Overburden removal cost standard sets uniform rules for measurement, assignment, exclusion, and mine-wise disclosure in cost statements. Cost Accounting Standard CAS-23 (Revised) governs the measurement, assignment, presentation and disclosure of overburden removal cost in cost statements. It defines the principal concepts used in mining cost accounting, including overburden, stripping activity, stripping ratio, standard or average stripping ratio, current ratio, advance stripping, mines overheads, abnormal cost, imputed cost and related terms, and provides for periodic review of the standard stripping ratio. Overburden removal cost is measured as the aggregate of direct and indirect costs attributable to the activity, with development-phase costs capitalised where future economic benefits are probable and developed-area costs charged to ore production at the standard stripping ratio.
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.
Overburden removal cost standard sets uniform rules for measurement, assignment, exclusion, and mine-wise disclosure in cost statements.
Cost Accounting Standard CAS-23 (Revised) governs the measurement, assignment, presentation and disclosure of overburden removal cost in cost statements. It defines the principal concepts used in mining cost accounting, including overburden, stripping activity, stripping ratio, standard or average stripping ratio, current ratio, advance stripping, mines overheads, abnormal cost, imputed cost and related terms, and provides for periodic review of the standard stripping ratio. Overburden removal cost is measured as the aggregate of direct and indirect costs attributable to the activity, with development-phase costs capitalised where future economic benefits are probable and developed-area costs charged to ore production at the standard stripping ratio.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
