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Cost curve; Cost driver; Cost object; Cost of equity; Cost of goods sold; Cost of HIV treatment; Cost of poor quality; Cost of revenue; Cost overrun; Cost per mille; Cost per paper; Cost pool; Cost price; Cost principle; Cost reduction; Cost–benefit analysis; Cost-effectiveness analysis; Cost-minimization analysis; Cost–utility analysis ...
Non-overhead costs are incremental such as the cost of raw materials used in the goods a business sells. Operating Cost is calculated by Cost of goods sold + Operating Expenses. [citation needed] Operating Expenses consist of : Administrative and office expenses like rent, salaries, to staff, insurance, directors fees etc.
Standard Costing is a technique of Cost Accounting to compare the actual costs with standard costs (that are pre-defined) with the help of Variance Analysis. It is used to understand the variations of product costs in manufacturing. [6] Standard costing allocates fixed costs incurred in an accounting period to the goods produced during that period.
Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production. Eventually, costs have to be allocated to individual units of product.
CVP is a short run, marginal analysis: it assumes that unit variable costs and unit revenues are constant, which is appropriate for small deviations from current production and sales, and assumes a neat division between fixed costs and variable costs, though in the long run all costs are variable.
Management accounting is an applied discipline used in various industries. The specific functions and principles followed can vary based on the industry. Management accounting principles in banking are specialized but do have some common fundamental concepts used whether the industry is manufacturing-based or service-oriented.
On an income statement, "operating expenses" is the sum of a business's operating expenses for a period of time, such as a month or year. In throughput accounting , the cost accounting aspect of the theory of constraints (TOC), operating expense is the money spent turning inventory into throughput . [ 4 ]
Product/Service cost accounting also referred to as Product Costing, is where all of the assigned costs that are product related will be collected in the GPK costing model. In GPK's purest marginal form only proportional costs are assigned to products or services, but as indicated above a compromise is often struck by also assigning product ...
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