What does activity-based costing mean?
Definitions for activity-based costing
ac·tiv·ity-based cost·ing
This dictionary definitions page includes all the possible meanings, example usage and translations of the word activity-based costing.
Wikipedia
Activity-based costing
Activity-based costing (ABC) is a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each. This model assigns more indirect costs (overhead) into direct costs compared to conventional costing. CIMA, the Chartered Institute of Management Accountants defines ABC as an approach to the costing and monitoring of activities which involves tracing resource consumption and costing final outputs. Resources are assigned to activities, and activities to cost objects based on consumption estimates. The latter utilize cost drivers to attach activity costs to outputs.The Institute of Cost & Management Accountants of Bangladesh (ICMAB) defines activity-based costing as an accounting method which identifies the activities which a firm performs and then assigns indirect costs to cost objects.
Numerology
Chaldean Numerology
The numerical value of activity-based costing in Chaldean Numerology is: 8
Pythagorean Numerology
The numerical value of activity-based costing in Pythagorean Numerology is: 2
Translations for activity-based costing
From our Multilingual Translation Dictionary
- गतिविधि आधारित लागतHindi
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"activity-based costing." Definitions.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.definitions.net/definition/activity-based+costing>.
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