Replacement Cost Method Definition
Abida Rehman Replacement Cost Method Definition: Replacement cost is the cost at which, on the date of issue of the material, there could be purchased another lot of material identical to that…
Split-Off Point Definition
Shamsa Rafique Split-Off Point Definition: That point in the manufacturing process where some or all of the joint products can be recognized as individual products.
Specific Environment Definition
Specific Environment Definition: The part of the environment that is directly relevant to the achievement of an organization's goals.
Relevant Cost Definition
Relevant Cost Definition: A cost that differs between alternatives in a particular decision. In managerial accounting, this term is synonymous with avoidable cost and differential cost.
Relevant Range Definition
Relevant Range Definition: The range of activity within which assumptions about variable and fixed cost behavior are valid.
Specific Cost Method Definition
Specific Cost Method Definition: Under this method specific cost of materials issued is charged to production. When materials are purchased for a particular job, they should be charged to that…
Relaxing (Elevating) the Constraint Definition
Relaxing (Elevating) the Constraint Definition: An action that increases the capacity of a bottleneck. As a result constraint give some relaxation and productivity or provision of services to customers are…
Regression Line Definition
Regression Line Definition: A line fitted to an array of plotted points. The slope of the line, denoted by the letter b in the linear equation Y = a +…
Special Order Definition
Special Order Definition: A one-time order that is not considered part of the company's normal ongoing business.
Socialization Definition
Socialization Definition: The process that adapts employees to the organization's culture.
Value Chain Definition
Sana Ahmed Value Chain Definition: The major business functions that add value to a company's products and services. These functions consist of research and development, product design, manufacturing, marketing, distribution, and customer…
Reconciliation Method Definition
Reconciliation Method Definition: A method of computing the cash provided by operating activities that starts with net income and adjusts it to a cash basis. It is also known as…
Simple Rate of Return Definition
Simple Rate of Return Definition: The rate of return computed by dividing a project's annual accounting net income by the initial investment required.
Setup Definition
Setup Definition: Activities that must be performed whenever production is switched over from making one type of item to another.
Reciprocal Services Definition
Reciprocal Services Definition: Services provided between service departments. Also see Interdepartmental services.
Universality of Management Definition
Universality of Management Definition: Universality of management means the reality that management is needed in all types and sizes of organizations, at all organizational levels, in all organizational areas, and…
Reciprocal Method Definition
Reciprocal Method Definition: A method of allocating service department costs that gives full recognition to interdepartmental services.
Unit-Level Activities Definition
Unit-Level Activities Definition: Activities that arise as a result of the total volume of goods and services that are produced, and that are performed each time a unit is produced.