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.
Production Budget Definition
Rubab Ali 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.…
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.
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…
Organization Definition
Organization Definition: An organization is a deliberate arrangement of people to accomplish some specific purpose. Each organization has three characteristics; first, each organization has a distinct purpose. This purpose is…
Organizational Chart Definition
Organizational Chart Definition: Organizational Chart is a visual diagram of a firm's organizational structure that depicts formal lines of reporting, communication, and responsibility between managers.
Organizational Chart Definition
Organizational Chart Definition: Organizational Chart is a visual diagram of a firm's organizational structure that depicts formal lines of reporting, communication, and responsibility between managers.
Optional Straight Line Method Definition
Optional Straight Line Method Definition: A method of computing depreciation deductions under MACRS that can be used instead of the MACRS tables.
Operations Management Definition
Operations Management Definition: The design, operation, and control of the transformation process that converts resources (labor and raw materials etc.) into finished goods or services.
Operating Leverage Definition
Operating Leverage Definition: Operating leverage is a measure of how sensitive net income is to a given percentage change in sales. It is computed by dividing the contribution margin by…
Operating Department Definition
Operating Department Definition: Operating department is a department or similar unit in an organization within which the central purposes of the organization are carried out.
Merchandise Purchases Budget Definition
Shamsa Rafique Merchandise Purchases Budget Definition: Merchandise purchase budget is a budget used by a merchandising company that shows the amount of goods that must be purchased from suppliers during the period.…
Materials and Inventory Cost Control
Materials and Inventory Cost Control: After studying this chapter you should be able to: Materials control is the system that ensures the provision of the required quantity and quality at…
Direct Method of Cost Allocation-Service Department Costing
Abida Rehman Direct Method of Cost Allocation-Service Department Costing: Definition: Direct method is a cost allocation method under which any of the allocation base attributable to the service departments themselves is ignored;…
Operating Assets Definition
Operating Assets Definition: Operating assets are cash, accounts receivable, inventory, plant and equipment, and all other assets held for productive use in an organization.