Historical Cost Mean? A measure of value used in accounting in which the price of an asset on the balance sheet is based on its nominal or original cost when it was acquired by the company. The historical-cost method is used for assets in the United States under generally accepted accounting principles (GAAP). Cost concepts and terms 1. Cost The amount of expenditure (actual or notional) incurred on or attributable to a specified article‚ product or activity is referred to as cost. 2
Premium Costs Variable cost
Cost of Living and Minimum Budget For A Family of Four by Silicon Valley Blogger on 2007-10-3052 This is part of our series on “scary money tips and stories”. In some high cost of living areas‚ it now takes at least almost $80‚000 to live. I’ve often expressed how life changes once you have a family to raise‚ beyond the time and effort it takes to care for kids and run the household. Financially‚ it can become somewhat more challenging as well: since the typical case is that your budget rises
Premium Education Family Higher education
out their projects. If financial intermediaries did not exist surplus agents would not be ready to hold highly illiquid assets to finance borrowers. * Cost reduction is done by financial intermediaries as they are able to reduce costs which are associated with the buying and selling of financial instruments. Due to lower transaction costs financial intermediaries offer lower loan rates relative to direct financing. * Provision of payments system in modern times‚ financial intermediaries facilitate
Premium Investment Economics Finance
Cost of Production Fixed costs are those that do not vary with output and typically include rents‚ insurance‚ depreciation‚ set-up costs‚ and normal profit. They are also called overheads. Variable costs are costs that do vary with output‚ and they are also called direct costs. Examples of typical variable costs include fuel‚ raw materials‚ and some labour costs. An example Production costs Consider the following hypothetical example of a boat building firm. The total fixed costs‚ TFC‚ include
Premium Costs Variable cost Economics of production
The Cost of Living The question I was frequently asked when I was younger was‚ “What are you going to be when you grow up?”. From elementary school to early middle school‚ I would’ve told you I wanted to be a pop start or a vet. As I realize that I can’t sing and there is too much schooling behind being a vet‚ I’ve decided to become something a little more practical‚ a video editor. With the growing technological industry‚ and the various awards I have received in this field‚ video editing seemed
Premium Debt
Sunk costs are costs that are irrecoverable. It’s something that you already spent and that you won’t get back‚ regardless of future outcomes. And remember that the greatest example of sunk cost you pay is with your own time‚ and which you will not be able to recover: all that you lived up until now is gone — you just can’t reclaim that time. Stop clinging to the past and make the most of your life right now. One of the most important lessons about economic costs is that sunk costs are sunk
Premium Time Costs Past
____ 1. A cost is not relevant if it: A. B. C. D. E. Does not differ for each option available to the decision maker. Changes from period to period. Is a future cost. Is a mixed cost. Is a fixed cost. 2. Variable costs will generally be relevant for decision making because they: A. B. C. D. E. Differ between options. Are volume-based. Have not been committed and differ between options. Differ between options and have been committed. Measure opportunity cost. 3. Fixed costs will often be
Premium Costs Variable cost Management accounting
circumstances where the two firms are identical with respect to size and costs of production. To understand this behaviour of the collusive duopolies‚ a mathematical tool called ‘Game Theory’ is used. The classic example for the duopoly analysis here is the ‘Prisoner ’s-dilemma game’ (shown in Appendix‚ 1.2). Within this game structure‚ a payoff matrix has been plotted‚ which shows the outcomes (each carrier’s profits) for all four combinations of collusion. By understanding the various ‘payoffs’ (referring
Premium Economics Marketing Game theory
Thesis: How do rising tuitions impact students‚ local employers‚ and educational institutions? I. Tuition Costs A. Enrollment Supply B. Enrollment Demand II. Economic Theory A. Impact on Students B. Impact on Educational Institutions C. Impact on Local Employers III. Higher Educational Costs A. Advantages (Pros) of Higher Tuition Costs B. Disadvantages (Cons) of Higher Tuition Costs IV. Conclusion/Recommendations This case analysis will be based on the question‚ “How do
Premium Management Strategic management Organization
implementation of IPSAS (international accounting standard) and the extension of ERP processes and services to all worlds’ offices. The creation of a more consistent administration structure of tools‚ processes and support is needed by managers to delegate responsibilities more effectively and support the decentralization of emergency operations. Another important benefit is a more efficient management of all 8‚000 non-staff human resource employees (NSHR). For the success of the project PRINCE2 (PRINCE2[1])
Premium Contract Transaction cost Cost