Define Cost
Cost: The monetary value of resources employed or liabilities or sacrificed incurred to attain an objective, such as to obtain or make a good or to execute an activity or service.
The process of testing a new software program using actual data and comparing the results to the alternative soft wares. The alternative can be new software or the organization's existing system. The test should be examined the software's accuracy and efficiency.
Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.
The increase in value that the owner of a capital asset receives when the asset is sold. The owner pays tax on that gain or increases, at a lower rate if the assets that are sold are capital asset, such as factory buildings, rather than assets that are sold in the nor
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing
Write down a short note on the influence of manager’s behavior in management accounting information?
Full-Absorption Costing: It is a technique of costing that assigns (or absorbs) all labor, material, and service or manufacturing facilities and support costs to products or another cost objects. The costs assigned comprise those which do and do not d
What do you mean by the term position analysis in a business? Briefly illustrate it.
Write down the scope of Management accounting?
What do you mean by the term reaping the benefits of IT? Explain n brief?
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