Cost Plus Accounting is a method of calculating the costs associated with producing a product or service. It takes into account all expenses incurred in manufacturing or providing the product or service, plus an agreed-upon markup that forms the basis of the pricing strategy. This method can be used in any business where there are measurable inputs and outputs, such as manufacturing, construction and services. The cost plus approach offers certainty and predictability for the client, enabling them to budget accurately and manage their expenses proactively. By understanding all the costs associated with a project, businesses can maximize their profits without negatively impacting the customer or the quality of their products or services.