COST OVERRUN Definition

Bookmark and Share

COST OVERRUN is the amount by which an entity exceeds or expects to exceed the estimated cost to completion of: a. a product; b. a process; or, c. the final limitations of costs stipulated in a contract.

Learn new Accounting Terms

ABSORB is to assimilate, transfer or incorporate amounts in an account or a group of accounts in a manner in which the first entity loses its identity and is "absorbed" within the second entity. For example, see ABSORPTION COSTING.

PASS-THROUGH is a mortgage or asset-backed security for which the payments on the underlying debt are passed from the debtor through the servicing agent (who receives a fee) to the security holder.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.