Costs and Budgets

Costs and Budgets

1. COSTS

   • Means
   • Sum of efforts
     • Invested to
       • produce something
   • It is waived
   • Is sacrificed
     • In order to obtain it
   • Definition of different authors.
     • According Juan Garcia
       • The cost
         • the set
           • of lost resources
             • to reach
               • a specific good
     • According Aldo S. Torres
       • The cost
         • decrement
           • resources
             • This resources
               • have been consumed
                 • to make
                   • a product.
     • According Ernesto Reyes
       • The cost
         • summary of
           • disbursements
           • expenses
             • precise aim
               • productive
               • distributive
   • Features
     • recoverable
     • presented in the Balance Sheet
   • Cost classification
     • direct costs
       • identifiable
       • quantifiable
       • representative
       • Control
     • indirect expenses
       • control free
     • production volume
       • fixed costs
       • Variable expends
   • Cost types
     • investment costs
     • replacement costs
     • cost incurred
     • manufacturing and non-manufacturing costs
     • Total cost
     • unit cost of production
     • Unit cost
   • Classification according to nature
     • production costs
       • extraction costs
       • primary exploitation costs
       • industrial costs
       • marketing costs
         • selling costs
         • distribution costs
         • management costs
         • financing costs
         • Miscellaneous service delivery costs

2. BUGETS

   • Definition of different authors.
     • According Cristobal del Rio
       • scheduled estimate
         • Operating conditions
         • Results
           • obtain by a company
         • systematically
     • According Jean Meyer
       • coordinated set
         • forecasts
           • anticipated
             • the basic results
               • Of the company
     • According Glenn Welsch
       • systematic method
         • achieve responsibilities
           • planning
           • coordination
           • Control
   • advance determination
     • income
     • costs
     • expenses
     • profits
     • determined period
   • Advantages
     • provision of resources
       • activities development
       • vision of new alternatives
     • financial information
       • makes decisions
         • best results
     • Better control
       • workforce
       • indirect costs
   • Disadvantages
     • subjectivity
       • different variables
     • expensive implantation
       • not immediate results
     • straitjacket

3. Importance

   • necessary planning
     • higher risks
   • competitive markets
   • further investigation
   • analyze behaviors
   • adopt solutions on time

4. Relationship

   • functions
     • administrative
     • financial
   • decision making
     • budget basics
     • budget techniques
     • results impact
     • intrinsic fundamentals
     • supports does not replace
       • the management

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