Study sets matching "term:cost analysis = comparison of costs and benefits associated with training"

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Study sets matching "term:cost analysis = comparison of costs and benefits associated with training"

Chapter 12: The Costs and Benefits of Training Programs
Costing
Direct costs
Indirect costs
Development costs
The process of identifying all the expenditures used in train…
Costs that are linked directly to a particular training progr…
Costs that support training activities and are not directly l…
Costs that are incurred in the development of a training prog…
Costing
The process of identifying all the expenditures used in train…
Direct costs
Costs that are linked directly to a particular training progr…
41 terms
Cost Benefit Analysis (CBA)
CBA
CBA Equation
Review of health care literature
CBA
Economic analysis that assesses whether the outcome (BENEFIT)…
Value of resources consumed/Value of the outcome
Prevention strategies (58%)... Pharmaceuticals (25%)... Education &…
Grounded in welfare theory (societal impact of irrigating, fl…
CBA
Economic analysis that assesses whether the outcome (BENEFIT)…
CBA Equation
Value of resources consumed/Value of the outcome
13 terms
T&D Chapter 12: The costs of benefits of training programs
Benefit-cost ratio (BCR)
Break even anaylsis
Cost effectiveness evaluation
Cost benefit evaluation
The benefit divided by the cost of the training program
Finding the value at which benefits equal costs and utility i…
A comparison of the monetary cost of training to the benefit…
a comparison of the cost of training in monetary terms to be…
Benefit-cost ratio (BCR)
The benefit divided by the cost of the training program
Break even anaylsis
Finding the value at which benefits equal costs and utility i…
15 terms
AU 67 Ch 6 Using Cost-Benefit Analysis in Product Development
Cost/Benefit Analysis
As part of its product development dec…
A cost-benefit analysis involves 3 ste…
An insurer considers both monetary & n…
a study that compares the likely costs of a product or servic…
-mission statement & strategic goals... -company structure... -stat…
1. Identify & quantify all potential costs associated with th…
estimated costs associated with product development
Cost/Benefit Analysis
a study that compares the likely costs of a product or servic…
As part of its product development dec…
-mission statement & strategic goals... -company structure... -stat…
56 terms
Discounting and Costs/Benefits
marginal user cost
discount rate
when does discounting matter and what…
intergenerational equity
an extra cost of extracting nonrenewable resources that repre…
includes pure rate of time preference and opportunity cost of…
discounting matters if costs and benefits occur over time. Th…
concerns of the use of discounting to compare costs and benef…
marginal user cost
an extra cost of extracting nonrenewable resources that repre…
discount rate
includes pure rate of time preference and opportunity cost of…
21 terms
VI Benefit Cost Analysis
Primary Objective of BCA
Theoretical Basis BCA
BCA Assumptions
Reasons to use BCA
acts as a decision rule and an information system for evaluat…
BCA is a test for PPI which is pareto efficiency (one person…
1. Consumer sovereignty - policy created so that the consumer…
1. Easy to apply... 2. Consistent goal of the benefits > costs... 3…
Primary Objective of BCA
acts as a decision rule and an information system for evaluat…
Theoretical Basis BCA
BCA is a test for PPI which is pareto efficiency (one person…
42 terms
Cost Acc Chapter 1
value chain
components of the value chain
value added activities
supply chain
set of activities that transforms raw materials and resources…
R&D, design, purchasing, production, marketing, distribution,…
those activities that customers perceive as adding utility to…
set of firms and individuals that sells goods and services to…
value chain
set of activities that transforms raw materials and resources…
components of the value chain
R&D, design, purchasing, production, marketing, distribution,…
1.2 making economic decision
Trade off
Opportunity cost
Marginal cost
Marginal benefits
The alternative you face when you decide to do one thing rath…
The cost of the next best use of your time or money
The cost of producing one additional unit of output
The extra benefits associated with an action
Trade off
The alternative you face when you decide to do one thing rath…
Opportunity cost
The cost of the next best use of your time or money
161 terms
CDFM Module 2: Budget and Cost Analysis; Competency Area 2: Cost and Economic Analysis
The Defense Acquisition System is the…
What are the appropriations that may b…
What is the acquisition approach that…
What is the term used to describe doll…
Cost, Schedule, and Performance risks
RDT&E, Procurement, O&M, MILCON, and MILPERS
Evolutionary acquisition
Base year dollars or Constant year dollars
The Defense Acquisition System is the…
Cost, Schedule, and Performance risks
What are the appropriations that may b…
RDT&E, Procurement, O&M, MILCON, and MILPERS
9 terms
GOVERNMENT FINANCE- Chapter 8- Cost Benefit analyst
Cost-benefit analysis
Accounting Costs
Economic Costs
Social Marginal Costs (SMC)
The comparison of costs and benefits of public goods projects…
calculates costs solely by adding up what the government pays…
costs associate with diverting resources from their next best…
Marginal social cost (MSC) is the total cost society pays for…
Cost-benefit analysis
The comparison of costs and benefits of public goods projects…
Accounting Costs
calculates costs solely by adding up what the government pays…
103 terms
CDFM Module 2: Budget and Cost Analysis
What are the three phases of the PPBE?
Name of the automated database that su…
Title of the final document of the pla…
Who serves as the chairman of the Nati…
Planning, Programming and Budgeting
FYDP
Join Programming Guidance
President
What are the three phases of the PPBE?
Planning, Programming and Budgeting
Name of the automated database that su…
FYDP
36 terms
ECON UNIT 5: COST-BENEFIT ANALYSIS
Impact Analysis
Cost Effectiveness Analysis
Cost-Benefit Analysis
Environmental Valuation
Lists but does not quantify ($) the costs and benefits associ…
Concerned with finding the lowest cost method--not always the…
Satisfies dynamic efficiency criterion.... Computes $ values fo…
Determined by people's willingness to make trade-offs (WTP fu…
Impact Analysis
Lists but does not quantify ($) the costs and benefits associ…
Cost Effectiveness Analysis
Concerned with finding the lowest cost method--not always the…
Opportunity Cost
trade-off
opportunity cost
"guns or butter"
cost/benefit analysis
the act of giving up one benefit in order to gain another
The most desirable alternative given up as the result of a de…
a phrase that refers to the trade-offs that nations face when…
A comparison of estimated costs and benefits of actions
trade-off
the act of giving up one benefit in order to gain another
opportunity cost
The most desirable alternative given up as the result of a de…
22 terms
Chapter 1: Cost Accounting: Information for Decision Making
value chain
value-added activities
supply chain
distribution chain
set of activities that transforms raw resources into the good…
those activities that customers perceive as adding utility to…
set of firms and individuals that sells goods and services to…
set of firms and individuals that buys and distributes goods…
value chain
set of activities that transforms raw resources into the good…
value-added activities
those activities that customers perceive as adding utility to…
40 terms
Budgets and Cost Analysis: Chapter 13
Personal Budget
budget
Line item budget
Components of LIB: staff pattern costs
individuals financial plan that allocates future personal inc…
costs inured in the implementation of an objective (research…
organizes expenditures by line item category is the simplest…
replicates staff patterns... have consultant to determine staffi…
Personal Budget
individuals financial plan that allocates future personal inc…
budget
costs inured in the implementation of an objective (research…
22 terms
Ch. 10: Standard Costing and Analysis of Direct Costs
Standard Cost
Cost variance
Management by Exception
Task Analysis
A predetermined cost for the production of goods and services…
The difference between actual and standard cost
A managerial technique in which only significant deviations f…
Setting standards by analyzing the production process
Standard Cost
A predetermined cost for the production of goods and services…
Cost variance
The difference between actual and standard cost
Ch. 5.3 Cost, Revenue, and Profit Maximization
fixed cost
overheard
variable cost
total cost
the cost that a business incurs even if the plant is idle and…
total fixed cost
a cost that changes when the business rate of operation or ou…
the sum of the fixed and variable costs
fixed cost
the cost that a business incurs even if the plant is idle and…
overheard
total fixed cost
Pharmacoeconomics T1 L1
cost minimization analysis
cost minimization analysis
cost minimization analysis
cost minimization analysis
used to compare costs between interventions when the outcomes…
cannot be used when outcomes of interventions are different
ex - comparing two generics that FDA rates as equivalent but…
not appropriate to compare different med classes using this i…
cost minimization analysis
used to compare costs between interventions when the outcomes…
cost minimization analysis
cannot be used when outcomes of interventions are different
GFEBS L230E Cost Management Process Overview
Direct Cost
Indirect Cost
Funded Cost
Unfunded Cost
A cost such as labor, materials, or supplies that can be trac…
A cost that cannot be traced directly to a specific organizat…
The value of goods or services received because of an obligat…
A cost that is financed by another organization's or activity…
Direct Cost
A cost such as labor, materials, or supplies that can be trac…
Indirect Cost
A cost that cannot be traced directly to a specific organizat…
Training Human Resources - 8
Training
knowledge management
performance consulting
orientation
process whereby people acquire capabilities to perform jobs
the way an organization identifies and leverages knowledge in…
process in which a trainer and an organization work together…
planned introduction of new employees to their jobs, coworker…
Training
process whereby people acquire capabilities to perform jobs
knowledge management
the way an organization identifies and leverages knowledge in…
12 terms
HRM Chapter 7
Training
Needs assessment
Organization Analysis
Person Analysis
-An organization's planned efforts to help employees acquire…
process of evaluating the organization, individual employees,…
-Process for determining appropriateness of training by evalu…
-process of determining individual's needs and readiness for…
Training
-An organization's planned efforts to help employees acquire…
Needs assessment
process of evaluating the organization, individual employees,…
Cost Accounting Chapter 9: Corporate Costs and Customers
Corporate Costs
Divisional Costs
Relevance
Relevant
costs that are analogous to facility level costs; those for w…
costs that are traceable to entire divisions of the company,…
information has relevance if it is expected to be needed by u…
information is relevant to decision making when it is future…
Corporate Costs
costs that are analogous to facility level costs; those for w…
Divisional Costs
costs that are traceable to entire divisions of the company,…
46 terms
Cost effective Analysis Chapter 5
Cost effective analysis measures cost in
Advantage of a CEA
disadva. of of CEA
you can not measure outcomes associate…
dollars and outcomes in natural units that indicate an improv…
is that they can use health units that are more commonly used…
outcomes have to be measured in the same clinical unity
asthma and blood pressure ... - the units must be the same
Cost effective analysis measures cost in
dollars and outcomes in natural units that indicate an improv…
Advantage of a CEA
is that they can use health units that are more commonly used…
65 terms
Cost Accounting Chapter 1 & 2 Vocab
Activity-based costing (ABC)
Prepaid Expense
Accumulated Depreciation
Man OH Incurred
Costing method that firsts assigns costs to activities & then…
Current Asset Debit to Increase Debit Normal Balance
Contra Fixed Assed Credit normal balance Credit to Increase B…
Debit normal balance... purchased
Activity-based costing (ABC)
Costing method that firsts assigns costs to activities & then…
Prepaid Expense
Current Asset Debit to Increase Debit Normal Balance
Fundamentals of Cost Accounting (4th Edition) Ch.1
Value Chain
Value-Added Activities
Supply Chain
Distribution Chain
Set of activities that transforms raw resources into the good…
Those activities that customers perceive as adding utlity to…
Set of firms and individuals that sells goods and services to…
Set of firms and individuals that buys and distributes goods…
Value Chain
Set of activities that transforms raw resources into the good…
Value-Added Activities
Those activities that customers perceive as adding utlity to…
Chapter 5 TRAINING & DEVELOPMENT
Training
Development
Learner Readiness
Reinforcement
Used to acquire capabilities. Referred to as teaching specifi…
To provide knowledge and understanding that will enable peopl…
Ability to learn (Must possess basic skills)... Motivation to le…
LAW OF EFFECT*... States that people tend to repeat behaviors th…
Training
Used to acquire capabilities. Referred to as teaching specifi…
Development
To provide knowledge and understanding that will enable peopl…
24 terms
Chapter 1 Managerial Cost Accounting
Activity-based costing (ABC)
Benchmarking
Budget
Cost Accounting
Costing method that first assigns costs to activities and the…
Continual process of measuring a company's own products, serv…
Financial plan of the revenues and resources needed to carry…
Field of accounting that measures, records, and reports infor…
Activity-based costing (ABC)
Costing method that first assigns costs to activities and the…
Benchmarking
Continual process of measuring a company's own products, serv…
8 terms
chapter 12
training and the bottom line
costing training programs
Direct costs
indirect costs
effectiveness of training depends on cost benefits... hr must ca…
costing is the process of identifying all expenditures used i…
linked directly to training program
support training activities and are not directly related to p…
training and the bottom line
effectiveness of training depends on cost benefits... hr must ca…
costing training programs
costing is the process of identifying all expenditures used i…
CNE Vocab.
trade off
opportunity cost
marginal cost
marginal benefits
Giving up one thing for another... ex.trading one card for another
Cost of the next best alternative use of money, time, or reso…
Extra cost of producing one additional unit of production.... ex…
the additional or extra benefit associated with an action... ex.…
trade off
Giving up one thing for another... ex.trading one card for another
opportunity cost
Cost of the next best alternative use of money, time, or reso…
11 terms
Cost, Revenue, and Profit Maximization
fixed cost
overhead
variable cost
total cost
a business expense that is not dependent on the level of good…
a broad category of fixed costs that includes interest rent t…
a production cost that varies as output changes; (examples: l…
all costs associated with production; variable costs plus fix…
fixed cost
a business expense that is not dependent on the level of good…
overhead
a broad category of fixed costs that includes interest rent t…
5 terms
1.2 making economic decision
Trade off
Opportunity cost
Marginal cost
Marginal benefits
The alternative you face when you decide to do one thing rath…
The cost of the next best use of your time or money
The cost of producing one additional unit of output
The extra benefits associated with an action
Trade off
The alternative you face when you decide to do one thing rath…
Opportunity cost
The cost of the next best use of your time or money
35 terms
Cost Accounting; Information for Decision Making: Chapter 1
Value Chain
Components
Value-added Activities
Supply Chain
The set of activities that transforms raw resources into the…
Research & Development, Design, Purchasing, Production, Marke…
Activities that the firms in the chain perform are those that…
Firms buy resources from suppliers (other companies, employee…
Value Chain
The set of activities that transforms raw resources into the…
Components
Research & Development, Design, Purchasing, Production, Marke…
Section 2 making economic decision
Trade off
Opportunity cost
Marginal cost
Marginal benefits
The alternative you face when you decid to do one thing rathe…
The cost of the next best use of your time or money
The cost of producing one additional unit of output
The extra benefits associated with an action
Trade off
The alternative you face when you decid to do one thing rathe…
Opportunity cost
The cost of the next best use of your time or money
Civics Vocab
Fixed costs
Variable costs
Total costs
Marginal costs
Cost that doesn't change with all increase or decrease in amo…
cost can vary over a period of time.
fixed cost + total cost
additional or extra opportunity costs associated with an action
Fixed costs
Cost that doesn't change with all increase or decrease in amo…
Variable costs
cost can vary over a period of time.
18 terms
PharmEcon Definitions
Cost benefit analysis
Cost effectiveness analysis
Cost minimization analysis
Cost utility analysis
A method used to measure both costs and outcomes in monetary…
Measures outcomes in natural units (mmHg)... Ex: cholesterol lev…
The simplest to conduct because the outcomes are assumed to b…
Measures outcomes based on years of life that are adjusted by…
Cost benefit analysis
A method used to measure both costs and outcomes in monetary…
Cost effectiveness analysis
Measures outcomes in natural units (mmHg)... Ex: cholesterol lev…
Purchasing & Cost Control - Chapter 9
Data Sources (3)
POS Data (2)
Sales Data
Labor Data
1) POS... 2) Accounting Software- expenses... 3) Operating Calendar
1) Sales Data... 2) Labor Data
dollars and sales mix, guest count, ticket average, time of d…
hours, dollars, category, time of day costs, category costs
Data Sources (3)
1) POS... 2) Accounting Software- expenses... 3) Operating Calendar
POS Data (2)
1) Sales Data... 2) Labor Data
45 terms
Training and Development: Chapter 6
Training Effectiveness
Training Outcomes (or Criteria)
Training Evaluation
Evaluation Design
The benefits that the company and trainees receive from train…
Masures that the trainer and the company use to evaluate trai…
The process of collecting the outcomes needed to determine wh…
The collection of information (what, when, how, and from who)…
Training Effectiveness
The benefits that the company and trainees receive from train…
Training Outcomes (or Criteria)
Masures that the trainer and the company use to evaluate trai…
Training
training
benefits of strategic training
organizational competitiveness and tra…
when is training effective?
an organizations planned efforts to help employees acquire jo…
HR an trainers partner with operation managers to solve probl…
training makes organizations more competitive... training helps…
teaches what it was designed to... see growth in employees or pr…
training
an organizations planned efforts to help employees acquire jo…
benefits of strategic training
HR an trainers partner with operation managers to solve probl…
30 terms
Train and Develop:10,12
Studies report that
Transfer of Training
extent of transfer of training
all directly affect transfer
60-90% of what is learned in training not applied on-the-job…
Refers to application of knowledge and skills learned in trai…
Positive: Trainees effectively apply new learning on the job…
Cognitive ability, training motivation, self-efficacy, goal o…
Studies report that
60-90% of what is learned in training not applied on-the-job…
Transfer of Training
Refers to application of knowledge and skills learned in trai…
SALES COMPARISON APPROACH AND COST APPROACH
What is the go to approach for apprais…
The property being evaluated is called…
Similar properties recently sold are c…
In a Sales Comparison Approach, Apprai…
Sales Comparison Approach
"Subject"
"Comps" or "Comparables"
"Comps" or "Comparables"
What is the go to approach for apprais…
Sales Comparison Approach
The property being evaluated is called…
"Subject"
25 terms
Ch. 1 of Cost Accounting
activity based cost accounting, ABC
benchmarking
budget
cost accounting
costing method that first assigns costs to activities and the…
continual process of measuring a company's own products, serv…
financial plan of the revenues and resources needed to carry…
the field of accounting that measures, records, and reports i…
activity based cost accounting, ABC
costing method that first assigns costs to activities and the…
benchmarking
continual process of measuring a company's own products, serv…
20 terms
Basic Cost Concepts - ch 6
what is cost?
fixed costs
discretionary fixed costs
capacity fixed costs
reduction of an asset, generally for the ultimate purpose of…
remain constant in the short run, even when sales varies
don't affect the selling capacity of a business
relate to a firms ability to provide goods & services
what is cost?
reduction of an asset, generally for the ultimate purpose of…
fixed costs
remain constant in the short run, even when sales varies
17 terms
Ch 8 - Training
Training
Knowledge management
Self-efficacy
Adult learning
Process wherby people acquire capabilities to perform jobs.
The way an organization identifies and leverages knowledge to…
People's belief that they can successfully learn the training…
Ways in which adults learn differently than younger people.
Training
Process wherby people acquire capabilities to perform jobs.
Knowledge management
The way an organization identifies and leverages knowledge to…
6 terms
Chapter 16
benefit-cost ratio
benefit-cost analysis
benefit-cost ratio
a project is considered viable
relates the desired benefits to the capital investment requir…
method of selecting alternatives most commonly used by govern…
comparisons are based on a
when the net benefits associated with its implementation exce…
benefit-cost ratio
relates the desired benefits to the capital investment requir…
benefit-cost analysis
method of selecting alternatives most commonly used by govern…
65 terms
Planning Project Costs
Activities involved in effective cost…
Cost management processes
plan cost management
estimate costs
-working out what resources required to complete activities w…
-plan cost management... -estimate costs... -determine budget... -cont…
-establishing all procedures and policies that should be foll…
-forecasting what each project activity will cost based on re…
Activities involved in effective cost…
-working out what resources required to complete activities w…
Cost management processes
-plan cost management... -estimate costs... -determine budget... -cont…
118 terms
Cost Acct
Value Chain
Supply Chain
Distribution Chain
Cost-Benefit Analysis
set of activities that transforms raw resources into goods an…
set of firms and individuals that sells goods and services to…
set of firms and individuals that buys and distributes goods…
process of comparing benefits with costs associated with a pr…
Value Chain
set of activities that transforms raw resources into goods an…
Supply Chain
set of firms and individuals that sells goods and services to…
25 terms
Chapter 1 Cost
Value chain
Value-added activities
Supply chain
Distribution chain
Set of activities that transforms raw resources into the good…
Those activities that customers perceive as adding utility to…
Set of firms and individuals that sells goods and services to…
Set of firms and individuals that buys and distributes goods…
Value chain
Set of activities that transforms raw resources into the good…
Value-added activities
Those activities that customers perceive as adding utility to…
85 terms
Chapter 5
Training
Training Myths
Training vs. Development
T or F - students are more successfull…
the process whereby people acquire capabilities to perform jo…
1. learning styles ... 2. the more they like it, the more they l…
training:... -current job, individual employees, immediate, fix…
False - the most effective way to learn is based not on indiv…
Training
the process whereby people acquire capabilities to perform jo…
Training Myths
1. learning styles ... 2. the more they like it, the more they l…
20 terms
Cost Analysis 3
increment of borrowing
increment of investment
incremental rate of return
internal rate of return
we accept that when the incremental rate of return equals or…
we accept that when the incremental rate of return equals or…
IRR which is the difference between the alternatives in rate…
interest rate at which the benefits are equal to the costs
increment of borrowing
we accept that when the incremental rate of return equals or…
increment of investment
we accept that when the incremental rate of return equals or…
Economics Vocab
Trade Off
Opportunity Cost
Marginal Cost
Marginal Benefit
Sacrificing one good or service to purchase or produce anothe…
Cost of the next best alternative use of money, time, or reso…
Extra cost of producing one additional unit of production. EX…
The additional or extra benefit associated with an action. EX…
Trade Off
Sacrificing one good or service to purchase or produce anothe…
Opportunity Cost
Cost of the next best alternative use of money, time, or reso…
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