cost element definition

cost element

In activity based costing (which states that products consume activities and activities consume resources), cost of a resource or input consumed by an activity.

Specific function (or a group of functions) which is considered a specific entity for the purpose of estimating, controlling, and reporting costs.

cost element is in the Accounting & Auditing subject.

cost element appears in the definitions of the following terms: cost realism analysis, activity cost pool, standard adders and non-standard adders

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