pre-determined costing

pre-determined costing

COSTING systems such as BUDGETARY CONTROL and STANDARD COSTING, where costs and revenues are estimated in advance of the start of the accounting period in which they are to be incurred. Contrast HISTORICAL COSTING.

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