Cost Accounting

Definition

The process of identifying and evaluating production costs.

Use Cost Accounting in a sentence

You should try and keep up with all of your cost accounting so that you know how well you are doing.

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The cost accounting measure employed was sufficient to provide useful and meaningful data presented in a form that was acceptable.

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Our cost accounting department is assigned the task of identifying all direct and indirect expenses that are properly associated with our cost of goods sold.

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process costing actual cost