A process of cash basis accounting that categorizes costs as they paid in cash and considered on the general ledger at the point of sale. This occurs when a business pays for sing cash or checks but not when using credit. Credit costs paid would not be posted to the general ledger until the actual cash payment has been received. The method is opposite of the accrual cost recognition method which has a direct impact on the operating cash flow figure. Companies now tend to shy away from using cash cost methods since the accrual method will include credit as well as cash transactions at the same time.
Related information about cash cost:
- Cash Cost Definition | Investopedia
A cash basis accounting cost recognition process that classifies costs as they are paid for in cash, and is recognized in the general ledger at the point of sale.
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Definition of cash cost: A process of cash basis accounting that categorizes costs as they paid in cash and considered on the general ledger at the point of sale.
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Users should not rely on information in this worksheet for any purpose other than gaining a general knowledge of how to calculate a mining C1 cash cost.
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