What does cost accounting mean?

Definitions for cost accounting

Here are all the possible meanings and translations of the word cost accounting.

Princeton's WordNet

  1. cost accounting(noun)

    keeping account of the costs of items in production


  1. Cost accounting

    Cost accounting is a process of collecting, analyzing, summarizing and evaluating various alternative courses of action. Its goal is to advise the management on the most appropriate course of action based on the cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Since managers are making decisions only for their own organization, there is no need for the information to be comparable to similar information from other organizations. Instead, information must be relevant for a particular environment. Cost accounting information is commonly used in financial accounting information, but first we are concentrating on its use by managers to make decisions. Unlike the accounting systems that help in the preparation of financial reports periodically, the cost accounting systems and reports are not subject to rules and standards like the Generally Accepted Accounting Principles. As a result, there is wide variety in the cost accounting systems of the different companies and sometimes even in different parts of the same company or organization.


  1. Chaldean Numerology

    The numerical value of cost accounting in Chaldean Numerology is: 1

  2. Pythagorean Numerology

    The numerical value of cost accounting in Pythagorean Numerology is: 2

Images & Illustrations of cost accounting

  1. cost accountingcost accountingcost accounting

Translations for cost accounting

From our Multilingual Translation Dictionary

  • ವೆಚ್ಚ ಲೆಕ್ಕಪತ್ರ ನಿರ್ವಹಣೆKannada

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"cost accounting." Definitions.net. STANDS4 LLC, 2018. Web. 19 Mar. 2018. <https://www.definitions.net/definition/cost accounting>.

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