Material Abstract

Written by True Tamplin, BSc, CEPF®

Reviewed by Subject Matter Experts

Updated on March 01, 2023

Materials Abstract: Definition and Meaning

To determine the cost of materials used on a particular job or work order, the following aspects are usually recorded and analyzed:

The recording sheets specially meant for this purpose are known as materials abstracts or materials issue analysis sheets.

Specimen/Format of Materials Abstract

Materials Abstract Format

Materials abstracts are prepared periodically (e.g., weekly, fortnightly, or monthly).

Benefits of Materials Abstract

The most important benefits of materials abstract are:

  • Transactions can be passed in the stores ledger directly from the materials abstract
  • The materials cost of each job can be calculated easily

Material Abstract FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website or view his author profiles on Amazon, Nasdaq and Forbes.