cost accounting

noun

: the systematic recording and analysis of the costs of material, labor, and overhead incident to production

Example Sentences

Recent Examples on the Web So, take a hard look at your spending and make some changes (e.g., to a lower-cost accounting software). Mike Kappel, Forbes, 15 July 2022 The cost accounting system must identify what costs are considered direct and what costs are considered indirect. Jennifer Eubanks, Forbes, 19 July 2022 Large government contractors are required to comply with these cost accounting standards. Jennifer Eubanks, Forbes, 19 July 2022 Last month, leaders and advocates gathered at the first-ever UN Food Systems Summit to chart a course for transforming how food is produced around the world—which will require true-cost accounting. Rajiv J. Shah, Fortune, 22 Oct. 2021 Food and raw material prices should shift to true-cost accounting models so that all externalities and subsidies are taken into consideration of pricing. Errol Schweizer, Forbes, 30 Aug. 2021 Are any pursuing B-Corp certification, open book management, true cost accounting or other progressive corporate models? Errol Schweizer, Forbes, 6 May 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'cost accounting.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Word History

First Known Use

1894, in the meaning defined above

Time Traveler
The first known use of cost accounting was in 1894

Dictionary Entries Near cost accounting

Cite this Entry

“Cost accounting.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/cost%20accounting. Accessed 1 Dec. 2022.

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