Key performance indicators or KPI
What do you mean by the term key performance indicators or KPI? Explain in brief?
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Key performance indicators or KPIs: These comprise the traditional financial measures like return on capital used. KPIs now, though, usually comprise a significant proportion of non-financial indicators to aid assess the prospects of long-term success. To assist decision making, the management accountant has rousingly shouldered responsibility for reporting the non-financial measures concerning quality, product innovation, product cycle times, delivery times and so forth.
Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o
Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of
Partnership: Whenever two or more persons enter into an agreement to take on business and share its gain and losses, it is a condition of partnership. It can also define as: "Partnership is the relation among persons and who have granted to share the
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.
What do you mean by the term Reliability which is accounting information?
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.
Differential Cost: The cost difference predicted when one course of action is adopted rather than others.
A type of personal tax credit that reduces the amount a taxpayer must pay. The child tax credit is $1,000 (in 2008) for each child meeting the criteria the child must be a U.S. National, citizen, or resident under 17, a dependent of the taxpayer, and a grandchil
Cost Accounting: The Cost accounting is an approach to evaluate the overall costs which are related with conducting business. It is generally based on standard accounting practices, cost accounting is one of the tools which managers u
Write a short note on the relationship between risk and return?
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