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
Modern Language Association (MLA):
Waste. Payroll & Accounting Heaven Ltd. November 17, 2019
Chicago Manual of Style (CMS):
Waste. Payroll & Accounting Heaven Ltd. (accessed: November 17, 2019).
American Psychological Association (APA):
Waste. Retrieved November 17, 2019, from website:

Definition Sources

Definitions for Waste are sourced/syndicated from:

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