51 relations: Accounting, Advertising, Average cost, Bookkeeping, Business, Business administration, Business plan, Business process, Business process modeling, Cost accounting, Cost basis, Cost curve, Cost overrun, Cost-plus pricing, Cost–benefit analysis, Decision-making, Direct labor cost, Direct materials cost, Economic cost, Economics, Employment, Environmental degradation, Expense, Externality, Fixed cost, Genuine progress indicator, Invoice, Kaldor–Hicks efficiency, Manufacturing, Manufacturing cost, Marginal cost, MOH cost, Opportunity cost, Outline of industrial organization, Overhead (business), Paradigm, Performance metric, Price, Product (business), Production (economics), Production function, Raw material, Repugnancy costs, Research, Retail, Routing, Semi-variable cost, Social cost, Total cost, Variable cost, ..., Whole-life cost. Expand index (1 more) » « Shrink index
Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations.
Advertising is an audio or visual form of marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea.
In economics, average cost and/or unit cost is equal to total cost divided by the number of goods produced (the output quantity, Q).
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.
Business is the activity of making one's living or making money by producing or buying and selling products (goods and services).
Business administration is management of a business.
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them.
A business process or business method is a collection of related, structured activities or tasks that in a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers.
Business process modeling (BPM) in business process management and systems engineering is the activity of representing processes of an enterprise, so that the current process may be analysed, improved, and automated.
Cost accounting is the process of recording, classifying, analyzing, summarizing, and allocating costs associated with a process, and then developing various courses of action to control the costs.
Basis (or cost basis), as used in United States tax law, is the original cost of property, adjusted for factors such as depreciation.
In economics, a cost curve is a graph of the costs of production as a function of total quantity produced.
A cost overrun, also known as a cost increase, underrated or budget overrun, involves unexpected costs incurred in excess of budgeted amounts due to an underestimation of the actual cost during budgeting.
Cost-plus pricing is a pricing strategy in which the selling price is determined by adding a specific dollar amount markup to a product's unit cost.
Cost–benefit analysis (CBA), sometimes called benefit costs analysis (BCA), is a systematic approach to estimate the strengths and weaknesses of alternatives (for example in transactions, activities, functional business requirements or projects investments); it is used to determine options that provide the best approach to achieve benefits while preserving savings.
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.
Direct labor cost is a part of wage-bill or payroll that can be specifically and consistently assigned to or associated with the manufacture of a product, a particular work order, or provision of a service.
Direct materials cost the cost of direct materials which can be easily identified with the unit of production.
Economic cost is the combination of gains and losses of any goods that have a value attached to them by any one individual.
Economics is the social science that studies the production, distribution, and consumption of goods and services.
Employment is a relationship between two parties, usually based on a contract where work is paid for, where one party, which may be a corporation, for profit, not-for-profit organization, co-operative or other entity is the employer and the other is the employee.
Environmental degradation is the deterioration of the environment through depletion of resources such as air, water and soil; the destruction of ecosystems; habitat destruction; the extinction of wildlife; and pollution.
In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs.
In economics, an externality is the cost or benefit that affects a party who did not choose to incur that cost or benefit.
In economics, fixed costs, indirect costs or overheads are business expenses that are not dependent on the level of goods or services produced by the business.
Genuine progress indicator (GPI) is a metric that has been suggested to replace, or supplement, gross domestic product (GDP).
An invoice, bill or tab is a commercial document issued by a seller to a buyer, relating to a sale transaction and indicating the products, quantities, and agreed prices for products or services the seller had provided the buyer.
A Kaldor–Hicks improvement, named for Nicholas Kaldor and John Hicks, is an economic re-allocation of resources among people that captures some of the intuitive appeal of a Pareto improvement, but has less stringent criteria and is hence applicable to more circumstances.
Manufacturing is the production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation.
Manufacturing cost is the sum of costs of all resources consumed in the process of making a product.
In economics, marginal cost is the change in the opportunity cost that arises when the quantity produced is incremented by one unit, that is, it is the cost of producing one more unit of a good.
Manufacturing overhead costs (MOH cost) are all manufacturing costs that are related to the cost object (work in process and then finished goods) but cannot be traced to that cost object in an economically feasible way.
In microeconomic theory, the opportunity cost, also known as alternative cost, is the value (not a benefit) of the choice in terms of the best alternative while making a decision.
The following outline is provided as an overview of and topical guide to industrial organization: Industrial organization – describes the behavior of firms in the marketplace with regard to production, pricing, employment and other decisions.
In business, overhead or overhead expense refers to an ongoing expense of operating a business.
In science and philosophy, a paradigm is a distinct set of concepts or thought patterns, including theories, research methods, postulates, and standards for what constitutes legitimate contributions to a field.
A performance metric measures an organization's behavior, activities, and performance.
In ordinary usage, a price is the quantity of payment or compensation given by one party to another in return for one unit of goods or services.
In marketing, a product is anything that can be offered to a market that might satisfy a want or need.
Production is a process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (the output).
In economics, a production function relates quantities of physical output of a production process to quantities of physical inputs or production function refers as the expression of the technological relation between physical inputs and outputs of the goods.
A raw material, also known as a feedstock or most correctly unprocessed material, is a basic material that is used to produce goods, finished products, energy, or intermediate materials which are feedstock for future finished products.
Repugnancy costs are costs borne by an individual or entity as a result of a stimulus that goes against that individual or entity's cultural mores.
Research comprises "creative and systematic work undertaken to increase the stock of knowledge, including knowledge of humans, culture and society, and the use of this stock of knowledge to devise new applications." It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories.
Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.
Routing is the process of selecting a path for traffic in a network, or between or across multiple networks.
The term Semi-variable cost (also referred to as semi-fixed cost) is often used to project financial performance at various scales of production, where it is an expense which contains both a fixed-cost component and a variable-cost component.
Social cost in economics is the sum of the private costs resulting from a transaction and the costs imposed on the consumers as a consequence of being exposed to the md's transaction for which they are not compensated or charged.
In economics and cost accounting, total cost (TC) describes the total economic cost of production and is made up of variable costs, which vary according to the quantity of a good produced and include inputs such as labor and raw materials, plus fixed costs, which are independent of the quantity of a good produced and include inputs (capital) that cannot be varied in the short term, such as buildings and machinery.
Variable costs are costs that change in proportion to the good or service that a business produces.
Whole-life cost, or Life-cycle cost (LCC), refers to the total cost of ownership over the life of an asset.
AFE Approval for Expenditure, Approval for Expenditure, Approval for expenditure, Assessment of cost, Associated cost, Authorization for Expenditure, Authorization for expenditure, Cost (biology), Cost estimates, Costs, Expend, Expendability, Expenditures, Expensive, Expensiveness, Financial cost, Metabolic cost, Metabolic price, Outlay, Private cost, Product costing, Time-consuming.