COSTS

VOCABULARY

Marketing and Finance Program

Semester third

Paola Andrea Rincón GonzálesLinda Jiseth Rincón Ochoa

1. Statement of Income: it is a statement showing the financial capacity owned by the company to generate new resources at the end of each business cycle.

2. Cost: is all expenditure of money or resource allocation runs a person or business so as to allow it to manufacture a good or of a service, in order to obtain benefits or future.

3. Spending: is all expenditure of money or resource allocation in due course meant a cost to the company, so that at a given date are expired, since they have already generated the expected benefits.

4. Loss: is represented by the cost of items or services purchased by a company, which have totally or partially lost their value, since they do not represent the same benefit to this than expected at time of purchase

5. Chart of accounts: a list of accounts in order and systematic manner, usually coded according to the nature of them, which takes an entity to register their business.

6. Balance sheet: comprises assets, liabilities and equity of a company at a given time: It is a condition that primarily demonstrates the economic and financial situation that represents an entity to a dad date and is said to be essentially static is like a photograph in a given time.

7. Statements of income: seeks detail the source of income and composition of expenditure incurred in the period, is dynamic and reflects the economic capacity owned by the company to win new resources

8. Production orders: transmitted to the head of production department instructions which must be made

9. Materials request: specifies the amount and cost of materials used in production processes

10. Time Card: displays the number and cost of labor used in the production

11. Sheet or departmental cost report: accumulate costs of raw materials, labor and manufacturing costs.

12. Raw material MP: Is the direct material used in the manufacturing process, which clearly identifies c on a product or batch of products

13. Labor: is the cost incurred by the company by having the human effort to the realization of direct fragile tasks

14. Indirect manufacturing costs: are those costs that can not be identified with a product or batch production

15. Direct costing: is system is based mainly on the analysis of the variability of the costs incurred by the company, considering cost of an item all those values that vary directly with the volume of production while those that remain unchanged to the change is considered as an expense

16. Historical costs: in this case the costs are calculated when a product has completely finished in the period previously defined

17. Pre-determined costs: are estimates of production costs incurred by a company, whereby the cost of an item is called before the production itself, such costs can be estimated or standards.

18. Mixed costs: are those that jointly use historic costs and pre-determined

19. Order of production: is the form that is issued by the department of planning and control or similar movements put into the functions of the other departments of the company to begin production.

20. Return of Materials: originates in the production department of the entity and is intended to refer to the winery those materials that have been left over in the production process, the copy of this document was sent to department costs to be lowered in order corresponding production.

21. Collection Sheet for feedstock: a worksheet that is used in the cost department, which is structured by columns for each production order is processing company, in which the total raw material costs are recorded used in each production and total leaf moves to the respective costs.

22. Staff remuneration: in it the payment of remuneration is carried out to remove workers, taken into account the wage system used by the company, in this form to the employee, the gross amount of remuneration, legal descuentios is identified, tales des variables and the liquid to be received by each officer.

23. State sales costs: is to present the cost of goods sold which is formed in the beginning inventory plus the cost of finished manufactured that period, which lowers the ending inventory of finished goods products.

24. Depreciation: is the expense that every company must take measures that fixed assets wear out through use and lose their value

25. Provision: systematic savings that the owner should do well to replace well worth zero dollars when accounting

26. Costing: is the way I organize or calculating costs, I used to fix prices, reduce and control costs, future planning and decision making