|hybrid costing system
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Definition of hybrid costing system
hybrid costing system
a costing system combining characteristics
Schedule of depreciation rates allowed for tax purposes.
A computerized clearing system for sterling funds
An international wire transfer system for high-value
Highlights the fact that return on assets (ROA) can be expressed in terms
An exchange arrangement formed in 1979 that involves the currencies
The central bank of the U.S., established in 1913, and governed by the Federal
A package containing two or more different kinds of risk management instruments that are usually
A convertible security whose optioned common stock is trading in a middle range, causing
Arrangement by which investors who receive a dividend also receive a tax credit for
systems that schedule materials/inventory to arrive exactly as they are
A technical trading strategy that combines mechanical rules, such as the CRISMA
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
A tax system wherein the average tax rate increases for some increases in income but
A tax system that taxes retained earnings at a higher rate than earnings that are
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
Also called the diversifiable risk or residual risk. The risk that is unique to a company
MACRS (Modified Accelerated Cost Recovery System)
A depreciation method created by the IRS under the Tax Reform Act of 1986. Companies must use it to depreciate all plant and equipment assets installed after December 31, 1986 (for tax purposes).
A method of costing in which all fixed and variable production costs are charged to products or services using an allocation base.
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
A 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.
A method of accounting that accumulates the costs of a product/service that is produced either
An approach to costing that estimates and accumulates the costs of a product/service over
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
A 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.
A method of costing that is concerned with managing whole-of-life costs of a product/service during the product design phase â€“ the difference between target price (to achieve market share) and the target profit margin.
A 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.
Periodic inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold only at the end of the period.
Perpetual inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold each time a sale is made.
activity based costing (ABC)
A relatively new method advocated for the
The amount of total risk that cannot be eliminated by portfolio
The amount of total risk that can be eliminated by diversification by
a cost accumulation and reporting
activity-based costing (ABC)
a process using multiple cost drivers to predict and allocate costs to products and services;
actual cost system
a valuation method that uses actual direct
attribute-based costing (ABC II)
an extension of activitybased costing using cost-benefit analysis (based on increased customer utility) to choose the product attribute
a streamlined cost accounting method that speeds up, simplifies, and reduces accounting effort in an environment that minimizes inventory balances, requires
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
a system using transfer prices; see transfer
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
see variable costing
enterprise resource planning (ERP) system
a packaged software program that allows a company to
FIFO method (of process costing)
the method of cost assignment that computes an average cost per equivalent
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
see absorption costing
job order costing system
a system of product costing used
just-in-time manufacturing system
a production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to
life cycle costing
the accumulation of costs for activities that
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
modified FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per
normal cost system
a valuation method that uses actual
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
a production system dictated by product sales
the traditional production system in which
an inventory ordering system in which a red
a process that compares, to the extent possible
responsibility accounting system
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
standard cost system
a valuation method that uses predetermined
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
a method of determining what the cost of a
an inventory ordering system in which two
a cost accumulation and reporting method
weighted average method (of process costing)
the method of cost assignment that computes an average cost per
A methodology under which all manufacturing costs are assigned
Activity-based costing (ABC)
A cost allocation system that compiles costs and assigns
A costing methodology that only assigns direct labor and material costs
First in, first-out costing method (FIFO)
A process costing methodology that assigns the earliest
The process of continual cost reduction that occurs after a product
A costing methodology that arrives at an individual product cost through the calculation of average costs for large quantities of identical products.
Du Pont system
A breakdown of ROE and ROA into component ratios.
system whereby customers send payments to a post office box and a local bank collects and processes checks.
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
See market mechanism.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Automated storage/retrieval system
A racking system using automated systems
Enterprise resource planning system
A computer system used to manage all company
A materials flow concept in which parts are only withdrawn after a
A materials flow concept in which parts are issued based on planned
A system in which parts are reordered when their supply in one
Visual review system
Inventory reordering based on a visual inspection of on-hand
system whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
Canada's bank machine and electronic debit system. If you use your bank card at a bank machine which displays the Interac symbol (and that bank machine is not your bank's machine), you will be charged a fee.
A bank machine network outside Canada, across the U.S. and internationally. Customers who use a bank machine with a 'PLUS' symbol may be charged a fee.
systematic withdrawal plan
Plans offered by mutual fund companies that allow unitholders to receive payment from their investment at regular intervals.
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