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  2. Cost pool - Wikipedia

    en.wikipedia.org/wiki/Cost_pool

    Cost pools is an accounting term that refers to groups of accounts serving to express the cost of goods and service allocatable within a business or manufacturing organization. [1] The principle behind the pool is to correlate direct and indirect costs with a specified cost driver, so to find out the total sum of expenses related to the ...

  3. Activity-based costing - Wikipedia

    en.wikipedia.org/wiki/Activity-based_costing

    Activity-based costing records the costs that traditional cost accounting does not do. The overhead costs assigned to each activity comprise an activity cost pool. From a historical perspective the practices systematized by ABC were first demonstrated by Frederick W. Taylor in Principles of Scientific Management in 1911 (1911.

  4. Pooling (resource management) - Wikipedia

    en.wikipedia.org/wiki/Pooling_(resource_management)

    In acquisition, pooling of interest was a merger-accounting method that was taken out of the market in the United States by the Financial Accounting Standards Board on June 30, 2001. [1] The method combines the book value of assets and liabilities of the two companies to create the new balance sheet of the combined companies.

  5. Construction accounting - Wikipedia

    en.wikipedia.org/wiki/Construction_accounting

    These are all cost related to the construction process, right from materials, labor costs, consultancy and all management expenses. Construction accounting involves charging construction costs to the applicable contract. Costs fall into three categories. Direct costs are labor, material, and subcontracting costs, land. [2]

  6. Cost accounting - Wikipedia

    en.wikipedia.org/wiki/Cost_accounting

    An important part of standard cost accounting is a variance analysis, which breaks down the variation between actual cost and standard costs into various components (volume variation, material cost variation, labor cost variation, etc.) so managers can understand why costs were different from what was planned and take appropriate action to ...

  7. Percentage-of-completion method - Wikipedia

    en.wikipedia.org/wiki/Percentage-of-Completion...

    Revenues and gross profit are recognized each period based on the construction progress, in other words, the percentage of completion. Construction costs plus gross profit earned to date are accumulated in an asset account (construction in process, also called construction in progress), and progress billings are accumulated in a liability account (billing on construction in process).