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

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

Advocates of true cost accounting assert that its more nuanced approach will address shortcomings in traditional cost-benefit analysis – particularly, failing to consider social and health externalities in depth.

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

By Robert Amory, Jr., with a chapter on cost accounting by Perry Mason.

From U.S. Copyright Renewals, 1976 July - December by Library of Congress. Copyright Office