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Simple English definitions for legal terms

cost accounting method

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A quick definition of cost accounting method:

The cost accounting method is a way of recording the value of assets based on their cost. This means that when a company buys something, they record it at the price they paid for it. This method helps companies keep track of their expenses and profits. There are other accounting methods, like the cash-basis method which only considers actual cash received and paid out, and the accrual method which records entries of debits and credits when the liability arises. Each method has its own benefits and drawbacks, but cost accounting is a popular choice for many businesses.

A more thorough explanation:

The cost accounting method is a system used to determine the value of assets based on their cost. This method is used to record the expenses and income of a business for tax purposes.

For example, if a company purchases a machine for $10,000, the cost accounting method would record the value of the machine as $10,000. This method is used to determine the value of assets and expenses, which is important for tax purposes.

Another example of the cost accounting method is when a company records the cost of goods sold. This method is used to determine the cost of producing a product, which is important for calculating profits and taxes.

The cost accounting method is important for businesses because it helps them to accurately record their expenses and income. This method is used to determine the value of assets and expenses, which is important for tax purposes and for calculating profits.

cost accounting | cost and freight

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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
AHHAHAHAHAHAHHAHAHAHAHAHAH
@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
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
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