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Financial Terms | |
attribute-based costing (ABC II) |
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Definition of attribute-based costing (ABC II)attribute-based costing (ABC II)an extension of activitybased costing using cost-benefit analysis (based on increased customer utility) to choose the product attribute
Related Terms:ABCsee activity-based costing ABC inventory classificationA method for dividing inventory into classifications, ABC TestA test used to determine the status of an employee under a state unemployment Absorption costingA method of costing in which all fixed and variable production costs are charged to products or services using an allocation base. absorption costinga cost accumulation and reporting Absorption costingA methodology under which all manufacturing costs are assigned Activity-based budgetingA method of budgeting that develops budgets based on expected activities and cost drivers – see also activity-based costing. ![]() activity-based budgeting (ABB)planning approach applying activity drivers to estimate the levels and costs of activities necessary to provide the budgeted quantity and Activity-based costingA method of costing that uses cost pools to accumulate the cost of significant business activities and then assigns the costs from the cost pools to products or services based on cost drivers. activity based costing (ABC)A relatively new method advocated for the activity-based costing (ABC)a process using multiple cost drivers to predict and allocate costs to products and services; Activity-based costing (ABC)A cost allocation system that compiles costs and assigns activity-based management (ABM)a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received Asset-based financingMethods of financing in which lenders and equity investors look principally to the Asset-Based FinancingLoans granted usually by a financial institution where the asset being financed constitutes the sole security given to the lender. Attribute biasThe tendency of stocks preferred by the dividend discount model to share certain equity backflush costinga streamlined cost accounting method that speeds up, simplifies, and reduces accounting effort in an environment that minimizes inventory balances, requires direct costingsee variable costing Direct costingA costing methodology that only assigns direct labor and material costs Equity-based insuranceLife insurance or annuity product in which the cash value and benefit level fluctuate according to the performance of an equity portfolio. FIFO method (of process costing)the method of cost assignment that computes an average cost per equivalent First in, first-out costing method (FIFO)A process costing methodology that assigns the earliest full costingsee absorption costing GNMA-IIMortgage-backed securities (MBS) on which registered holders receive an aggregate principal and hybrid costing systema costing system combining characteristics Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (IIRIRA)A federal Act shielding employers from liability if they have made Job costingA method of accounting that accumulates the costs of a product/service that is produced either job order costing systema system of product costing used Kaizen costingThe process of continual cost reduction that occurs after a product life cycle costingthe accumulation of costs for activities that Lifecycle costingAn approach to costing that estimates and accumulates the costs of a product/service over manufacturing resource planning (MRP II)a fully integrated materials requirement planning system that involves Manufacturing resource planning (MRP II)An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of MM's proposition IIThe required rate of return on equity increases as the firm’s debt-equity ratio increases. modified FIFO method (of process costing)the method of cost assignment that uses FIFO to compute a cost per Modigliani and Miller Proposition IIA proposition by Modigliani and Miller which states that the cost of MRP IIsee manufacturing resource planning Priority-based budgetA budget that allocates funds in line with strategies. Process costingA method of costing for continuous manufacture in which costs for an accounting compared are compared with production for the same period to determine a cost per unit produced. Process costingA costing methodology that arrives at an individual product cost through the calculation of average costs for large quantities of identical products. process costing systema method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products; relevant costinga process that compares, to the extent possible strict FIFO method (of process costing)the method of cost assignment that uses FIFO to compute a cost per equivalent unit and, in transferring units from a department, keeps the Target costingA method of costing that is concerned with managing whole-of-life costs of a product/service during the product design phase – the difference between target price (to achieve market share) and the target profit margin. target costinga method of determining what the cost of a Value-based managementA variety of approaches that emphasize increasing shareholder value as the primary goal of every business. Variable costingA method of costing in which only variable production costs are treated as product costs and in which all fixed (production and non-production) costs are treated as period costs. variable costinga cost accumulation and reporting method weighted average method (of process costing)the method of cost assignment that computes an average cost per Zero-based budgetingA method of budgeting that ignores historical budgetary allocations and identifies the costs that are necessary to implement agreed strategies. Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |