| English | Icelandic |
| ABC code for carrying cost classification | birgðahaldskostnaður (A classifier that names categories in an ABC classification that ranks discrete categories of items according to their carrying cost) |
| ABC code for carrying cost classification | ABC-kóði (A classifier that names categories in an ABC classification that ranks discrete categories of items according to their carrying cost) |
| Accelerated Cost Recovery System | flýtiafskrift (A system of depreciation that assigns depreciation methods to different classes of assets. Created by the Economic Recovery Tax Act of 1981 for U.S. tax purposes and modified by the Tax Reform Act of 1986) |
| accrued cost | uppsafnaður kostnaður (The accumulated value of costs recognized from invoicing a job. The accrued cost is posted to an accrued expense liability account in the balance sheet) |
| accrued cost | áfallinn kostnaður (A transaction that is recorded in a profit and loss account by an expense transaction) |
| accumulated cost | uppsafnaður kostnaður (The costs of inventory, overhead, materials, labor, and services that aggregate into one total cost) |
| actual cost | raunkostnaður, raunverulegur kostnaður (The definite cost incurred in the performance of an activity) |
| adjusted cost | leiðréttur kostnaður (The cost of goods that have been updated with changes in the original purchase prices of the goods) |
| average cost period | meðalkostnaðartímabil (An interval of time that the program uses to calculate average costs of items that use the Average costing method. The program calculates an average cost for the ending date of each average cost period in which an inventory decrease takes place. This average cost is then applied to all inventory decreases with valuation dates in the average cost period) |
| capitalization of cost | eignfærsla kostnaðar (The temporary treatment of the costs of hours, items, and expenses as capital until the revenue is posted) |
| carrying cost | birgðahaldskostnaður (The cost of retaining inventory, whether raw materials, components, or finished goods. Carrying cost typically is expressed as a percentage of inventory value per year or other time period) |
| committed cost | ráðstafaður kostnaður (A commitment made by a legal entity to incur a cost when a future obligation comes due) |
| cost accounting | kostnaðarbókhald (The branch of accounting concerned with identifying and evaluating the cost of producing a product) |
| cost accumulation method | aðferð kostnaðaruppsöfnunar (The method used to classify and allocate transformation costs) |
| cost adjustment amount | upphæð kostnaðarleiðréttingar (The sum of the differences between the original purchase price of the goods and the final price, which includes any additional item charges, revaluation, or rounding amounts) |
| cost center | kostnaðarstaður (An operating unit whose managers are accountable for budgeted and actual expenditures) |
| cost line | kostnaðarlína (The part of a cost template that specifies one or more categories that form the basis of a cost estimate) |
| cost of goods sold | kostnaður seldra vara (An accounting category used to sum the financial consequences of manufacturing products and carrying inventory) |
| cost project | kostnaðarverk (An internal project for which costs of hours, expenses, and items can be registered, but not capitalized) |
| cost template | kostnaðarsniðmát (A method for applying estimates on fixed-price projects and investment projects) |
| cost variance | kostnaðarfrávik (The difference between an expected cost and an actual cost) |
| estimated cost | áætlaður kostnaður (The approximate cost incurred in the performance of an activity) |
| exact cost reversing | nákvæm bakfærsla kostnaðar (The reversal of an inventory transaction, using the same cost for the reversing transaction, for example a return order or a credit memo, as was used in the original transaction) |
| fixed cost | fastur kostnaður (A cost that does not vary with changes in product delivery throughput or output) |
| indirect cost | óbeinn kostnaður (A cost that is not directly attributed to the production of an item or the performance of a service) |
| intangible cost | óefnislegur kostnaður (A cost that cannot be physically measured, such as the cost of poor quality) |
| Modified Accelerated Cost Recovery System | MACRS-kerfi (A method of accelerated depreciation permitted by tax codes that classifies depreciable assets into one of several recovery periods, each of which has a designated pattern of allowable depreciation) |
| replacement cost | endurnýjunarverð (The current cost of replacing an existing asset with a similar asset with equivalent operational capability) |
| standard cost price | staðlað kostnaðarverð (The normal or ideal cost that is used as a comparison to the actual cost. For manufactured items, standard cost price includes labor, materials, and overhead. For purchased items, standard cost price includes purchase price plus transportation and other fees) |
| variable cost | breytilegur kostnaður (A cost that varies based on production or sales volume) |
