Multiple Regression Definition
Shamsa Rafique Multiple Regression Definition: An analytical method required in those situations where variations in a dependent variable are caused by more than one factor.
Performance Report Definition
Rubab Ali Performance Report Definition: Performance report is the detailed report comparing budgeted data to actual data.
Out-of-Pocket Costs Definition
Sana Ahmed Out-of-Pocket Costs Definition: Out of Pocket Cost is actual cash outlays for salaries, advertising, repairs, and similar costs.
Quantitative Approach Definition
Sidra Farid 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.
Raw Materials Definition
Abida Rehman Raw Materials Definition: Materials that are used to make a product. A finished product of a firm can be a raw material for another firm. For example plastic is a…
Production Budget Definition
Production Budget Definition: Production budget is a detailed plan showing the number of units that must be produced during a period in order to meet both sales and inventory needs.…
Modified Accelerated Cost Recovery System (MACRS) Definition
Modified Accelerated Cost Recovery System (MACRS) Definition: A method of depreciation required for income tax purposes that depends on which of nine property classes an asset belongs.
Payback Period Definition
Payback Period Definition: Payback period is the length of time that it takes for a project to recover its initial cost out of the cash receipts that it generates.
Range of Acceptable Transfer Price Definition
Range of Acceptable Transfer Price Definition: The range of transfer price within which the profits of both the selling division and the buying division would increase as a result of…
Mixed Cost Definition
Mixed Cost Definition: Mixed cost is the cost that contains both variable and fixed cost elements. Relevant Terms: Fixed cost Variable cost
Quality Costs Definition
Quality Costs Definition: Costs that are incurred to prevent defective products from falling into the hands of customers or that are incurred as a result of defective units. There are…
Quality Circles Definition
Quality Circles Definition Small groups of employees that meet on a regular basis to discuss ways of improving quality.
Quality Cost Report Definition
Quality Cost Report Definition: A report that details appraisal cost, prevention cost, internal failure cost, and external failure cost. Click here to read a detailed article about quality cost report.
Participative Budget Definition
Participative Budget Definition: A method of preparing budgets in which managers prepare their own budgets. These budgets are then reviewed by the manager's supervisor, and any issues are resolved by…
Organizational Culture Definition
Organizational Culture Definition: Organizational culture system of shared meaning and beliefs held by organizational members that determines, in large degree, how employees act.
Organizational Behavior Definition
Organizational Behavior Definition: Organizational behavior is the field of study concerned with the actions (behavior) of people at work.
Organization Sustaining Activities Definition
Organization Sustaining Activities Definition: Organizational sustaining activities are those activities that are carried out regardless of which customers are served, which products are produced, how many batches are run, or…
Division of Labor Definition
Division of Labor Definition: The breakdown of jobs into narrow and repetitive tasks is called division of labor. In 1776, Adam Smith published his book The Wealth of Nation, in…