Define: Waste

UK Accounting Glossary

Definition: Waste


Quick Summary of Waste




What is the dictionary definition of Waste?

Dictionary Definition


  1. (Spoilage) The volume of material lost during a production process. Acceptable levels of waste, (which are known as normal losses), as 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.

Full Definition of Waste




Waste FAQ's



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
https://payrollheaven.com/define/waste/
Modern Language Association (MLA):
Waste. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 21, 2019 https://payrollheaven.com/define/waste/.
Chicago Manual of Style (CMS):
Waste. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/waste/ (accessed: July 21, 2019).
American Psychological Association (APA):
Waste. PayrollHeaven.com. Retrieved July 21, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/waste/

Definition Sources


Definitions for Waste 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: 29th January 2019.