Cost accumulation

Cost accumulation,

Definition of Cost accumulation:

  1. The use of an accounting system to collect and maintain a database of the expenses incurred by a business in the course of its operation. The two main forms of cost accumulation are (1) a job order system where direct materials, staffing and overhead costs are collected under assigned job number and (2) a process costing system where costs are maintained and associated with a particular cost center.

Meaning of Cost accumulation & Cost accumulation Definition