cost

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Related to costly: primarily, occasional, perpetually

Cost

The opposite of revenue. An expense that reflects the price of purchasing goods, services and financial instruments. A cash cost means that cash is given up today to the purchase. Also, the purchase price of an investment, which is compared to the sale proceeds to determine capital gain or loss.

Cost

The amount of money or property paid for a good or service. Cost is an expense for both personal and business assets. If a cost is for a business expense, it may be tax deductible. A cost may be paid immediately in the form of cash or over time in a credit sale or similar transaction. Cost is the opposite of revenue: It may be thought of as money spent instead of made.

cost

The expenditure of funds or use of property to acquire or produce a product or service. See also average cost, fixed cost, historical cost, marginal cost, replacement cost, variable cost.

cost

the expenditure upon resources incurred by a firm in producing and selling its output. Each cost is a charge against revenues and profits for the use or consumption of resources during a trading period. (see PROFIT AND LOSS ACCOUNT). Costs can be classified along functional lines, distinguishing between production, selling, distribution, administration and financing costs. Alternatively costs can be classified as either direct costs (usually raw materials and direct labour) or indirect costs (overheads) (see PROFIT AND LOSS ACCOUNT). Costs may also be classified as variable costs and fixed costs, depending on whether they vary with the level of output or activity. In addition, costs may be analysed by product. Finally costs may be classified by location (division, subsidiary, company, department, etc.).

Classification and analysis of costs is necessary for three main business purposes:

  1. for product costing;
  2. for management control;
  3. for decision-making.

Identification and classification of these costs is the core of MANAGEMENT ACCOUNTING. Fig. 28 shows the build up of major cost elements. See PRODUCTION COST, SELLING COST.

cost

the payments (both EXPLICIT COSTS and IMPLICIT COSTS) incurred by a firm in producing its output. See TOTAL COST, AVERAGE COST, MARGINAL COST, PRODUCTION COST, SELLING COST.

Cost

Cash and/or the value of property given to acquire the property received.
References in classic literature ?
Is it not then highly irrational to break the machine-loom and go back to the clumsy and more costly hand-loom method of weaving?
Islamabad -- The Interior Ministry has ordered to conduct inquiry of costly land occupied by foreigners in Bani Gala and directed the authorities concerned to submit report in this regard.
185), would require the most costly rules to undergo more stringent agency analysis, increase public participation in shaping the most costly regulations before they are proposed, and require that agencies choose the least costly option, unless they can demonstrate that public health, safety or welfare requires a more costly requirement.
SIGNED on loan from Polish club GKS Belchatow in 2009, Carlos Costly is remembered by many Blues fans for his fancy drag-back - and not much else.
SUNDERLAND boss Steve Bruce is ready to beat his old club Wigan to the signing of Honduras international striker Carlo Costly (right).
While many of these businesses understand all too well the operational and financial impact of disruption to their business systems and processes, plenty of others still consider DR something akin to getting a root canal--a painful and costly procedure that is best avoided for as long as humanly possible.
Indoor air quality issues such as these and other environmental risks of equal importance including leaking oil tanks, asbestos exposures, lead based paint and more, are legacy risks that can entrap an unsuspecting buyer of residential properties in a web of costly litigation typically not covered by any standard property or casualty insurance program.
AMSTERDAM -- Researchers at the University of Amsterdam suggest that it is much less costly to society to supply heroin to those who are addicted than to deal with them through the current systems of treatment and criminal prosecution.
Transplanting insulin-making cells from fresh cadavers into diabetes patients can reverse the disease, but the procedure has been too costly for widespread use.
help desk and asset management family of products, helps IT managers and network engineers detect and solve potentially costly computer network problems before they occur.
The options are to redesign the assembly--which can be costly and time consuming or work with a custom calendering company and use tight tolerance materials that, even when stacked, will fit perfectly.
is too modest in his claim that free higher education for all who would use it isn't prohibitively costly ("Majoring in Debt," January issue).