Define Opportunity Cost
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.
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
Support Costs: Costs of activities are not directly related with the production. Typical illustrations are the costs of automation support, postage, communications, process engineering, and purchasing.
Actual Cost: It is the amount (sum) determined on the basis of cost acquired involving standard cost appropriately adjusted for the applicable variance.
What do you mean by the term provision of management accounting information?
Employee Stock Ownership: It is a qualified, defined contribution, employee benefit (that is, ERISA) plan designed to invest mainly in the stock of sponsoring employer. ESOPs are "qualified" in the logic that the ESOP's sponsoring company, the selling
Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr
Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat
A company's annual report is the single most important way for it to convey itself to potential investors. As such, it should be no surprise tha
What do you mean by the term SWOT analysis? Explain in brief?
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