Cost Reconciliation Definition
Abida Rehman Cost Reconciliation Definition: Cost reconciliation is the part of a production report that shows what costs a department has to account for during a period and how those costs are…
Adjusted R2 Definition
Sidra Farid Adjusted R2 Definition Adjusted r2 is a measure of goodness of fit in least-squares regression analysis. It is the percentage of the variation in the dependent variable that is explained…
Incremental Cost Definition
Shamsa Rafique Incremental Cost Definition: Incremental cost is defined as an increase in cost between two alternatives. Also see Differential cost.
Incremental Analysis Definition
Incremental Analysis Definition: Incremental analysis is an analytical approach that focuses only on those items of revenue, cost, and volume that will change as a result of a decision. Y…
Cost of Goods Sold (COGS) Definition
Cost of Goods Sold (COGS) Definition: Cost of goods sold, COGS, or "cost of sales", includes the direct costs attributable to the production of the goods sold by a company.…
Cost of Goods Manufactured Definition
Cost of Goods Manufactured Definition: Cost of goods manufactured is the manufacturing costs associated with the goods that were finished during the period.
Human Skills Definition
Sana Ahmed Human Skills Definition: Human skills involve the ability to work well with other people both individually and in group. Because managers deal directly with people, this skill is crucial! Managers…
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.
Cost of Capital Definition
Cost of Capital Definition: The overall cost to an organization of obtaining investment funds, including the cost of both debt sources and equity sources.
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.
Cost Object Definition
Cost Object Definition: A cost object is anything for which cost data are desired. Examples of possible cost objects are products, product lines, customers, jobs, and organizational subunits such as…
Horizontal/Trend Analysis Definition
Horizontal/Trend Analysis Definition: A side-by-side comparison of two or more years' financial statements. Click here to read full article about horizontal or trend analysis. Relevant terms: Vertical Analysis
Cost Driver Definition
Cost Driver Definition: Cost driver is a factor, such as machine-hours, beds occupied, computer time, or flight-hours, that causes overhead costs.
High-Low Point Method Definition
High-Low Point Method Definition: A method of separating a mixed cost into its fixed and variable elements by analyzing the change in cost between the high and low levels of…
Half-Year Convention Definition
Half-Year Convention Definition: A requirement under the Modified Accelerated Cost Recovery System (MACRS) that allows a company to take only a half year's depreciation in the first and last years…
Activity Base Definition
Activity Base Definition Activity base is a measure of whatever causes the incurrence of a variable cost. For example, the total cost of X-ray film in a hospital will increase…
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.