item emerging from a single production process that has a relatively low sales value in comparison with the firm's main or JOINT PRODUCTS. Examples of by-products are sawdust or wood chips in lumber mill operations. Because the relative value of by-products is not very important, it is usually considered undesirable to use a refined accounting method in dealing with by-product costs. Generally, the sales value of by-products is used to reduce the cost of the main products. An alternative accounting approach is to treat the sales value of the  by-products as "other revenue."