What is the Bangladesh standard on Audit(BSA-300) ? Describes in details

Import landing costing:

The landing cost calculation is a method used to determine the total cost of importing goods or materials into a country. It takes into account various expenses incurred throughout the importation process to arrive at the final cost of the imported goods. The landing cost calculation typically includes the following components:

1. Cost of Goods: 

   This is the purchase price of the goods from the supplier or manufacturer. It includes the invoice price and any additional costs directly associated with the purchase, such as packaging costs.

2. Freight Charges:

    These are the costs associated with transporting the goods from the supplier's location to the importer's location. It includes freight charges, shipping fees, and any related charges for transportation by sea, air, or land.

3. Insurance: 

   The cost of insurance coverage for the goods during transportation is included in the landing cost calculation. It ensures that any potential loss or damage to the goods is covered.

4. Customs Duties and Taxes:

    Import duties, customs fees, and taxes imposed by the importing country are included in the landing cost calculation. These charges vary depending on the type of goods, their origin, and the applicable tariff rates.

5. Handling and Clearing Charges:

   These charges include fees for customs clearance, documentation, port handling, and any other services required to facilitate the importation process.

6. Inspection and Testing: 

   If the imported goods require inspection or testing by regulatory authorities, the costs associated with these activities are included in the landing cost calculation.

7. Warehousing and Storage: 

   If there is a need to store the goods temporarily before distribution or sale, the costs of warehousing and storage facilities are considered.

8. Exchange Rate Fluctuations: 

   If the transactions involve multiple currencies, the impact of exchange rate fluctuations on the cost of goods is taken into account.

By adding up all these components, the landing cost calculation provides a comprehensive estimate of the total cost incurred to import goods into a particular country. This information is crucial for importers to determine the pricing, profitability, and viability of their imported products in the local market.

Import landing cost criteria:

Ø Product price

Ø Inco terms Expense (load+ unload+ Carrying + Vassal rent)

Ø LC charge & commission

Ø Insurance charge

Ø TTI (Total Tax incident,(CD+SD+RD+AT+VAT)

Ø Port charge

Ø Speed money

Ø Shipping freight

Ø Internal load +unload

Ø Inland transport cost

Ø C& F Charge

Here is the "Demo sheet" only learning purpose

XYZ COMPANY LTD.
LANDED COST OF RAW MATERIALS
BA+A3:F22NK NAME: SOCIAL ISLAMIC BANK LTD.
BRANCH NAME: PRINCIPAL BRANC
LC NO : 12022205060(AT SIGHT)
LC DATE : 27.04.2023
		INVOICE QTY	XXXX	MTS
COUNTRY OF ORIGIN : INDIA
SUPPLIERS NAME : xyz
SPECIFICATION :INDIAN BCI RAW COTTON NEW CROP2021-22
RATE PER LB : USC= XXX/LBS
LC VALUE : USDXXXXX
INVOICE-QUANTITY : XXX BALES/      XXXX    MT/    XXXX  KG
COST STATEMENT :
DATE	PARTICULARS	QTY/KGS	VALUE/ USD	VALUE/ TK	MRR NO
XXXX	LC COMMISSION & CHARGE	XXXX	XXXX	XXXX	XXXX
	EDF-233-506075-LC-120212300			XXXX
	INSURANCE PREMIUM(XXXX)			XXXX
	CARRYING BILL(XXXX)			XXXX
	LOADING UNLOADING BILL			XXXX
	PROVISION FOR CLEARING BILL(XXXXXX)			XXXX
	TOTAL	XXXX	XXXX	XXXX
	COST PER KG		XXX	XXXX
	(Short fall )/Surplus Qty	(XXXX)