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cost accounting
(redirected from cost accountant)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia 0.06 sec.
Cost accounting
A branch of accounting that provides information to help the management of a firm evaluate production costs and efficiency.

cost accounting
The field of accounting that measures, classifies, and records costs. A cost accountant, for example, might be required to establish a system for identifying and segmenting various production costs so as to assist a firm's management in making prudent operating decisions.

cost accounting
A branch of accounting that observes and calculates the actual costs of a company's operations. Internal managers, rather than auditors, use cost accounting most of the time to identify aspects of their company where costs can be cut. For example, a manager may enlist a cost accountant to determine the most expensive aspects of his/her business that is, where the money goes. The accountant may make a detailed report so that the manager may make decisions based upon it. Because cost accounting is primarily internal, it need not conform to the Generally Accepted Accounting Principles. See also: Assurance, Activity-based costing.


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``I worked as a cost accountant, then technical typist during the day and played my music at night.
Factors that can get you to commit to a string of mountain-size payments even when a cost accountant can't.
Wayman, 61, joined HP in 1969 as a cost accountant and held a variety of finance positions before being named CFO in 1984.
 
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