Total Factory Cost Definition
Sidra Farid Total Factory Cost Definition: Total factory cost is equal to total direct materials cost plus direct labor cost plus Factory overhead. Formula of prime cost can be written as: Prime…
Top Managers Definition
Top Managers Definition: Managers at or near the top level of the organization who are responsible for making organization-wide decisions and establishing the goal and plans that effect the entire…
Time Value of Money
Time Value of Money: Learning Objectives: Explain the concept of time value of money. Why time value of money concept is important in capital budgeting analysis? Explanation of of the…
Time Ticket Definition
Time Ticket Definition: Time ticket is a detailed source document that is used to record an employee's hour-by-hour activities during a day.
Time and Material Pricing in Service Companies
Time and Material Pricing in Service Companies: Learning Objective of the Article: Define and explain time and material pricing. Calculate and use billing rates used in time and materials pricing.…
Time-Adjusted Rate of Return Definition
Time-Adjusted Rate of Return Definition: This term is synonymous with internal rate of return.
Throughput Time Definition
Throughput Time Definition: The time required to make a completed unit of product starting with raw materials. Throughput time is also known as cycle time.
Theory of constraints (TOC) Definition
Theory of constraints (TOC) Definition: Theory of constraints (TOC) management approach that emphasizes the importance of managing constraints. This is only definition of theory of constraints (TOC). Click here to…
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Liability Disclaimer – Terms of Use
Liability Disclaimer - Terms of Use: The information, services and products available to you on this Web site may contain errors and is subject to periods of interruption. While Accountingformanagement.com…
Technical Skills Definition
Technical Skills Definition: Technical skills include knowledge of and proficiency in certain specialized field, such as engineering, computers, accounting, or manufacturing. These skills are more important at lower level management…
Theory of Constraints (TOC)
Theory of Constraints (TOC): Learning objectives of the article: Define and explain the concept of theory of constraints (TOC) Give an example of the implementation of theory of constraints. Definition:…
Targeting Process Improvements
Targeting Process Improvements Activity Based Costing + Activity Based Management Activity based costing can be used to identify areas that would benefit from process improvements. Indeed, managers often cite this…
Target Profit Analysis
Definition and Explanation of Target Profit: Target profit is the amount of net operating income or profit that management desires to achieve at the end of a business period. Management…
Target Costing Approach to Pricing
Learning Objective of the Article: Define and explain target costing. Compute the target cost for a new product or service. What are advantages and disadvantages of target costing approach. In…
Quantitative or Physical Unit Method–Allocating Joint Product Cost
Quantitative or Physical Unit Method--Allocating Joint Product Cost: Learning Objectives: Explain quantitative or physical unit method of joint cost allocation. Quantitative or physical unit method attempts to distribute the…
Quantitative Approach Definition
Quantitative Approach Definition: The quantitative approach involves the use of quantitative techniques to improve decision making. This approach is also called operations research or management science.
Quality of Conformance Definition
Quality of Conformance Definition: The degree to which a product or service meets or exceeds its design specifications and is free of defects or other problems that mar its appearance…