost statements. It aims to ensure uniformity and accuracy in cost accounting. The standard specifies that royalty and technical know-how fees, paid in lump sums or periodically, should be amortized based on expected benefits. Finance and imputed costs are excluded, and any subsidies or credits should reduce the fee amount. The fees should be assigned to cost objects based on production, sales, or sales value, and presented as separate cost heads with detailed disclosures in cost statements. The standard is effective from April 1, 2014.
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