Over-applied Overhead Definition
Sana Ahmed Over-applied Overhead Definition: Over-applied overhead is a credit balance in the Manufacturing Overhead account that arises when the amount of overhead cost applied to Work in Process is greater than…
Perpetual Inventory System Definition
Rubab Ali Perpetual Inventory System Definition: Perpetual inventory system may be defined as a method of recording stores balances after every receipt and issue to facilitate regular checking and to obviate closing…
Periodic Inventory System Definition
Periodic Inventory System Definition: Periodic inventory system is that does not require a day-to-day record of inventory changes. Costs of materials used and costs of goods sold cannot be calculated…
Performance Report Definition
Performance Report Definition: Performance report is the detailed report comparing budgeted data to actual data.
Out-of-Pocket Costs Definition
Out-of-Pocket Costs Definition: Out of Pocket Cost is actual cash outlays for salaries, advertising, repairs, and similar costs.
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.…
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.
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.
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.