{ "@context": "https://schema.org", "@type": "Organization", "name": "Brainscape", "url": "https://www.brainscape.com/", "logo": "https://www.brainscape.com/pks/images/cms/public-views/shared/Brainscape-logo-c4e172b280b4616f7fda.svg", "sameAs": [ "https://www.facebook.com/Brainscape", "https://x.com/brainscape", "https://www.linkedin.com/company/brainscape", "https://www.instagram.com/brainscape/", "https://www.tiktok.com/@brainscapeu", "https://www.pinterest.com/brainscape/", "https://www.youtube.com/@BrainscapeNY" ], "contactPoint": { "@type": "ContactPoint", "telephone": "(929) 334-4005", "contactType": "customer service", "availableLanguage": ["English"] }, "founder": { "@type": "Person", "name": "Andrew Cohen" }, "description": "Brainscape’s spaced repetition system is proven to DOUBLE learning results! Find, make, and study flashcards online or in our mobile app. Serious learners only.", "address": { "@type": "PostalAddress", "streetAddress": "159 W 25th St, Ste 517", "addressLocality": "New York", "addressRegion": "NY", "postalCode": "10001", "addressCountry": "USA" } }

Core-Cost Accounting Language Flashcards

(9 cards)

1
Q

Cost object

A

Any item (product, service, activity, customer, channel) for which a separate cost measurement is required

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2
Q

Cost driver

A

A factor that causes a change in the cost of an activity (e.g. labour‑hours, kWh)

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3
Q

Product costs

A

Manufacturing costs that are capitalised in inventory and expensed when the product is sold

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4
Q

Period costs

A

Non‑manufacturing costs (e.g. admin, selling) expensed in the period incurred

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5
Q

Direct vs Indirect costs

A

Direct: traced economically to a cost object; Indirect (overheads): need allocation/apportionment

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6
Q

Variable cost

A

Changes in direct proportion to activity volume

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7
Q

Fixed cost

A

Remains unchanged within the relevant range for a given time span

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8
Q

Semi‑variable (mixed) cost

A

Contains both fixed and variable elements

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9
Q

Stepped fixed cost

A

Fixed in a band of activity, then jumps to a new level once capacity is exceeded

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