Top 10 English Slangs for Cost Accountant

Top 10 English Slangs for Cost Accountant 1. Bean Counter The term 'bean counter' is often used to refer to a cost accountant. It originated from the practice of counting beans, which was a common way of keeping track of expenses in the past. 2. FIFO and LIFO FIFO and LIFO are acronyms for 'First In, First Out' and 'Last In, First Out.' These terms are used to describe inventory management methods, which are crucial in cost accounting. 3. COGS COGS stands for 'Cost of Goods Sold.' It represents the direct costs associated with producing or acquiring a product. Understanding COGS is essential for calculating profitability. 4. Overhead In cost accounting, 'overhead' refers to indirect costs that are not directly tied to a specific product or service. Examples include rent, utilities, and administrative expenses. 5. Break-Even Point