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Simple English definitions for legal terms

cost accounting

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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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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