Relevant cost – meaning. Relevant cost are future cash flows arising as a direct consequence of decision. Relevant cost must be: the cost that will occur in the future cost that will result in the cash flow arise as direct consequence of the decision read more Related posts: Cost concept in accounting – meaning and explanation. 7 limitations of standard costing. What is direct labor cost variances? What is meant by variance? Environmental cost – meaning Differences between standard cost and target cost. Related posts brought to you by YARPP.