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Implicit cost
according to economics implicit cost should not be recorded in the books of accounts.But why partners salary is included in p and l appropriation account?
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https://www.caclubindia.com/forum/implicit-cost-553761.asp?offset=0
I have gone through a point that :
if industries use raw materials from natural resources then those materials are not treated as raw materials.
what is ur opinion on this?
if industries use raw materials from natural resources then those materials are not treated as raw materials.
what is ur opinion on this?
Natural resources will be treated as raw materials and all the cost associated with extraction, collections, transport of the same will be considered as Direct Cost. Cost involved for procuring License Fee for such activity should also be considered as Business Cost.
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