--%>

Explain Value-Added Activity

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 the quantity, responsiveness, or quality of output needed by a customer or organization. The value-added activities must physically change the product or service in a mode that meets the customer expectations.

   Related Questions in Managerial Accounting

  • Q : Things which Strengths comprises Write

    Write a brief note on the things which Strengths comprises?

  • Q : Cash flows from operating activities

    The first section of the statement of cash-flow. Cash flows from operating activities include transactions (involving cash) that relate to the normal busi- ness activities of the entity. Cash-flows in this section usually involve cash and other current asset or curren

  • Q : Blackout period A defined time period

    A defined time period in accounting for stock options. In the mean while the blackout period person granted the option is not allowed to exercise it. This usually occurs after the granting of the stock options and allows the price of the stock to increase above the exercise price.  <

  • Q : Define Responsibility Center

    Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa

  • Q : Main working areas of the Marketing

    Write a short note on the main working areas of the Marketing department?

  • Q : What is Job Order Costing Job Order

    Job Order Costing: A technique of cost accounting which accrued costs for individual jobs or lots. A job might be a service or manufactured item, like the repair of tools or the treatment of a patient in the hospital.

  • Q : Working areas of the Finance department

    Write a short note on the main working areas of the Finance department?

  • Q : Define Variance Variance : The rate,

    Variance: The rate, amount, extent, or degree of change, or the divergence from a preferred state or characteristic.

  • Q : What is Service What do you mean by

    What do you mean by Service: It is an intangible product or task rendered directly to a client or customer.

  • Q : Major tasks of board that runs the

    Write down a short note on the major tasks of board that runs the organization?