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"A committed fixed cost has a long future planning horizon- more than on year.
A discretionary fixed cost has a short future planning horizon-under a year."
Source: http://www.drtaccounting.com/2008/08/discretionary-fixed-cost-committed.html
Another source: Just got the answer correct for my Accounting quiz!
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Financial project on Financial planning and forecasting?
A project that would accurately showcase financial planning and forecasting would be a budgeting project. A budget would clearly show the value in planning and being able to predict future financial costs.
What is considered prevention cost?
Prevention costs are expenses incurred to prevent defects or issues in products or services before they occur. These costs typically include investments in quality planning, training, process control, and preventive maintenance. They aim to enhance product quality and reliability, ultimately reducing the need for corrective actions and minimizing costs associated with failures. By focusing on prevention, organizations can improve efficiency and customer satisfaction.
What is strategic business planning used for?
Strategic business planning is used by businesses to calculate the future consequences that may occur if X plan is taken ahead. This may include doing a SWOT analysis to see if the benefits outweigh the costs of any decision. Such a tool is vital for a business in helping it decide whether a decision is worthy.
What is the adient cost basis for this project?
The adient cost basis for this project refers to the initial investment or expenses incurred to start and carry out the project. It includes all the costs associated with planning, development, and implementation of the project.
How can one account for credit card rewards in their financial planning?
When planning your finances, consider credit card rewards as a way to earn benefits like cash back or travel points. Track your spending to maximize rewards and choose cards that align with your spending habits. Be mindful of fees and interest rates to ensure rewards don't outweigh costs.
Does committed fixed costs have a short term planning horizon-usually one year?
False
How does the planning of fixed overhead costs differ from the planning of variable overhead costs?
it doens't
A statistic planning budget is suitable for planning and for evaluating how well costs are controlled true or false?
A static planning budget is suitable for planning and for evaluating how well costs are controlled.
What are some examples of committed fixed costs?
leasing costs, committed costs are fixed costs that are caused by the possession of facilities, materials, etc.
What do capacity costs allow a firm to do?
Capacity costs (committed costs) give a firm the capability to produce or to sell,
What is journal voucher entry in tally of electricity bill office costs for Rs.400 received from horizon ent?
W
What is cost planning?
Cost planning is necessary for the following:Client DemandsCurrent Economic ConditionsIncreased CompetitionNeed for the Control of Construction CostsDistribution of Costs in a Balanced Manner
What is the cost of Horizon Milk per gallon?
Horizon Milk is currently $5.56 per gallon. Obviously this price is subject to fluctuation, and will most likely differ between grocery chains due to their location and shipping costs.
Why are committed fixed costs the most difficult of fixed costs to change?
Some committed fixed costs are the most difficult of fixed costs to change because they are required to maintain basic operations. For example, rent is a fixed cost that is difficult to change because it is bound by a lease.
What are the limitation of human resource planning?
A large limitation of human resource planning is uncertainty. Many HR professionals dislike the planning aspect because they believe it costs money in the form of time and training.
Managerial accounting is directed at gathering useful information about costs for planning and control decisions?
True
What it costs to paint a bathroom?
It depends on how big your bathroom is and how much wall space you are planning to cover.
