costing (cost accounting) system
1Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
2cost accounting — cost accountant. an accounting system indicating the cost of items involved in production. Also called, esp. Brit., costing. [1910 15] * * * …
3cost accounting — noun keeping account of the costs of items in production • Hypernyms: ↑accountancy, ↑accounting • Hyponyms: ↑costing * * * noun [noncount] business : a system of recording and studying how much money a company spends * * * ˈcost accounting f46 [ …
4costing — cost‧ing [ˈkɒstɪŋ ǁ ˈkɒːst ] noun [countable, uncountable] ACCOUNTING the process of calculating the cost of a future activity or product, or the calculation itself: • Railtrack originally said the scheme would cost £100 million, but last year… …
5cost ledger control account — cost control account The control account that appears in the financial accounting ledger in an accounting system in which separate books are maintained for the financial and costing records. The balance on the cost ledger control account agrees… …
6accounting — /euh kown ting/, n. 1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.… …
7Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
8cost — Expense; price. The sum or equivalent expended, paid or charged for something. See also actual cost costs net cost rate costing cost bond …
9cost — Expense; price. The sum or equivalent expended, paid or charged for something. See also actual cost costs net cost rate costing cost bond …
10absorption costing — full absorption costing; = total absorption costing The cost accounting system in which the overheads of an organization are charged to the production by means of the process of absorption. Costs are first apportioned to cost centres, where they… …
