Current Cost of Supplies


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Current Cost of Supplies

Referring to the net income of a company after accounting for changes in expenses, especially those that affect the company's products. Calculating net income that accounts for the current cost of supplies is most common for companies that produce and sell commodities. For example, because oil and natural gas prices are quite volatile, the current cost of supplies can greatly impact an energy company's net income.
References in periodicals archive ?
Shell s fourth quarter 2013 earnings on a current cost of supplies ( CCS ) basis excluding identified items are expected to be approximately $2.9 billion and were impacted by weak industry conditions in downstream oil products, higher exploration expenses and lower upstream volumes.
Profit on a current cost of supplies (CCS) basis or current-cost accounting -- which strips out changes to the value of oil and gas inventories -- was set to plunge 70 per cent to about $2.2 billion (e1/41.6 billion) in the three months to December, from $7.3 billion a year earlier.
| BRUSSELS, Oct 31 (KUNA) -- Royal Dutch Shell Thursday reported a drop of 32 percent in its third quarter 2013 earnings which were USD 4.2 billion compared with USD 6.2 billion in the same quarter a year ago on a current cost of supplies (CCS) basis .