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A relevant cost (also called avoidable cost or differential cost) [1] is a cost that differs between alternatives being considered. [2]
Marginal costs: The marginal cost is the change in the total cost caused by increasing or decreasing output by one unit. Differential costs: This cost is the difference in total cost resulting from selecting one alternative over another. Opportunity costs: The value of a benefit sacrificed in favour of an alternative course of action.
One simple definition of management accounting is the provision of financial and non-financial decision-making information to managers. [2] In other words, management accounting helps the directors inside an organization to make decisions.
Differential tuition – in which the cost of tuition and fees varies depending on your major – is a growing trend in colleges. Here’s what you need to know about the differential tuition ...
These approaches mean fixed costs are spread over a larger number of units of the product or service, resulting in a lower unit cost, i.e. the firm hopes to take advantage of economies of scale and experience curve effects. For industrial firms, mass production becomes both a strategy and an end in itself.
Cost Accounting Standards (popularly known as CAS) are a set of 19 standards and rules promulgated by the United States Government for use in determining costs on negotiated procurements. CAS differs from the Federal Acquisition Regulation (FAR) in that FAR applies to substantially all contractors, whereas CAS applied primarily to the larger ones.
Differential tuition or tiered tuition [1] is an amount charged on top of base tuition to support additional services and programming for students at a particular academic institution. [2] Researchers found 60 percent of public research universities were charging students different prices based primarily on their major and their year in college ...
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