Define: Waste

UK Accounting Glossary

Definition: Waste

What is the dictionary definition of Waste?

Dictionary Definition

  1. (Spoilage) The volume of material lost during the production process. Acceptable levels of waste, (which are known as normal losses), are part of the cost of production, as such, they are allowed for in the production process.
  2. Refers to any process (or activity) that doesn’t add value.


  1. A wasteland; an uninhabited desolate region; a wilderness or desert.
  2. A place that has been laid waste or destroyed.
  3. A large tract of uncultivated land.


Synonyms For Waste

lose, garbage, wasting, wasted, squander

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Waste. Payroll & Accounting Heaven Ltd. April 01, 2020
Chicago Manual of Style (CMS):
Waste. Payroll & Accounting Heaven Ltd. (accessed: April 01, 2020).
American Psychological Association (APA):
Waste. Retrieved April 01, 2020, from website:

Definition Sources

Definitions for Waste are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 29th January 2019.