cost accounting

American  

noun

1. an accounting system indicating the cost of items involved in production.

---

cost accounting British  

noun

1. Also called: management accounting.  the recording and controlling of all the expenditures of an enterprise in order to facilitate control of separate activities

---

Other Word Forms

• cost accountant
  noun

Etymology

Origin of cost accounting

First recorded in 1910–15

Example Sentences

Some programs used to evaluate their curricula on a three- or five-year cycle because foundational subjects like financial and cost accounting rarely changed.

From The Wall Street Journal • May 18, 2026

The key is a method called true cost accounting, which examines the economic, environmental, social and health impacts of food production and consumption to produce a broader picture of its costs and benefits.

From Salon • Feb. 28, 2024

Using true cost accounting, the report calculates that the global cost of the agrifood system in 2020 was up to US$12.7 trillion more than consumers paid at retail.

From Salon • Feb. 28, 2024

If you need help determining the appropriate method for your industry, it’s advisable to consult a professional tax expert who understands the details associated with different cost accounting methods.

From Encyclopedia.com • Jun. 26, 2018

Simplified cost accounting system per case. © 10Nov43; AA445860.

From U.S. Copyright Renewals, 1971 July - December by Library of Congress. Copyright Office