0
Fiscal cost refers to the financial impact of government policies, programs, or actions on public finances. It encompasses direct expenditures, such as spending on public services, as well as indirect costs, including lost revenue from tax incentives or subsidies. Understanding fiscal costs is crucial for evaluating the sustainability of government budgets and the potential trade-offs involved in policy decisions. Ultimately, accurate assessment helps ensure accountability and effective resource allocation.
What else can I help you with?
How much does it cost to mantain the parks?
The National Park Service's budget for fiscal year 2008 was $1.97 billion.
Relevance of opportunity cost?
Opportunity cost is the economic, or real cost, of taking any action (as opposed to its accounting, or fiscal, cost). This cost is relevant as part of profit-optimising functions that determine allocations of spending and goods for economic agents.
What is fiscal consolidation?
Fiscal consolidation is a policy aiming at reducing fiscal deficit of government .
Fiscal policies deal with?
Fiscal policies deal with finances usually budgets.
Features and effectiveness of fiscal policy?
features of fiscal
What does the matching principle require?
The matching principle requires that cost of each fiscal year should be matched with revenue of that fiscal year and no previous or future period cost and revenues can be match in current fiscal year.
What is a period cost?
Period cost is the cost which must be incurred by business and not influenced with the fact whether there is any production or not in fiscal year.
Is the cost of the car fixed cost or variable cost?
Cost of car purchased for business purpose is fixed cost as this asset will be utilized for more than one fiscal year.
Why you have depreciation?
Depreciation is used to allocate the fixed cost of asset to specific fiscal years during which that fixed asset is used to earn revenue if depreciation is not used then all cost is charged to one fiscal year which is against the matching concept.
The cost of fixed assets recognized as being consumed during a fiscal period is recorded as?
depreciation expense
What does fiscal mean?
Fiscal usually relates to matters of financial stature. Fiscal could also relate to taxes and government issues. The use of the word fiscal can be combined in conjunction with fiscal cliff, fiscal year, fiscal deficit, fiscal policy and fiscal parish.
How much does it cost to mantain the parks?
The National Park Service's budget for fiscal year 2008 was $1.97 billion.
Relevance of opportunity cost?
Opportunity cost is the economic, or real cost, of taking any action (as opposed to its accounting, or fiscal, cost). This cost is relevant as part of profit-optimising functions that determine allocations of spending and goods for economic agents.
What is depreciation cost?
Depreciation is that amount or part of full cost of fixed asset which is allocated to specific fiscal year during which any asset is used to generate revenue.
What is depreciation of fixed assets?
Depreciation is the method of allocation of part of cost to all fiscal years to which fixed asset is used for revenue generation to income statement
Why aren't actual manufacturing overhead cost traced?
Actual manufacturing overheads cannot be traced until the end of production or fiscal period and companies cannot wait to find out the cost of product that's why applied onverheads are used at start of business and then adjusted for actual overheads at the end of production or fiscal period.
What is the difference between cost of sales and expenses?
In accounting, cost of sales is what you payed for the goods you sold during that fiscal period. Expenses are any costs that were incurred from the business performing it's purpose. Like rent, utilities, upkeep, salaries, etc. would all be expenses where the cost of goods sold you would get from subtracting the goods you sold from your stock at the beginning of the fiscal period.
