Cost Accounting definition

Cost Accounting means providing detailed information of the cost of carrying out an operation in a business or a specific portion or process of a business.

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Cost Accounting means the method by which incurred costs are allocated to Grants by classification or type of expenditure linked to performance goals or, in lieu of performance budgeting, as line items of a traditional budget. Regardless of format, Cost Accounting structures for performance budgets should be capable of reporting on the cost of operations at three levels: (1) on an entity-wide (or agency basis); (2) by responsibility segment, defined as a component of the reporting entity that is responsible for carrying out a mission, conducting a major line of activity, or producing one or a group of related products or services; and (3) by segment outputs, that is, the cost centers associated with the separate types of outputs produced within each responsibility segment. “Economic Assistance, Programs, and Services as Set Forth in Title Two” means the annual assistance provided to the Government of the Republic of the ▇▇▇▇▇▇▇▇ Islands by the Government of the United States under the Compact, as amended. It does not include annual payments under section 212 of the Compact, as amended. It would include any financial assistance provided pursuant to section 222 of the Compact, as amended.

Cost Accounting means the accounting procedure concerned with the determination of costs of services provided by the center, as well as the provision of data for control of operations.

Examples of Cost Accounting in a sentence

Records of expenses pertaining to Additional Services and services performed on the basis of a Worker Wage Rate or Monthly Salary Rate shall be kept on the basis of generally accepted accounting principles and in accordance with cost accounting standards promulgated by the Federal Office of Management and Budget Cost Accounting Standards Board and shall be available for audit by the Owner or the Owner's authorized representative on reasonable notice.
Records of expenses pertaining to Additional Services and services performed on the basis of a Worker Wage Rate or Monthly Salary Rate shall be kept on the basis of generally accepted accounting principles and in accordance with cost accounting standards promulgated by the Federal Office of Management and Budget Cost Accounting Standards Board and shall be available for audit by Owner or Owner’s authorized representative on reasonable notice.
Checking the box below shall mean that the resultant contract is subject to the Disclosure and Consistency of Cost Accounting Practices clause in lieu of the Cost Accounting Standards clause.
Cost Accounting Standards (CAS) are mandatory unless, covered by exemption under 48 CR 9903.201-1 and 48 CFR 9903.201-2.
The School shall use the standard state format contained in the Financial and Program Cost Accounting and Reporting for Florida Schools (The Red Book) for all financial transactions and maintenance of financial records.
Cost type Task Orders: Adequate Cost Accounting Systems are mandatory for performing Cost Type Task Orders under the Alliant 2 GWAC.
The Contractor shall be liable to the Government for increased costs or interest resulting from the Contractor’s failure to comply with the Cost Accounting Standards and related clauses, if these clauses are incorporated in this Agreement.
The practices disclosed for this contract shall be the same as the practices currently disclosed and applied on all other contracts and subcontracts being performed by the Contractor and which contain a Cost Accounting Standards (CAS) clause.
The Contractor shall comply with all required Cost Accounting Standards unless covered by exemption under 48 CR 9903.201-1 and 48 CFR 9903.201-2.
Contractor’s records shall be kept on the basis of generally accepted accounting principles in accordance with cost accounting standards issued by the Federal Office of Management and Budget Cost Accounting Standards Board and organized by each Application for Payment period.

More Definitions of Cost Accounting

Cost Accounting means procedure used to distribute costs to various programs or activities responsible for a share of these costs.

Cost Accounting means the method by which incurred costs are allocated to sector Grants by classification or type of expenditure linked to performance goals or, in lieu of performance budgeting, as line items of a traditional budget. Regardless of format, Cost Accounting structures for performance budgets should be capable of reporting on the cost of operations at three levels: (1) on an entity-wide (or agency basis); (2) by responsibility segment, defined as a component of the reporting entity that is responsible for carrying out a mission, conducting a major line of activity, or producing one or a group of related products or services; and (3) by segment outputs, that is, the cost centers associated with the separate types of outputs produced within each responsibility segment.

Cost Accounting means the method by which incurred costs are allocated to Sector Grants by classification or type of expenditure linked to performance goals or, in lieu of performance budgeting, as line items of a traditional budget. Regardless of format, Cost Accounting structures for performance budgets should be capable of reporting on the cost of operations at three levels: (1) on an entity-wide (or agency basis); (2) by responsibility segment, defined as a component of the reporting entity that is responsible for carrying out a mission, conducting a major line of activity, or producing one or a group of related products or services; and (3) by segment outputs, that is, the cost centers associated with the separate types of outputs produced within each responsibility segment.

Cost Accounting. The following cost accounts will be used to track the work of this task order: