This Costing Technique Looks Beyond the Initial Capital Investment of an IT

question 6

Short Answer

This costing technique looks beyond the initial capital investment of an IT solution and includes costs associated with technical support, administration, training and system retirement.

---

Definitions:

Internal Control

Procedures and policies implemented by a company to safeguard its assets, ensure accurate financial reporting, and promote operational efficiency.

Cash Payments

Transactions in which payment for goods or services is made with cash at the time of purchase.

Voucher

A special form for recording relevant data about a liability and the details of its payment.

Cash Payment

is the act of settling a transaction or discharging a debt by using physical currency or through a digital medium representing immediate value.