Cost Type Accounting

Flashcards created for key terms and concepts from the Cost Type Accounting lecture notes.

Cost Type Accounting (Kostenartenrechnung)

The process of categorizing costs within an organization to analyze expenses and revenues.

Profit and Loss Account (GuV)

A financial statement showing the revenues, costs, and expenses during a specific period.

Management Accounting

Branch of accounting focused on providing information to internal management for decision-making.

Financial Accounting (Finanzbuchhaltung)

Branch of accounting that prepares financial statements for external users such as investors and regulators.

Imputed Depreciations (kalkulatorische Abschreibungen)

Depreciation calculated for management accounting purposes that may differ from statutory depreciation.

Unlike Costs (Anderskosten)

Costs that differ from the costs recognized in financial accounting.

Additional Costs (Zusatzkosten)

Costs that only exist in management accounting but not in financial accounting, like employer's salary.

Operating Capital (betriebsnotwendiges Kapital)

Capital required for conducting business operations, excluding non-operational capital.

Imputed Interests (kalkulatorische Zinsen)

An estimate of interest costs allocated in cost accounting to assess the cost of capital.

Enterprise Result (Unternehmensergebnis)

The net result of the company's operations, including all revenues and expenditures.

Cost Correction (kostenrechnerische Korrekturen)

Adjustments made in management accounting for more accurate cost reporting.

Neutral Costs (neutrale Aufwendungen)

Costs associated with non-operating activities that do not relate directly to the company’s core business.

Business-related Separation (unternehmensbezogene Abgrenzung)

The process of distinguishing between operational and non-operational activities in cost accounting.

Expenditures (Aufwendungen)

Cash outflow incurred in the process of generating revenues.

Revenues (Erträge)

Income generated from normal business operations.

Wages (Löhne)

Compensation paid to employees for their work.

Depreciation (Abschreibung)

Reduction in the value of an asset over time due to usage and wear.

Fixed Assets (Anlagevermögen)

Long-term assets used in the business that are not expected to be converted to cash within a year.

Determining Costs and Performances (Kosten und Leistungen ermitteln)

The process of analyzing and classifying production costs and services rendered.

Imputed Risks (kalkulatorische Wagnisse)

Estimates of potential business risks factored into cost assessments.

Sales Revenues (Umsatzerlöse)

The income from sales of goods and services.

Balance Sheet (Bilanz)

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity.