ˈcost item
1cost item — A category of costs incurred by an organization that are of a similar nature; they are collected together both for the purposes of reporting and because they can be subjected to similar treatment by the costing system. Examples of cost items are… …
2cost standard — A predetermined level of cost expected to be incurred by a cost item used in the supply, production, or operation of a service, product, process, or cost centre. A cost standard is often applied to a performance standard in order to calculate… …
3Cost escalation — is defined as changes in the cost or price of specific goods or services in a given economy over a period of time. This is a similar to the concepts of inflation and deflation except that escalation is specific to an item or class of items (not… …
4Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
5Cost price — In retail systems, the cost price represents the specific value that represents unit price purchased. This value is used as a key factor in determining profitability and in some stock market theories it is used in establishing the value of stock… …
6Cost contingency — When estimating the cost for a project, product or other item or investment, there is always uncertainty as to the precise content of all items in the estimate, how work will be performed, what work conditions will be like when the project is… …
7cost — The opposite of revenue. An expense that reflects the price of purchasing goods, services and financial instruments. A cash cost means that cash is given up today to the purchase. Also, the purchase price of an investment, which is compared to… …
8Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
9cost — {{Roman}}I.{{/Roman}} noun 1 money needed to buy sth ADJECTIVE ▪ considerable, high ▪ The high cost of energy was a problem for consumers. ▪ enormous, exorbitant, huge, prohibitive …
10Cost of living — For other uses, see The Cost of Living (disambiguation). Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time are often operationalized in a cost of living index. Cost of living… …
