Ideal Standards Definition
Shamsa Rafique Ideal Standards Definition: Standards that allow for no machine breakdowns or other work interruptions and that require peak efficiency at all times.
Ideal Standards Definition
Ideal Standards Definition: Standards that allow for no machine breakdowns or other work interruptions and that require peak efficiency at all times.
By Products and Joint Products
By Products and Joint Products: After studying this chapter you should be able to: Many industrial concerns are confronted with the difficult and often rather complicated problem of assigning costs…
By-Products and Main Products
By-Products and Main Products: Learning Objectives: Define and explain By-Products. Definition and Explanation of By Products: The term "by product" is generally used to denote one or more products of…
Business Process Definition
Business Process Definition: Business process is a series of steps that are followed in order to carry out some task in a business.
Bureaucracy (in Management) Definition
Bureaucracy (in Management) Definition: A form of organization characterized by division of labor, a clearly defined hierarchy, detailed rules and regulations, and impersonal relationships.
Budgeting and Planning
After studying Budgeting and Planning article you should be able to: Understand why organizations budget and the processes they use to create budgets. Prepare a sales budget, including a schedule…
Budgeted Income Statement
Budgeted Income Statement: Definition and Explanation: A budgeted income statement can be prepared from the data developed in: Sales budget Ending finished goods inventory budget Selling and administrative expense budget…
Budgeted Balance Sheet
Budgeted Balance Sheet: Definition and Explanation: The budgeted balance sheet is developed by beginning with the current balance sheet and adjusting it for the data contained in other budgets. Example…
Budget Variance Definition
Budget Variance Definition: A measure of the difference between the actual fixed overhead costs incurred during the period and budgeted fixed overhead costs as contained in the flexible budget.
Budget Definition
Budget Definition: Budget is a detailed plan for the future, usually expressed in formal quantitative terms.
Budget Committee Definition
Budget Committee Definition: A group of key management persons who are responsible for overall policy matters relating to the budget program and for coordinating the preparation of the budget.
Budget Committee
Budget Committee: Learning Objective of the Article: What is a budget committee? What are the functions and responsibilities of a budget committee? Definition: Budget committee is a group of key…
Break Even Point Definition
Break Even Point Definition: Break even point is defined as the level of sales at which profit is zero. The break-even point can also be defined as the point where…
Break Even Point Analysis-Definition, Explanation Formula and Calculation
Break Even Point Analysis-Definition, Explanation Formula and Calculation: Learning Objectives: Define and explain break even point. How is it calculated? What are its advantages, assumptions, and limitations? Definition of Break…
Break Even Point Formula Analysis and Calculation
Break Even Formula ,analysis, definition and Calculation: Learning Objectives: Define and explain break even point equation. How break even point is calculated by formula or methods of estimating break even point?…
Branches of Accounting
Branches of Accounting: Learning Objectives: What are the branches of accounting? Accounting has three main forms of branches, viz, financial accounting, cost accounting, and management accounting. These forms of accounting…
Bottleneck Definition
Bottleneck Definition: A machine or process that limits total output because it is operating at capacity.