What is "khozraschyot"

Khozraschyot or Khozraschet (, Khozraschot/Khozyaystvennyy raschot, literally "economic accounting") was an attempt to simulate the capitalist concepts of profit and profit center into the planned economy of the Soviet Union.

The term has often been translated as cost accounting, which does not cover significant peculiarities of the Soviet economy. It has also been conflated with other notions of self-financing (; samofinansirovanie), self-reevaluation (; samo-okupaemost'), and self-management (; samoupravlenie) introduced in the 1980s.

As defined in the Soviet Encyclopedic Dictionary:

"khozraschyot is a method of the planned running of an economic unit (i.e., of a business, in Western terms) based on the confrontation of the expenses incurred in production with the production output, on the compensation of expenses with the income".

Khozraschyot introduced the necessity in accountability and profitability as well as the motivation in thrifty expenditures.