Glossary

Reset Glossary
prime cost

Subject: 

  • Accounting

(also called direct cost, direct expense or prime expense) expense linked directly to the manufacturing process

Related Terms: 

expense

Related Content

profit
Subject:
Accounting

the money a business makes when its income exceeds its expense.

accounting control measure
Subject:
Accounting

internal control measure applied by making sure that accounting data is kept properly in order...

accounting cycle
Subject:
Accounting

the five main stages of the accounting process: source → documents → ledger (T-accounts) → Trial...

fixed instalment method
Subject:
Accounting

method for calculating depreciation whereby a fixed amount or percentage of the cost price is...

indirect raw material expense
Subject:
Accounting

(also called indirect raw material cost) expense for raw materials such as consumable stores,...