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Simple English definitions for legal terms

cost accounting

Read a random definition: generation-skipping tax

A quick definition of cost accounting:

Cost accounting is a way of keeping track of how much it costs a company to make its products or provide its services. This helps the company figure out how much to charge for its products or services so that it can make a profit. It involves recording the value of assets in terms of their cost. There are different methods of accounting, such as cash-basis accounting, which only considers cash actually received as income and cash actually paid out as an expense, and accrual accounting, which records entries of debits and credits when the liability arises, rather than when the income or expense is received or disbursed.

A more thorough explanation:

Cost accounting is a method of recording the value of assets in terms of their cost. It is used to determine the cost of producing goods or services and to help businesses make decisions about pricing and budgeting.

  • A company uses cost accounting to determine the cost of producing a product. They consider the cost of materials, labor, and overhead expenses to determine the total cost of production.
  • A restaurant uses cost accounting to determine the cost of each menu item. They consider the cost of ingredients, labor, and other expenses to determine the price they should charge for each dish.

These examples illustrate how cost accounting is used to determine the cost of producing goods or services and to make decisions about pricing and budgeting.

cost | cost accounting method

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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