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To be recognized as a sale under IFRS, factored receivables do not have to be isolated.
Predetermined Overhead Rate
A rate calculated before a period begins, used to apply overhead costs to products based on a certain activity such as labor hours or machine hours.
Machine-Hours
A measure of the amount of time machines are operating in the production process, often used to allocate manufacturing overhead costs.
Markup
The amount added to the cost price of goods to cover overhead and profit, calculated as a percentage of the cost.
Predetermined Overhead Rate
A rate used to apply manufacturing overhead to products or job orders and is typically based on direct labor hours, direct labor costs, or machine hours.
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