Cost Management Glossary

Subject	Date Published	Contributer	Language	Total Questions	File Name
Management	14th February 2009	Shandy	USA	355	wbe44.zip

ABC full costing	Assigns as many costs to products as possible
ABC unit costing	Assigns only the costs of unit-level resources to products
abnormal spoilage	Is due to reasons other than the usual course of operations of a process
absolute performance evaluation	Compares individual performance to set standards or expectations
absorption or full costing	Applies all manufacturing-overhead costs to (or absorbs) manufactured goods
account analysis	Estimates costs by measuring fixed and variable costs for each activity account
accuracy	Is precision in measurement
activity	Is any discrete task that an organization undertakes to make or deliver a good or service
activity dictionary	Lists activities performed by an organization to produce its products
activity-based budgeting (ABB)	Is the process of developing a master budget using information obtained from an activity-based (ABC) analysis
activity-based costing (ABC)	Is a costing method that first assigns costs to activities and then to goods and services based on how much each good or service uses the activities
activity-based flexible budget	Is based on several cost drivers rather than a single, volume-based cost driver
activity-based management (ABM)	Is used by management to evaluate the costs and values of process activities to identify opportunities for improved efficiency
actual costing	Assigns only actual costs of both direct and indirect resources (i.e., direct materials, direct labor, and manufacturing overhead) to products
actual overhead	Is the amount of manufacturing overhead actually incurred during an accounting period