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cost accounting

   Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
cost accountant
n.
An accountant who keeps records of the costs of production and distribution.

cost accounting n.

cost accounting
n
(Economics, Accounting & Finance / Accounting & Book-keeping) the recording and controlling of all the expenditures of an enterprise in order to facilitate control of separate activities Also called management accounting
cost accountant  n
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.cost accounting - keeping account of the costs of items in production
accountancy, accounting - the occupation of maintaining and auditing records and preparing financial reports for a business
costing - cost accounting


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It is true that the raw financial data that financial accounting and managerial cost accounting use as input are always the same.
[ILLUSTRATION OMITTED] Standard cost accounting, which made sense when single-line manufacturing plants were working nonstop to feed virtually unlimited demand, is now the biggest impediment to implementing efficient "lean" manufacturing methods, according to Dan Medley, chief operating officer of Missouri Enterprise.
This means having a CV that shows you have an in-depth knowledge of management and cost accounting principles--particularly budgeting, variance analysis and capital appraisal.
 
 
 
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