Cost Accounting
/ˈkɒst əˈkaʊntɪŋ/
Definitions
- (n.) A method of accounting that focuses on capturing and analyzing all costs incurred in the production of goods or services, often used in legal financial disputes and compliance.
The court examined the company's cost accounting records to determine damages precisely.
Forms
- cost accounting
Related terms
See also
Commentary
In legal contexts, cost accounting is crucial for evaluating damages, disputes over pricing, and compliance with regulations, emphasizing accurate cost tracking and allocation.
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.