Starting with the view of wealth taking advantage of the method of in put-output analysis,paying attention to both the labor value com prehended in discarded iron and thevaiue of raw natural resource in it,this paper presents a general model to accou nt the cost ofdiscarded iron,As an example of our country.the model of accounting the cost of the discarded ironhas been stueied carefully and the cost of discarded iron is calculated. the resuIt of calculationindicates the practieality of this model.