[ FREE ] 18+ Costs Books PDF

Cost Books PDF: Cost is the monetary value of all sacrifices made to achieve an objective i.e. to produce goods and services. Costs are very important in business decision-making. Its production provides the floor to pricing and helps the manager to take the correct decision, such as what price to quote, whether to place particular order for inputs or not whether to add or abandon a product to the existing product line, and so on. Also, cost refer to the money expenses incurred by a firm in the production process. Cost also included imputed value of the entrepreneur’s own resources and services and the salary of the owner-manager.

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In a business, the cost is the amount of money spent on the production and the creation of a good or service. which does not include a mark-up for profit. From a seller’s point of view, the cost is the amount of money that is spent to produce a product.

For example, if sellers sold their goods at the same price as they cost to produce, then they would break even. This means that they would not lose money on their sales, but they won’t make any profit.

Therefore, from the buyer’s point of view, the cost of a product is known as the price. This is the amount charged for a product by the seller, which includes both the cost to make the product and the mark-up cost added by the seller to produce a profit.

There are various types of costs like Direct costs or explicit costs, Indirect costs or implicit costs, Fixed costs, Variable costs, Accounting costs, etc. To help you understand the cost, we bring you a selected cost books pdf collection in this section of investment and business.

The cost concept is central to business decision-making. It helps in making effective business decisions. Also, the business manager needs to be aware of a number of cost concepts and their respective uses like:

Actual cost- This means the actual expenditure incurred on producing goods and services. Value of raw material, rent, salaries paid, wages, interest on borrowed capital, etc. are some of the examples of the actual costs. Is also known as absolute cost/outlay cost/money cost.

Opportunity Cost- It is measured in terms of the forgone benefits from the next best alternative use of a given resource. For example, the inputs that are used to manufacture a car can also be used in the production of military equipment.

A cost is an expenditure to produce goods and services for sale in the market. It is the outflow of money from the business to gain an inflow of money after the sale of the commodity.

A cost can instead be designated as a fixed cost, that does not vary with changes in the level of activity.

Let’s understand this with an example, the lease of a building will not vary, irrespective of the revenues of a business housed in that facility. Learn in detail about the cost in our collection of Cost books pdf given down below.

You can easily download them for free on any of your electronic devices.