This accounting method attributes a dollar figure to every input required to provide a service.

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Cost accounting involves assigning a dollar value to each input required for providing a service or producing a product. This allows businesses to determine the cost of their services and products, which is essential for pricing decisions and profit analysis. Charge accounting, reimbursement, and contractual allowance are all terms that relate to accounting in the healthcare industry and do not necessarily involve assigning dollar values to inputs.

This Accounting Method Attributes a Dollar Figure to Every Input