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Assignment # 6 (Chapter 5 definition)

Assignment # 6 (Chapter 5 definition) - Naiya Amin ACCT...

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Naiya Amin ACCT 3240*01WC Assignment # 6 Chapter 5 definition October 26 th 2010 1. Activity: an activity is an event, task, or unit of work with a specified purpose. More informally, activities are verbs; they are things that a firm does 2. Activity based costing systems : activity based costing system refines a costing system by identifying individual activities as the fundamental cost objects. 3. Activity based management : activity based management is a method of management decision – making that uses activity based costing information to improve customer satisfaction and profitability. We define ABM broadly to include decisions about pricing and product mix, how to reduce cost, how to improve processes, and decisions relating to product design 4. Batch-level costs : batch level costs are the costs of activities related to a group of units of products or services rather than to each individual unit of product or service.
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