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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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

Cost

Cash and/or the value of property given to acquire the property received.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
Sources said that over 18000 employees are currently working in CDA and the top civic authority has to pay Rs 7 billion as salaries per annum but due to lavish expenditures of the officers Rs 09 billion are spent as costly vehicles are used by the spouses and siblings of the officers on the expenses of the authority.
Throughout her work as a Human Resources Expert, Nelson believes she has helped save her clients millions of dollars, by helping them avoid costly HR mistakes.
In Human Reproduction journal, he warned against "doling out nicely wrapped presents of unnecessary, ineffective and costly care".
It explored ways in which discipleship means costly involvement in the pain, brokenness and struggles of the world and also involvement in a koinonia which overcomes divisions and hostilities many of which are ancient and deep seated.
The stopper lost the ball just outside the area, Costly picked it up and smashed it low past Dominguez for Honduras's first World Cup goal since 1982.
Get your own paid security to enforce your costly bus fares.
Basic banking services in India are expected to become costly.
According to a survey released earlier this year from Deloitte, global executives are increasingly concerned about the growing risks to their supply chains and costly negative impacts such as margin erosion and inability to keep up with demand.
Medicare could save about $33 million a year on certain prostate cancer drugs if it reinstated policies that pay the price of only the least costly treatment among a group of clinically comparable drugs.
According to an FM Global study of more than 500 multinational companies, businesses with weak risk management practices, compared to those with strong programs, face a 55 times greater risk of property loss due to fire and fire-related losses 4 times as costly (an average of $3.2 million per loss as opposed to S 750,000).
ISLAMABAD, January 28, 2010 (Balochistan Times): The government informed the National Assembly on Thursday there had been embezzlements in the Yellow Cab Scheme started by the then Prime Minister Nawaz Sharif in 1991, under which costly vehicles were sold after importing them without payment of custom duty and it is ready for investigations if parliament ordered it.