https://www.taxtmi.com/acts?id=20015 The Standard prescribes uniform principles for classification, measurement and assignment of overheads: define overheads as indirect materials, employees and expenses; measure procurement-related overheads at invoice or agreed price net of recoverable taxes and exclude imputed, finance and material abnormal costs; deduct recoveries and incentives; assign costs by traceability or by cause and effect or benefits received (standby facilities by expected benefits); absorb variable production overheads on actual capacity and fixed production overheads on normal capacity; present separate cost heads and disclose assignment basis, recoveries, abnormal costs and material accounting changes. en-us Fri, 11 Sep 2015 17:24:53 +0530 Fri, 11 Sep 2015 17:46:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20015 The Standard prescribes uniform principles for classification, measurement and assignment of overheads: define overheads as indirect materials, employees and expenses; measure procurement-related overheads at invoice or agreed price net of recoverable taxes and exclude imputed, finance and material abnormal costs; deduct recoveries and incentives; assign costs by traceability or by cause and effect or benefits received (standby facilities by expected benefits); absorb variable production overheads on actual capacity and fixed production overheads on normal capacity; present separate cost heads and disclose assignment basis, recoveries, abnormal costs and material accounting changes. Act-Rules Companies Law Fri, 11 Sep 2015 17:24:53 +0530 https://www.taxtmi.com/acts?id=20015