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

Derived 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

Using true cost accounting as a guide, policymakers could reallocate some of these vast sums of money toward production methods that deliver net-positive benefits, such as expanding organic agriculture, agroforestry and sustainable fisheries.

From Salon • Feb. 28, 2024

The hope is that because these two methods have many similarities, it should be relatively easy for governments to upgrade to true cost accounting as it becomes more widely adopted.

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

No farm will be eligible to compete for any of them that has not a regular system of cost accounting and whose books cannot be examined and audited by a public auditor.

From Hidden Treasure by Simpson, John Thomas