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5 Cards in this Set
- Front
- Back
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Absoroption-costing (full-costing) income
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Income computed by folowing a functional classification of costs, all manufacturing costs are fully assigned to the product. (Allocation-intensive functional-based-model)
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Activity
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basic unit of work performed to satisfy managerial objectives.
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Activity-based costing (ACM)
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costs are traced to activities, and activities traced and apportioned to products. (tracing-intensive)
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Activity-based management (ABM)
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Management of activities instead of just the cost of those activities.
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Activity-based management accounting system
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higher in cost than functional-based accounting, used often where cost objects (products, customers, etc) are diverse. Tracks activities as resource drivers (and subsequently cost-drivers).
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