cost accounting

American  

noun

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

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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

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Other Word Forms

• cost accountant noun

Etymology

Origin of cost accounting

First recorded in 1910–15

Example Sentences

In many ways, true cost accounting is a modern and improved version of cost-benefit analysis, a method embedded in governmental decision-making in most advanced economies around the world.

From Salon • Feb. 28, 2024

The Swette Center for Sustainable Food Systems at Arizona State University, which I direct, recently conducted a true cost accounting study of cow-calf operations in the Western U.S., in partnership with Colorado State University.

From Salon • Feb. 28, 2024

Under so-called "amortized cost" accounting, total returns from fixed income products are spread out evenly, with the goal of delivering steady gains irrespective of bond price fluctuations.

From Reuters • Dec. 14, 2022

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

The all-embracing term machine shop is divided into departments for drafting, designing, accounting, production, flow of work control, cost accounting and many other divisions.

From Industrial Progress and Human Economics by Hartness, James