Cost Concepts

Cost Accounting has its own terminology. These are words, terms or technical expressions commonly used to identify objects, elements, expenses etc., applied in the company every day. The most common are given below:

confluencepage-219e373d-a1aa-4959-9525-4f0ef8725388
admin-IN-316fd0ae-5f3c-4db9-ac26-cbdf4ff8a7d1-1507579308097-84ce4e21-0b90-44ae-834e-0d47dbd37914
confluencepage-064e128e-591f-41ac-9a3a-3975336373b1
admin-IN-316fd0ae-5f3c-4db9-ac26-cbdf4ff8a7d1-1507579308097-4e4cd945-74da-448c-b462-6a4b8720f01a
confluencepage-63710bf8-654f-467e-9cb8-b6e35d7c614d

Elements

There are three basic elements of industrial cost:

confluencepage-df24e6a8-7a5b-4655-bb7f-1a971043b37e
confluencepage-43b57c94-bd9f-4bb6-863a-c25bc8aac100
admin-IN-316fd0ae-5f3c-4db9-ac26-cbdf4ff8a7d1-1507579308097-d0d14411-6ede-46ba-96c5-2eb3170f19a5

Classification

confluencepage-a2a25085-fe23-42e2-b2f5-cdc734205729
confluencepage-1dbe9952-5893-479f-a3a2-04377b483118

Costing Systems

confluencepage-75b3004a-920d-44f0-b025-0c39b7b05c71
confluencepage-fd6613e1-9d56-42b6-9b4f-93a6b876e245

Direct Costing and Absorption Costing

confluencepage-a32eb942-43f2-45ca-b97d-1fcb8f94c34f