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CIMA C02 Key Terms

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Classifying costs

Description

ATI Year 2 \chapter 2 Classifying costs

Flashcards by Agnes Devlin, updated more than 1 year ago

	Created by Agnes Devlin over 6 years ago

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Resource summary

Question	Answer
Cost - the expenditure incurred on or attributable to a specific thing or activity Cost Unit -is an identifiable product or service for which firm wants to measure the cost Cost measurement systems collect cost data and assign this costs to cost objectives	Cost centre - function or location or activity or an item of equipment for which cost is measured. Directly related to cost objective Accounting department = prep of accounts for clients

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