{"id":443,"date":"2025-08-11T11:02:36","date_gmt":"2025-08-11T10:02:36","guid":{"rendered":"https:\/\/www.thetrainingplace.org\/blog\/?p=443"},"modified":"2025-08-18T10:36:37","modified_gmt":"2025-08-18T09:36:37","slug":"cost-classification-by-element-2","status":"publish","type":"post","link":"https:\/\/www.thetrainingplace.org\/blog\/2025\/08\/cost-classification-by-element-2\/","title":{"rendered":"Cost Classification &#8211; by Element (2)"},"content":{"rendered":"\n<p>Costs can be split into three elements:<\/p>\n\n\n\n<p><strong>Materials <\/strong>&#8211; these will include raw materials for a manufacturer, costs of goods to be<br>resold in a retail organisation or service items or consumables to be used within a<br>business operation.<\/p>\n\n\n\n<p><strong>Labour <\/strong>&#8211; these will include all salary and wages costs to employees, including<br>overtime, commissions and bonuses.<\/p>\n\n\n\n<p><strong>Other expenses<\/strong> &#8211; this will include any other costs that are incurred in the organisations<br>operations, such as, electricity, depreciation, rent, telephone. Most of these types of<br>expenses are usually known as \u201c<strong>overheads<\/strong>\u201d.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.thetrainingplace.org\/aat-level-3\">AAT Level 3 | The Training Place<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Costs can be split into three elements: Materials &#8211; these will include raw materials for a manufacturer, costs of goods to beresold in a retail organisation or service items or consumables to be used within abusiness operation. Labour &#8211; these will include all salary and wages costs to employees, includingovertime, commissions and bonuses. Other expenses &#8230; <a class=\"read-more\" href=\"https:\/\/www.thetrainingplace.org\/blog\/2025\/08\/cost-classification-by-element-2\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20,22,30],"tags":[],"class_list":["post-443","post","type-post","status-publish","format-standard","hentry","category-aat","category-level-3","category-management-accounting-techniques"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cost Classification - by Element (2) - The Training Place Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thetrainingplace.org\/blog\/2025\/08\/cost-classification-by-element-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost Classification - by Element (2) - The Training Place Blog\" \/>\n<meta property=\"og:description\" content=\"Costs can be split into three elements: Materials &#8211; these will include raw materials for a manufacturer, costs of goods to beresold in a retail organisation or service items or consumables to be used within abusiness operation. 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