Cost-Based Decision in Public Sector Cover Image

Cost-Based Decision in Public Sector
Cost-Based Decision in Public Sector

Author(s): Carmen Mihaela Creţu, Victoria Gheonea, Carmen Sirbu
Subject(s): Economy
Published by: Editura Universitară Danubius
Keywords: managerial accounting; public accounting; outsourced costs; opportunity cost

Summary/Abstract: Management decision must be based on relevant costs (costs that allow for the best measures for business management), recognized by their forecasting characteristics which records hidden or opportunity costs, social costs and outsourced costs. Correctly predicted a profit is to build costs for possible revenue. The cost is a sacrifice, resource consumption. Because decisions aimed at future activities, the management calls in this respect, detailed information on future costs, some of which are not included in accounting data collection system. The power of decision maker on costs is there fore limited.

  • Issue Year: 7/2011
  • Issue No: 5
  • Page Range: 31-43
  • Page Count: 13
  • Language: English