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Topic: Cost accounting

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production, costs, and pricing

low cost carriers

marginal costs

full cost accounting

sunk costs

transaction costs

social costs

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capital costs

cost of production theory of value

fixed cost

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	Cost Accounting Standards Board
		Administratively a function located within OFPP is the Cost Accounting Standards Board (CASB), an independent legislatively-established board consisting of five members, including the OFPP Administrator, who serves as chairman, and four members with experience in Government contract cost accounting, two from the Federal government, one from industry, and one from the accounting profession.
		The Board has the exclusive authority to make, promulgate, and amend cost accounting standards and interpretations designed to achieve uniformity and consistency in the cost accounting practices governing the measurement, assignment, and allocation of costs to contracts with the United States.
		The standards are mandatory for use by all executive agencies and by contractors and subcontractors in estimating, accumulating, and reporting costs in connection with pricing and administration of, and settlement of disputes concerning, all negotiated prime contract and subcontract procurement with the United States in excess of $500,000.
	www.whitehouse.gov /omb/procurement/casb.html (181 words)

	Cost accounting - Wikipedia, the free encyclopedia
		Cost accounting is the process of tracking, recording and analyzing costs associated with the products or activities of an organization.
		Costs are measured in units of currency by convention.
		Cost accounting could also be defined as a kind of management accounting that translates the Supply Chain (the series of events in the production process that, in concert, result in a product) into financial values.
	en.wikipedia.org /wiki/Cost_accounting (1528 words)

	Full cost accounting - Wikipedia, the free encyclopedia
		Costs and advantages may be considered in terms of environmental, economical and social impacts.
		The cost of the truck must be allocated over a period of time because every year of its use contributes to the depreciation of the truck's value.
		Understanding the costs of MSW activities is often necessary for compiling the costs of the entire solid waste system, and helps municipalities evaluate whether to provide a service itself or contract out for it.
	en.wikipedia.org /wiki/Full_cost_accounting (1017 words)

	Contracts and Grants - Cost Accounting Standards
		Costs incurred to support a project are treated as direct costs and are charged to sponsored projects when the costs can be specifically identified to the project with relative ease and with a high degree of accuracy and are allowed by all terms and conditions governing a particular award.
		A cost that may be allowable at one institution as a direct charge may not be allowable at another because of the differences in the Disclosure Statement and the FandA cost proposal.
		Cost accounting policies followed for sponsored awards not subjected to CAS will be dependent upon the individual terms and conditions of the awards and may include additional state or sponsor guidelines and regulations.
	www.fis.ncsu.edu /cng/policies/cost_accounting.asp (4673 words)

	Cost Accounting Standards
		Cost accounting provisions have been incorporated into OMB Circular A-21 and "for greater consistency and uniformity" have been extended to all awards--contracts and grants--in excess of $500,000 made to institutions that are major recipients of federal research funds.
		Full coverage of the federal cost accounting regulations involves 19 standards which have been applicable since the 1970's in the private sector and for nonprofit organizations that meet the $10 million threshold in terms of government contracts.
		In short, the way that faculty member A in the Physics Department prepares the cost estimates reflected in his or her budget must be consistent with the way in which faculty member B in Mechanical Engineering prepares his or her budget materials.
	www.research.umich.edu /proposals/budgets/cost_accounting_details.html (539 words)

	Cost Accounting Standards (CAS)
		Costs of an indirect function which exists for only a part of a cost accounting period may be allocated to cost objectives of that same part of the period.
		Costs computed for a cost accounting period are only assignable to that period and are allocable to cost objectives to the extent that liquidation can be compelled or is actually effected.
		The cost of deferred compensation shall be assigned to the cost accounting period in which the contractor incurs an obligation to compensate the employee.
	fast.faa.gov /archive/v1198/pguide/98-30C14.htm (7211 words)

	Office of Research: Division of Sponsored Research - Cost Accounting Standards
		The purpose of this Cost Accounting Standard is to ensure that each educational institution's practices used in estimating costs for a proposal are consistent with cost accounting practices used by the institution in accumulating and reporting costs.
		The Standard is predicated on the proposition that costs incurred in carrying on the activities of an educational institution -- regardless of the allowability of such costs under Government contracts -- are allocable to the cost objectives with which they are identified on the basis of their beneficial or causal relationships.
		Where as directly associated cost is part of a category of costs normally included in an indirect-cost pool that will be allocated over a base containing the unallowable cost with which it is associated, such a directly associated cost shall be retained in the indirect-cost pool and be allocated through the regular allocation process.
	www.research.fsu.edu /contractsgrants/cas.html (1437 words)

	Cost Accounting Standards
		An educational institution's practices used in estimating costs shall be consistent with the educational institution's cost accounting practices used to accumulate and report costs.
		Direct Costs are costs incurred to support a project and are charged to sponsored projects when the costs can be specifically identified to the project with relative ease and with a high degree of accuracy and are allowed by all terms and conditions governing a particular award.
		Cost accounting policies for sponsored awards not subjected to CAS will be dependent upon the individual terms and conditions of the award.
	www.washington.edu /research/gca/ref/cas10_01.html (1374 words)

	Managing Your Way to Profits with Cost Accounting
		"Cost accounting allows particular expenses, for example chemicals and manpower, to be assigned to a particular field, or fields, or broken down into categories which allow for a precise overall picture of expenditures on the farm.
		Cost accounting for farming operations takes another twist when you consider that profitability needs to be tracked by crop year.
		The additional complexity of tracking income and expenses by cost center and crop year in addition to tracking them for tax purposes by fiscal year is the main reason most growers turn to specialized accounting software packages when they decide to implement cost accounting practices.
	www.datatechag.com /information/cost_accounting.htm (2625 words)

	Cost Accounting
		The Cost Accounting module of System 20/20 is a "job cost" module, which allows you to manage the costs of your cost centers.
		The term, "cost accounting" is used instead of the more common term, "job costing" because cost centers may represent either real projects or departmental cost centers.
		The Cost Accounting database is specifically designed to facilitate the generation of user designed report formats using the operating system's integral report writer.
	www.system2020.com /costaccounting.htm (998 words)

	Cost Accounting and Freight Bill
		Cost accounting is a tool, that when applied to transportation it will significantly improve industry’s understanding of this important discipline.
		The critical difference between cost accounting and standard accounting is that cost accounting demands that the cost be identified prior to it becoming an expense.
		Cost accounting for transportation and freight is not yet prevalent and its potential holds out a great deal of promise.
	www.transportgistics.com /cost_accounting.htm (2109 words)

	COST ACCOUNTING
		Studying cost accounting is one of the business investments a student can make.
		Cost accounting provides key data to managers for planning and controlling, as well as costing products, services, and customers.
		Cost accountants are increasingly becoming integral members of decision-making teams instead of just data providers.
	www.rit.edu /~kekbbu/COST_ACCOUNTING.htm (1549 words)

	Cost Accounting Standards Board Disclosure Statement, General Instructions
		Where the cost accounting practice being disclosed is clearly set forth in the contractor's existing written accounting policies and procedures, such documents may be cited on a continuation sheet and incorporated by reference at the option of the contractor.
		Disclosure Statements must be amended when cost accounting practices are changed to comply with a new CAS or when practices are changed with or without knowledge of the Government (Also see 48 CFR 9903.202 3).
		If a contractor has disclosed its cost accounting practices on a prior edition of the Disclosure Statement (CASBDS1), such disclosure shall remain in effect until the contractor amends or revises a significant portion of the Disclosure Statement in accordance with CAS 9903.2023.
	www.whitehouse.gov /omb/fedreg/disclosure3.html (881 words)

	Famous Accounting Software-Cost Accounting 1
		Cost centers can be permanent such as a production facility or temporary such as a one-time job.
		Cost centers can transcend fiscal years; this is useful for crop accounting and other cost centers that may not start/stop on a fiscal year boundary.
		Cost Accounting is integrated with the general Ledger and is maintained under accrual and/or cash along with the general ledger.
	www.famoussoftware.com /version_6/tour/cost_accounting1.html (332 words)

	Cost Accounting in Healthcare (Site not responding. Last check: 2007-10-09)
		Cost accounting is the process of determining the full and incremental costs of providing services and goods to patients and customers.
		Costs may be determined based on historical methods of charging for services, such as patient days and procedures.
		Without accurate cost information, hospitals are at financial risk when making decisions considering current operations as well as long-term plans.
	www.mlcost.com /webdoc1.htm (288 words)

	Cost Accounting
		The practicing accountant usually keeps an old college-level cost accounting book on the shelf, because there are no cost accounting books designed for the professional.
		There is also an ongoing case study, spanning most chapters, showing how a hypothetical company deals with a variety of cost accounting issues.
		Cost Accounting is a highly recommended reference for the practicing Cost Accountant, or anyone for that matter who wants to know where to start controlling their own costs.
	www.stevebragg.com /Pages_Books/Cost_Accounting.html (93 words)

	Cost Accounting \| Accounting > Methods & Standards \| Business solutions from AllBusiness.com
		By allocating service department costs to revenue departments, cost accounting makes it possible to determine the total direct and indirect costs of operating revenue departments.
		COST CONTAINMENT This article describes how a hospital cost accounting system was used to evaluate the financial impact of the use of a new and expensive...
		Management accountants perceived their cost accounting systems as inadequate, according to a survey of 420 members of the Institute of Management Accountants.
	www.allbusiness.com /accounting-reporting/methods-standards-cost-accounting/2976437-1.html (888 words)

	Financial Dictionary — Meaning for Current cost accounting
		An alternative method of historical cost accounting; a system of valuing assets based on their replacement cost rather than their cost when purchased or produced.
		Charges to the profit and loss account, for inventories sold and the depreciation of fixed assets, are based on the value of assets to the business at the date they are used.
		Adjustments are required to depreciation, cost of sales, working capital and gearing, and are reflected in the balance sheet as a current cost reserve.
	www.anz.com /edna/dictionary.asp?action=content&content=current_cost_accounting (199 words)

	Cost Accounting - The Farmer's Office
		The purpose of the cost accounting system is to provide you with information to assist in making management decisions for your farm.
		The crop cost accounting system is updated through the one time entry of information on payroll checks, vendor checks, deposits and pesticide usage.
		Cost accounting reports provide you with both per acre and per yield analysis of income, expenses and profitability.
	www.datatechag.com /software/the_farmers_office/crop_cost_accounting.htm (510 words)

	Intro to Cost Accounting Standards
		Cost accounting standards, as promulgated by the federal Cost Accounting Standards Board, have been incorporated into OMB Circular A-21 and have been extended to all awards--contracts and grants--in excess of $500,000.
		Adherence to these cost accounting procedures has significant implications for the preparation and approval of budget materials in all proposals to federal sponsors.
		The four cost accounting standards with which universities must be in compliance are further detailed in Cost Accounting Standards.
	www.research.umich.edu /proposals/budgets/cost_accounting_intro.html (183 words)

	Cost Accounting
		Cost of Accounting: Traditions and Innovations, by Barfield, Raiborn, and Kinney, Fifth Edition, West Publishing Company.
		COURSE OBJECTIVES: "Cost accounting fundamentals and applications to decision making: relationships of cost, volume and profit; standard costs; variance analysis; activity based costing; quantitative methods and models used in cost accounting." (From the college catalog).
		I have read the syllabus for Cost Accounting course that will be taught by Professor Magnall during the Winter term of 2003.
	www.wartburg.edu /business/syllabi/AC223syl-W03.htm (1111 words)

	Cost Accounting
		Traditional Costing tends to spread overhead based on simple drivers like sales dollars, units, etc. This often results in high volume products/services being over costed and low volume products and services being under costed.
		Cost Object is any reason for which you want to collect costs: products/services/customers, acquisition savings, capacity, channels, shared services/transfer pricing, etc..
		After 20 years of refinement, it is considered most accurate way to do cost accounting today.
	www.valuecreationgroup.com /cost_accounting.htm (182 words)

	Cost Accounting Management Software by Argos Software
		It allows your accounting records to be maintained in more detail -- and separately from your General Ledger.
		The Cost Accounting uses Cost Centers to identify the centers of management responsibility.
		This allows the reports to be displayed in activity sequence, with or without the account detail, or in account sequence, with or without the activity detail...
	cost-accounting.argosoftware.com (349 words)

	Basic Information \| Full Cost Accounting \| Wastes \| US EPA
		Full Cost Accounting (FCA) is a systematic approach for identifying, summing, and reporting the actual costs of solid waste management.
		FCA is not the same as cash flow or general fund accounting, as it focuses on the flow of economic resources (assets) and recognizes costs as resources are used or committed, regardless of when money is spent.
		Other categories of costs that can be included in the scope of FCA, but require special consideration are remediation costs at inactive sites, contingent costs, environmental costs, and social costs.
	www.epa.gov /epaoswer/non-hw/muncpl/fullcost/whatis.htm (322 words)

	Cost Accounting
		The course builds on the foundation of topics covered in the introductory management accounting course and is intended for accounting majors in their junior or senior years.
		Cost Accounting is more technical than the introductory course.
		It covers advanced strategic cost management topics and prepares students for the CPA exam.
	www.georgetown.edu /faculty/kat32/ca.htm (75 words)

	Contract Cost Accounting (Site not responding. Last check: 2007-10-09)
		The reimbursement of costs in connection with "flexibly-priced" and cost reimbursement Government contracts is subject to a startling array of extraordinarily complex rules, many of which are wholly inconsistent with customary commercial practice.
		If a company is fortunate enough to secure sufficient flexibly priced business, it will also be required to structure its accounting system so that its measurement of costs, its allocation of costs to "cost objectives" and its assignment of costs to cost accounting periods comply with anywhere from four to twenty Cost Accounting Standards.
		The rules and regulations governing Government contract cost accounting form a veritable labyrinth that is difficult, if not impossible, for the uninitiated to navigate.
	www.sheppardmullin.com /practice/practicearea.cfm?pracid=167&departmentid=167&dept=1 (628 words)

	Job Cost Accounting from Breuer & Co.
		The job cost accounting module will also print client invoices and statements that are ready for mailing.
		Whether you are looking at the project from the smallest detail or printing reports that analyze the information and present it from different perspectives, job costing accounting provides a continuous flow of information vital to the successful management of your projects.
		An additional feature of the job cost accounting module is that it offers the ability to separately bill and track retainage amounts, on jobs where contractually required.
	www.breuer.com /job_cost_accounting.asp (366 words)

	Amazon.com: Cost Accounting: A Comprehensive Guide: Books: Steven M. Bragg (Site not responding. Last check: 2007-10-09)
		My latest accounting best practices newsletter covers three topics: locking down personal guaranties, a new payment alternative for unbanked employees, and using the profit velocity measurement instead of contribution margin. Click here to read the newsletter on my archives page, or click here to sign up for the free newsletter, which has over 1,000 subscribers.
		My latest accounting best practices newsletter covers three topics: faster cash application to help the collections staff, improving the mailroom interface, and donating excess inventory. Click here to read the newsletter on my archives page, or click here to sign up for the newsletter (it's free!), which has over 800 subscribers.
		How refreshing to have a cost accounting book that addresses the daily issues encountered in the operations of a company rather than a theoretical approach to the subject.
	www.amazon.com /Cost-Accounting-A-Comprehensive-Guide/dp/0471386553 (1398 words)

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