What does cost control mean?
Definitions for cost control
cost con·trol
This dictionary definitions page includes all the possible meanings, example usage and translations of the word cost control.
Wikipedia
cost control
Cost accounting is defined as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, classifying, allocating, aggregating and reporting such costs and comparing them with standard costs." (IMA) Often considered a subset of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future.Cost accounting information is also commonly used in financial accounting, but its primary function is for use by managers to facilitate their decision-making.
U.S. National Library of Medicine
Cost Control
The containment, regulation, or restraint of costs. Costs are said to be contained when the value of resources committed to an activity is not considered excessive. This determination is frequently subjective and dependent upon the specific geographic area of the activity being measured. (From Dictionary of Health Services Management, 2d ed)
Numerology
Chaldean Numerology
The numerical value of cost control in Chaldean Numerology is: 3
Pythagorean Numerology
The numerical value of cost control in Pythagorean Numerology is: 1
Examples of cost control in a Sentence
For the last couple of years, it's been more about batten down the hatches and cost control. They may be changing the focus slightly now.
CNQ is going to go up and down with the price of oil. Until the price of oil recovers I don't care how good their cost control is.
Budgets have been escalating, f1 is almost a victim of its own success ... All of the big teams wanted cost control. They needed it. They needed saving from themselves.
Chief Executive Dorothy Thompson:
In these conditions we are placing particular focus on business efficiencies and cost control measures.
Price-led cutbacks have virtually stopped, suggesting a growing surplus of copper, unless demand growth accelerates or price-led cutbacks commence, over the past six months we have reduced our cash costs by 50 cents a pound or nearly 20 percent, by focusing on cost control and operational efficiency.
Translations for cost control
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"cost control." Definitions.net. STANDS4 LLC, 2024. Web. 28 Apr. 2024. <https://www.definitions.net/definition/cost+control>.
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