Sana Archive
Electronic Data Processing System (EDP System) for Materials Received and Issued: The preceding description of invoice approval and payment was for a manual operation performed by an accounts payable clerk or an invoice clerk. In an electronic data processing system (EDP system), the computer–to
Factory Overhead Efficiency Variance: Learning Objective of the article: Define and explain factory overhead efficiency variance. How is FOH efficiency variance calculated? What are the reasons / causes of unfavorable overhead efficiency variance. Definition: Factory overhead efficiency variance is the difference between actual hours
Efficiency Definition: Getting the most output from the least amount of inputs; referred to as “doing things right,”.
Effectiveness Definition: Completing activities so that organizational goals are attained; “referred to as doing the right things.”
Price Elasticity of Demand-Economists’ Approach to Pricing: Learning Objective of the Article: Define and explain the term “Price elasticity of demand”. Calculate profit maximizing price of a product of service using the price elasticity of demand and variable cost. If a company raises the
Economic value added (EVA) Definition: Economic value added is a concept similar to residual income.
Economic Order Quantity (EOQ): Learning Objective: Definite and explain economic order quantity (EOQ). How is economic order quantity (EOQ) calculated? Definition of EOQ economic order quantity Formula (EOQ formula) Example: Definition and Explanation: Economic order quantity (EOQ) is that size of the order which gives maximum
E-Commerce Definition: The sales and marketing components of the e-business is called e-Commerce.
Ease of Adjustment Codes Definition: Costs are coded as Green, Yellow, or Red – depending on how easily the cost could be adjusted to changes in activity. “Green” costs adjust automatically to changes in activity without any action by managers. “Yellow” costs could be
Earnings Per Share (EPS) Ratio: Definition: Earnings per share ratio (EPS Ratio) is a small variation of return on equity capital ratio and is calculated by dividing the net profit after taxes and preference dividend by the total number of equity shares. Formula of
E-Business (Electronic Business) Definition: A comprehensive term describing the way an organization does its work by using electronic (internet based) linkages with its key constituencies in order to efficiently and effectively achieve its goals.