We review the construction of time-dependent backgrounds with space-like singularities. We mainly consider exact CFT backgrounds. The algebraic and geometric aspects of these backgrounds are discussed. Physical issues, results and difficulties associated with such systems are reviewed. Finally, we present some new results: a two dimensional cosmology in the presence of an Abelian gauge field described within a family of SL(2)×U(1)/U(1)×Z quotient CFTs.