Glossary

Definition of marginal costing

Submitted by skeptic on Sun, 2007-07-01 21:41

"Definition of marginal costing is incorrect in accounting terms. It identifies the cost and contribution of producing one more unit of work/activity. Definition given in the glossary more closely resembles that for standard costing."

[from http://www.best-management-practice.com/changeLog/maintainIssue.aspx?ID=9 ]

Definition of Certification in glossary

Submitted by skeptic on Sun, 2007-07-01 21:39

"Definition of Certification in glossary states 'The term Certification is also used to mean awarding a certificate to verify that a person has achieved a qualification.' This is incorrect; a certificate is awarded to serve as evidence that a person has achieved a qualification. Someone other than the awarding authority would use it to verify the qualification of the individual. This is an important distinction."

[from http://www.best-management-practice.com/changeLog/maintainIssue.aspx ]

Definition of Accounting in glossary

Submitted by skeptic on Sun, 2007-07-01 21:32

"Definition of Accounting in glossary is incorrect, includes activities associated with Budgeting (comparing costs with budget to determine and manage variance)."

[from http://www.best-management-practice.com/changeLog/maintainIssue.aspx?ID=11 ]

Marginal costing definition

Submitted by JamesFinister on Tue, 2007-06-26 12:34

Marginal costing is defined in the glossary as "The Cost of continuing to provide the IT Service. Marginal Cost does not include investment already made, for example the cost of developing new software and delivering training."

In accountancy terms the marginal cost is typically defined as, for the sake of simplicity, "the cost of doing one more thing (unit of work/activity)", for example how much does it cost to extend service hours by one hour.

The definition as given sounds more like standard costing ( which isn't in the glossary )

No ... Manager roles defined in glossary

Submitted by skeptic on Mon, 2007-06-25 22:48

This appears to be a conscious decision to define XXX Management but not XXX Manager. There are a few definitions with the word "manager" but they are geenric terms like "process manager' not specific roles (except "Account Manager")

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