Accounting Cost
/ˈækaʊntɪŋ kɒst/
Definitions
- (n.) The actual monetary cost incurred by a firm or individual in acquiring goods or services, recorded in financial accounts.
The accounting cost of the new software included purchase price and installation fees.
Forms
- accounting cost
- accounting costs
Related terms
See also
Commentary
Accounting cost strictly refers to explicit costs recorded in accounts, distinct from opportunity costs, which is crucial when drafting financial or contractual documents to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.