Introduction terms in cost Accounting terms

Introduction terms in cost Accounting terms:-

Cost: - 

  As a noun -

                  The Amounts of expenditure incurred on or attributable to a specified product, article or              an activity.

 As a verb -  

                  To ascertain the cost of a specified thing or activity.  

Costing: -

 the technique and process of ascertaining the costs.

Cost accounting:-

The process of accounting for cost which starts with the recording of earning and Expenses or basis on which they calculated & ends with the preparation of periodical statements & reports for a ascertaining and controlling the cost.