Preventive Costs – Meaning, Examples, Types and More
Preventive costs, as the name suggests, are the costs that a company incurs to prevent defects from occurring in a product or service. For… Read Article
Functional Costs
External Failure Cost – Meaning, Examples and More
External failure cost is one of the three types of cost of quality. It includes the cost a company incurs after a defective product… Read Article
Internal Failure Costs – Meaning, Examples and More
Internal failure cost is one of the four types of costs of quality. Three other costs are -preventive costs, appraisal costs, and external failure… Read Article
Distribution Cost – Meaning, Accounting, and More
Distribution Costs or the Distribution expenses are the costs that a company incurs to make its goods or services available to the end-users or… Read Article
Quality Costing – Meaning, Types, How to Calculate and More
Quality costing or quality cost or cost of quality (COQ) constitute the costs that a company incurs to come up with a quality product.… Read Article
Appraisal Cost: Simplified Like Never Before
What is ‘Appraisal Cost’? In the common parlance, appraisal cost typically refers to expenses borne by home sellers. A house seller hires a professional appraiser… Read Article
Selling, General and Administrative Expenses – All You Need To Know
Selling, general and administrative expenses (or SG&A) are the total of both direct and indirect selling expenses in addition to the administrative expenses. The… Read Article
Classification of Costs based on Functions / Activities
There is the various classification of costs. It could be based on nature, traceability, functions, behavior, purpose, production process, and costs period. In this… Read Article
Types of Costs and their Classification
Cost classification can be done in various ways depending on its nature and specific purpose. There are various types of costs classified into logical… Read Article