CHAPTER 2 An Introduction to Cost Terms and Purposes Basic Cost Terminology Cost ± sacrificed resource to achieve a specific objective Actual Cost ± a cost that has occurred…

1. An Introduction to Cost Terms and Purposes © 2009 Pearson Prentice Hall. All rights reserved. 2. Basic Cost Terminology Cost – sacrificed resource to achieve a specific…

Slide 1An Introduction to Cost Terms,cost classification and Purposes © 2009 Pearson Prentice Hall. All rights reserved. Slide 2 What is cost? All businesses have costs.…

Slide 1 Chapter 2 Slide 2 Basic Cost Terminology Cost – resource sacrificed to achieve a specific objective Actual cost – a cost that has occurred Budgeted cost – a…

Slide 1 Cost Terminology and Concepts Slide 2 Basic Cost Terminology Cost – resource sacrificed to achieve a specific objective Actual cost – a cost that has occurred…

Slide 1 An Introduction to Cost Terms and Purposes © 2009 Pearson Prentice Hall. All rights reserved. Slide 2 Basic Cost Terminology Cost – sacrificed resource to achieve…

An Introduction to Cost Terms and Purposes © 2009 Pearson Prentice Hall. All rights reserved. © 2009 Pearson Prentice Hall. All rights reserved. Basic Cost Terminology…