Briefly Describe Activity-Based Costing (ABC), Value Chain, Lean Accounting and Enterprise

question 56

Essay

Briefly describe activity-based costing (ABC), value chain, lean accounting and enterprise risk management (ERM).

Understand and calculate trade discounts and their impact on cost.

Calculate the markup based on cost and selling price.

Determine the impact of overhead expenses on pricing and profit.

Analyze and calculate the rate of mark-down necessary to achieve desired profit margins or break-even points.

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Definitions:

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