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2. Cost - Wikipedia

   en.wikipedia.org/wiki/Cost

   In accounting, costs are the monetary value of expenditures for supplies, services, labor, products, equipment and other items purchased for use by a business or other accounting entity. [2] It is the amount denoted on invoices as the price and recorded in book keeping records as an expense or asset cost basis.

3. Cost accounting - Wikipedia

   en.wikipedia.org/wiki/Cost_accounting

   Standard Costing is a technique of Cost Accounting to compare the actual costs with standard costs (that are pre-defined) with the help of Variance Analysis. It is used to understand the variations of product costs in manufacturing. [6] Standard costing allocates fixed costs incurred in an accounting period to the goods produced during that period.

4. Assets vs. Expenses: Understanding the Difference - AOL

   www.aol.com/finance/assets-vs-expenses...

   Assets and expenses are two accounting terms that new business owners often confuse. Here’s what each term means and how to use them in accounting. Assets vs. Expenses: Understanding the Difference

5. Expense - Wikipedia

   en.wikipedia.org/wiki/Expense

   An expense is an item requiring an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or other category of costs. For a tenant , rent is an expense.

6. Cost of goods sold - Wikipedia

   en.wikipedia.org/wiki/Cost_of_goods_sold

   Determining overhead costs often involves making assumptions about what costs should be associated with production activities and what costs should be associated with other activities. Traditional cost accounting methods attempt to make these assumptions based on past experience and management judgment as to factual relationships.

7. Fixed Expenses vs. Variable Expenses: What’s the Difference?

   www.aol.com/fixed-expenses-vs-variable-expenses...

   Final Take To GO. Budgeting can be easier when you breakdown your expenses into three categories — needs, wants and savings. 50% goes to necessities, 30% to wants and 20% to the savings category ...