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Cost Accounting

A branch of accounting that is concerned with producing the information that enables an entity's management to control and evaluate...

Cost Account

An account that an entity uses to accurately account for certain items of cost. For that purpose, there are specific...

Work In Process Ledger

The principal ledger of a cost department in which all accounts of unfinished jobs and processes are recorded and made...

Job Ledger

The principal ledger of a cost department in which all accounts of unfinished jobs and processes are recorded and made...

WIP Ledger

The principal ledger of a cost department in which all accounts of unfinished jobs and processes are recorded and made...

Downward Demand Spiral

In cost accounting and managerial accounting, it refers to a situation where a company (manufacturer) reduces the number of its...

Death Spiral

In cost accounting and managerial accounting, it refers to a situation where a company (manufacturer) reduces the number of its...

CCA

It stands for current cost accounting; an accounting method (valuation method) that uses current cost as a measure of value....

Current Cost Accounting

An accounting method (valuation method) that uses current cost as a measure of value. It is designed to realistically enhance...

Process Costing

A cost accounting method whereby an entity determines and accumulates direct costs, and allocates indirect costs of a production process...