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what is the cost object? what is the defference between
cost object and cost center?
Answers were Sorted based on User's Feedback
Answer / rousseau m
A Cost Object is a reference to an activity, a product or a
service for which against which costs/efforts are
calculated.
A Cost Center is a division or a department in an
Organization which generates Cost or which incurs the Cost.
Is This Answer Correct ? | 13 Yes | 2 No |
Answer / ashok iyer
Cost object means anything for which cost is to be determined.
Is This Answer Correct ? | 8 Yes | 0 No |
Answer / latha
cost center is a type of cost object. Cost object is one
where costs are captured
Is This Answer Correct ? | 10 Yes | 8 No |
Answer / sreekanta
Cost object is an item of expenditure like salary,rent etc.
Cost center is an area of activity. it could be activity of
income or activity of expenditure. When an activity center
is comprises of only expenditure it referred as cost center.
when the activity center has both income & expenditure
related to it, it is referred as Profit center. For e.g. a
regional sales office is a profit center. it can generate
income (sales), it also relates expenditure like salary,
rent, advertisement,stationery etc. HR dept in an
organization is a cost center since it is only a service
dept for internal requirement of the organization.
Is This Answer Correct ? | 13 Yes | 12 No |
Answer / wilky
Cost object may be a product,location of the organisation
or a service center.cost center means any dept or machinary
or anything of the organisation which is responsible only
for cost.it is also a classification under cost object.
Is This Answer Correct ? | 3 Yes | 2 No |
Answer / haris
cost object is a cost it is used for carrying cost for a cost element cost element is not a cost object it just transfer one cost object to another cost object cost objects are cost center , internal order , business area , production order
Is This Answer Correct ? | 0 Yes | 0 No |
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