Define: Total Cost of Ownership

UK Accounting Glossary

Definition: Total Cost of Ownership


Quick Summary of Total Cost of Ownership


The real, total cost of an asset. For example, an asset may cost £2,000 up-front, but have an annual renewal fee of £200; therefore, assuming it’ll have a lifespan of five years, the TCO would be £3,000.



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Total Cost of Ownership. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/total-cost-of-ownership/ (accessed: July 21, 2019).
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Total Cost of Ownership. PayrollHeaven.com. Retrieved July 21, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/total-cost-of-ownership/

Definition Sources


Definitions for Total Cost of Ownership are sourced/syndicated from:

  • Oxford Dictionary Of Economics
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th December 2018.