Define Common Cost
Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.
Cost Accounting Practice: Any disclosed or recognized accounting process or technique that is used for the measurement of cost, assignment of cost to cost objects and assignment of cost to accounting periods.
An account in financial reporting that increases the book value of a liability account. An adjunct account is a valuable account from which cred
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.
What are the main reasons that the operation of business environment has become ever more turbulent and competitive?
What find out the size of this loss? The size of the deadweight loss is based on the elasticity of supply and demand. As the elasticity of demand increases and the elasticity of supply decreases, that means as sup
Process Value Analysis: Tools and methods for studying processes via customer value analysis. Its objective is to recognize opportunities for lasting enhancement in the performance of an association. It offers an in-depth review of wo
Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as: (i) Its manager reports to the entity's top management;
Common Data Source: All of the programmatic and financial information available for the cost, budgetary, and financial accounting processes. This comprises all financial and much non-financial data, like environmental data, which are
Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.
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.
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