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Module 11 & 12
D099 - Unit 7
| Term | Definition |
|---|---|
| capital budgeting | The long-term budgeting process to evaluate potential major projects or investments |
| operational budgeting | a short-term budgeting process that uses the company's resources to achieve a profit |
| master budget | a series of budgets that operationalize the organization's strategy |
| fixed overhead cost | costs that must be paid no matter how much is produced or sold. |
| variable cost | costs that change with the level of production or the level of sales. |
| activity-based costing | a costing method that assigns indirect costs to activities and products based on each product's use of activities. |
| return on assets managed | shows how well an organization can generate a profit using its assets. |
| customer profitability analysis | gives insights into how each customer is contributing to a company's overall performance |
| full product costing | end-to-end manufacturing costs are assigned to individual finished products |
| absorption costing | Companies treat all manufacturing costs, including both fixed and variable manufacturing costs, as product costs |
| selling and administrative budgeting | Expenses of getting a product to a customer |
| sales budgeting | The expected demand for a product |
| production budgeting | The amount of a product that needs to be manufactured to meet the determined consumer demand |
| cost of goods sold budgeting | The amount of money the business will spend to manufacture a product |
| outsource | To have part of the work done by another company |
| sales potential forecast | a forecast of the number of prospects and their buying power. |
| RACI matrix | describes the roles and responsibilities of each project participant or key stakeholder in a cross-functional or departmental project. |
| market potential | An estimate of the possible sales for a product or service for an entire industry in a market in a stated time period under ideal conditions |
| sales potential | The maximum or total sales from all perspective buyers of a product for a single firm, generally a percentage of total market potential |
| market shares | The portion of a market controlled by a particular company or product; expressed in dollars or units |
| sales force composite | a forecast based on estimates of sales in each period gathered from all of a firm's sales representatives. |
| Delphi technique | uses repeated measurement and controlled anonymous feedback to create a single forecast |
| time series technique | the use of historical data to make sales projections. |
| rollover technique | the actual sales results from one period are copied into the next period as the forecast. |
| simple moving average | using the average of any subset of numbers to get an overall idea of the trends for a data set |
| weighted moving average | puts more weight on recent data and less on past data |
| exponential smoothing | uses all the data but weights the most recent observations the heaviest |
| decomposition time series analysis | breaking down a timer series into its level, trend, seasonality and noise components |
| market tests | an experiment in which the company launches a new offering in a limited market to gain real-world knowledge of how the market will react to the product. |
Created by:
lissmisstree
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