Please tell me the meaning of term "cost elements" in financial planning
Thank you

Hi, thilak!

Since you have posted your question in one of the business topic areas of this site, I did find on the following site definitions that might be helpful to you. I hope that they are.
http://www.businessdictionary.com/definition/cost-element.html

There are a number of links in the definitions that might also be helpful for you to click on.



Cost Element

Definition 1

In activity (http://www.businessdictionary.com/definition/activity.html) based costing (http://www.businessdictionary.com/definition/costing.html) (which states (http://www.businessdictionary.com/definition/state.html) that products (http://www.businessdictionary.com/definition/product.html) consume activities (http://www.businessdictionary.com/definition/activity.html) and activities consume resources (http://www.businessdictionary.com/definition/resource.html)), cost (http://www.businessdictionary.com/definition/cost.html) of a resource (http://www.businessdictionary.com/definition/resource.html) or input (http://www.businessdictionary.com/definition/input.html) consumed by an activity.

Definition 2

Specific function (http://www.businessdictionary.com/definition/function.html) (or a group (http://www.businessdictionary.com/definition/group.html) of functions (http://www.businessdictionary.com/definition/function.html)) which is considered a specific entity (http://www.businessdictionary.com/definition/entity.html) for the purpose of estimating (http://www.businessdictionary.com/definition/estimating.html), controlling (http://www.businessdictionary.com/definition/controlling.html), and reporting costs (http://www.businessdictionary.com/definition/costs.html).

Yes. It helped