cost

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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 telegram's embodiment of the links between costliness and circulation illuminates the countless instances in which characters are figured as similar embodiments of both coin and circulation: as in the Prince's imagining of Charlotte as a "loose silk purse, well filled with gold pieces" (73) and his self-imagining as an "old embossed coin, of a purity of gold no longer used" (56) which can no longer be "changed" or circulated.
The PPR weight, which is a measure of the relative costliness of subsequent readmissions, also increases with patient severity of illness during the initial admission.
Nicolas (2002) for Spain; Forster and Jones (2000) for Britain) show that a permanent 10% increase in costliness will reduce duration of smoking by about 10%.
Smith labeled some of them "oops" turnovers - a pass off a hand or dribble off a foot - but the euphemism does little justice to the costliness of the errors.
This is because when setting DRG payments, CMS generally needs data that are representative of the Medicare population, timely, and complete in that the data include the total charge or other measure of costliness for all services provided during an inpatient stay, including new technologies.
The former was the first person to call the Magi kings in his Adversus Judaeos, probably because of the prophecy in Psalm 72, verses 10-11, that kings would come to worship Jesus bearing gifts, and because of the costliness of the gold, frankincense and myrrh offered.
These poppenhuis were not children's toys; in fact, they are more akin to the wunderkammers and cabinets of curiosity of the era in both costliness and seriousness.
For developing countries, a recent overview of crop insurance studies concludes that the costliness of informal household risk management strategies imply a positive demand for a fair value insurance contract.
That is likely to make it tricky for the Lions to add the four or so wins necessary to convert their fine start into a post-season invitation, and highlights the costliness of their defeat to Arizona on Sunday.
Though Diaz Marcos explores the semiotics of Rosalia's obsession with silks and styling, Galdos's novel elaborates a point about fashion that refers the reader to its materiality: the middle-class Rosalia de Bringas, in all her fantasizing about new fabrics, new clothing, exhibits a perverse horror of fashion itself, for fashion, given the costliness of textiles, required of actual burgues consumers that somebody (whether a criada, a seamstress, or the wearer herself) perform the drudgery of reworking old garments in the attempt to satisfy both one's limited budget and fashion's endlessly changing dictates.
The value of the dollar has New York City ranked behind eight other metropolises, including London and Milan, in terms of costliness.