Multiple features associated with each activity to be performed. These include predecessor activities, successor activities, and resource requirements.
In activity-based cost accounting a set of standard definitions of activities including descriptions, business process, function source, cost drivers, and other data important to activity-based planni ng....
in activity-based cost accounting a yardstick of demands placed on an activity by given cost objects. Its purpose is to assign activity costs to cost objects.
One of the seven newer tools of quality.A drawing including nodes that represent operations to be performed and arrows representing precedence relationships. This drawing represents all of the activit ies to be finished to complete a project.Also known as a critical path diagram or PeRT chart....
A financial ratio to determine how an organization's resources perform relative to the revenue the resources produce. Activity ratios include inventory turnover, receivables conversion period, fixed-a sset turnover, and return on assets....
In activity-based cost accounting, a budgeting process employing knowledge of activities and driver relationships to Predict workload and resource requirements in developing a business plan. Budgets s how the predicted consumption and cost of resources using forecasted workload as a basis. The company can use performance to budget in evaluating success in setting and pursuing strategic goals; this activity is part of the activity-based planning process....
A cost accounting system that accumulates costs based on activities performed and then uses cost drivers to allocate these costs to products or other bases such as customers, markets, or projects. It attempts to allocate overhead costs on a more realistic basis than by using direct labor or machine hours. Syn: activity-based costing, activity-based cost accounting. See: absorption costing....