The discipline of estimating, tracking and controlling product and service costs. Accurate cost analysis helps provides the basis for make/buy decisions, market entry and exit, product and process changes, and many other
The accumulation and analysis of costs incurred in the production of goods or services during a specific period, used to obtain unit cost information.
involves the determination of the unit cost of a particular product made by a company, including materials, labor, overheads, etc.
The process of identifying and evaluating production costs.
A branch of accounting that provides information to help the management of a firm evaluate production costs and efficiency.
keeping account of the costs of items in production
The brunch of accounting that is concerned with recording and reporting business operating costs by department, activities, and products.
The process of tracking, recording and analyzing costs associated with the activity of an organization, where cost is defined as 'required time or resources'. Costs are by convention measured in units of currency.
An area of management accounting which deals with the costs of a business in terms of enabling the management to manage the business more effectively.
An accounting process that provides for accumulating all cost incurred to accomplish a purpose, or to complete a unit of work on a specific job.
Procedures used for rationally classifying, recording, and allocating current or predicted costs that relate to a certain product or production process.
That method of accounting which provides for accumulating and recording of all the elements of cost incurred to accomplish a purpose, to carry on an activity or operation, or to complete a unit of work or a specific job.
An accounting system for accumulating expense data that is used to facilitate effective cost control and to make accurate estimates of future costs for use in the pricing of a company's products.
Accounting concerned with providing detailed information on the cost of producing a product or service. Cost center - A non-revenue producing element of an organization. The personnel function is a cost center in that it does not directly produce revenue.
The accounting focused on determining the cost per unit of a manufacturer in order to value inventory and cost of goods sold. It is also used to determine unit costs of items processed in service businesses, such as a bank's cost to process a check or deposit. To Top
Cost accounting is the process of tracking, recording and analyzing costs associated with the products or activities of an organization. In modern accounting, costs are measured in accordance with the Generally Accepted Accounting Principles (GAAP). GAAP reporting records historical events and assigns a monetary value to each event that has taken place.
