cost

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Related to Associated cost: Outlay Costs

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 periodicals archive ?
"The associated costs (of protecting the environment) are much lower than the degradation."
Starting with an overview of a "50-year odyssey" to evaluate ICT investment, the book goes on to review the elusive nature of some ICT benefits, associated costs and issues concerning costing.
The source provides accurate control of the temperature prone and, thereby, greater control of the deposition rate, reducing material waste and associated costs. Available in two sizes, with 2-cc or 4-cc charge capacity, the source body contains a heating element, a temperature sensor and an interchangeable crucible.
With the significant growth of the required electronic data and with the advent of health care regulations as well as the associated costs of operational backup/recovery, archiving, and disaster recovery, is it possible that the costs of emerging technologies will exceed the costs associated with the previous method using physical film?
"Baby boomers are redefining retirement--it's now an active retirement consisting of travel and new hobbies--all of which has associated costs," said Perkins.
Using text messaging to notify clients of STD test results can save clinics time and money, as well as reduce the amount of time it takes for infected individuals to begin getting treatment, according to a study examining the experience of a London sexual health clinic.(1) During the first six months that it offered clients the option of receiving test results via text message, the clinic sent 952 STD results this way; in the final month, one-third of all test results were sent by text message, and the clinic saved 46 hours in staff time and 40% in associated costs. In all, 49 clients tested positive for chlamydia during the study period; 28 of them were notified via text message, and the rest by phone or on a return visit to the clinic.
In most settings, it replaces faxing or courier distribution and their associated costs and frustrations.
The NovaDrier N-R series has a more efficient membrane that can reduce compressed-air usage and associated costs. Improved air filters have new elements that reduce pressure drop and now last for a year instead of six months, cutting replacement costs by 35% to 40%.
Cairns has managed to claim pounds 16,423 for postage and "associated costs" out of a total expenses claim of pounds 145,685.
More than 95 percent of companies polled in the survey report that a "reduction of staff time and associated costs to test internal controls" are central to maintaining effective Section 404 compliance.
"With this new initiative, we will be better able to bring our finest products and technologies to the marketplace in a shorter period of time with lower associated costs," said Zongshen PEM president Jim Wei.

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