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Frequently Asked Questions Equipment Under NIH Grants

The definition for equipment as stated in 45 CFR Parts 74 and 92 is an article of tangible nonexpendable personal property having a useful life of more than one year and an acquisition cost of 5 000 or more per unit However consistent with recipient organizational policy lower limits may be established 45 CFR Part 74 2 and 74 34 and NIHGPS

Capital Expenditures Definition Explanation Examples

Capital Expenditures Definition and Explanation An expenditure which results in the acquisition of permanent asset which is intended lo be permanently used in the business for the purpose of earning revenue is known as capital expenditure

equipment definition and meaning AccountingCoach

equipment definition Equipment is a noncurrent or longterm asset account which reports the cost of the equipment Equipment will be depreciated over its useful life by debiting the income statement account Depreciation Expense and crediting the balance sheet account Accumulated Depreciation a contra asset account

Indirect Cost Definition and Example Office of

Dec 14 2017 nbsp 0183 32To facilitate preparation of an indirect cost proposal shown below are 1 some definitions of the term quotindirect costs quot 2 a brief discussion of indirect cost rate structures and 3 a simple example of an indirect cost rate computation Indirect Costs definition

Equipment Breakdown Expert Commentary IRMI

Equipment breakdown coverage is a form of property insurance and is based on the happening of an quotaccident quot from which the perils insured are identified Equipment breakdown insurance is a quotnamed perils quot policy as the perils insured are specified to dovetail with

What Is Depreciation Definition Formulas and Types

Definition Formulas and Types depreciation is a method used to alloe the cost of a purchased asset over the period of time the asset is expected to be of use such as a new office

Fixed Cost Definition What is Fixed Cost Shopify

Some types of businesses have high fixed costs perhaps because of large equipment costs or space requirements such as a commercial printing operation The cost to acquire the machinery and the space is high so therefore monthly payments are high no

What are Plant Assets Definition Meaning Example

Definition A plant asset also called property plant and equipment is a longterm fixed asset that is used to produce or sell products and services for the company These assets are tangible in nature and are expected to produce benefits for more than one year What Does Plant Asset Mean The name plant assets comes from the industrial revolution era where factories and plants were one of

Opportunity Cost Definition Investopedia

Opportunity cost refers to a benefit that a person could have received but gave up to take another course of action Stated differently an opportunity cost represents an alternative given up

Concept of Cost of Production Definition and Meaning

Concept of Cost of Production Definition and Meaning By quotCost of Production quot is meant the total sum of money required for the production of a specific quantity of output In the word of Gulhrie and Wallace quotIn Economics cost of production has a special meaning It is all of the payments or expenditures necessary to obtain the factors of production of land labor capital and management

MACHINE meaning in the Cambridge English Dictionary

machine definition 1 a piece of equipment with several moving parts that uses power to do a particular type of work 2 a computer 3 a vehicle often a motorcycle Learn more

Cost vs Expense What is the Difference

Costs don t directly affect taxes but the cost of an asset is used to determine the depreciation expense for each year which is a deductible business expense Depreciation is considered a quotnoncash expense quot because no one writes a check for depreciation but the business can use it

Variable vs Fixed Costs Definition The Strategic CFO

Jul 24 2013 nbsp 0183 32See Also Absorption vs Variable Costing Semi Variable Costs Sunk Costs Marginal Costs Average Cost Variable vs Fixed Costs Definition In accounting a distinction is often made between the variable vs fixed costs definition Variable costs change with activity or production volume In comparison fixed costs remain constant regardless of activity or production volume

What is machine definition and meaning

Definition of machine General Semi or fully automated device that magnifies human physical and or mental capabilities in performing one or more operations marginal cost Mentioned in These Terms machine element machine tool automated teller machine ATM machine instruction machine hour

What is Cost of Goods Sold for a Service Business

May 29 2012 nbsp 0183 32 The total cost of manufacturing and delivering a product or service Cost of revenue information is found in a company s income statement and is designed to represent the direct costs associated with the goods and services the company provides Indirect costs such as salaries are not included To Be Included in Cost of Revenue

Actual Cash Value vs Replacement Cost Explained Allen

Actual Cash Value vs Replacement Cost Explained Actual Cash Value is equal to the replacement cost minus depreciation ACV Replacement Cost Depreion if neither were under undue time constraints Most courts however have upheld the insurance industry s traditional definition the cost to replace with new property of like kind and

Maintenance technical Wikipedia

The technical meaning of maintenance involves functional checks servicing repairing or replacing of necessary devices equipment machinery building infrastructure and supporting utilities in industrial business governmental and residential installations Over time this has come to include multiple wordings that describe various costeffective practices to keep equipment operational

Chapter 9 Asset Valuation Equipment frazier capital

costs are higher than the machine cost itself In these situations the market transactions of used machinery may or may not represent the subject machine s value to the business enterprise These differences can be more easily shown through Table 91 When valuing machinery and equipment it is important to specify exactly what value is

Cost Definition of Cost by MerriamWebster

Cost definition is the amount or equivalent paid or charged for something price How to use cost in a sentence quotCalifornia is about to ban discrimination against black workers with natural hairstyles quot 3 July 2019 Once the machine is working efficiently electricity will make up about onethird of its operating costs

Direct Costs vs Indirect Costs University Research

Thus indirect costs are the related costs of using the University s facilities and administrative support that cannot be claimed as direct costs Indirect costs are not profit instead they are part of the real costs of conducting the outside funded R ampD By collecting indirect costs from sponsors UL Lafayette is recovering those expenses

Ch 8 Analyzing Other Direct Costs

Do not accept special tooling or test equipment as an other direct cost when general purpose equipment can do the same job at lower total cost If general purpose equipment will not do the job at a lower total cost further consider the cost of the special tooling and test equipment Determine If the Proposed Cost Is Reasonable As you

What is Capital Equipment with pictures wisegeek

Jun 15 2019 nbsp 0183 32Capital equipment is generally defined as an asset with an acquisition cost that exceeds a set amount To be a capital asset the item must also have a lifespan of more than a year The items typically are also required to perform or assist in producing a product selling a product or

What is Preventative Maintenance Preventive Maintenance

What is preventive maintenance PM Definition Preventive maintenance or preventative maintenance is maintenance that is regularly performed on a piece of equipment to lessen the likelihood of it failing It is performed while the equipment is

BASIC COST CONCEPTS download nos

1 Cost center means a loion person or item of equipment or group of these for which costs may be ascertained and used for the purpose of cost control 2 Cost object is anything for which a separate measurement of cost is desired It may be a product service project or a customer Indirect expenses

FAR Part 2 Definitions of Words and Terms

Jan 13 2017 nbsp 0183 32Definitions of Words and Terms FAC 200595 13 Jan 2017 and integrated through a comprehensive plan for fulfilling the agency need in a timely manner and at a reasonable cost It includes developing the overall strategy for managing the acquisition For purposes of this definition equipment is used by an agency if the equipment is

Equipment Leasing Definition Entrepreneur Small Business

Definition Obtaining the use of machinery vehicles or other equipment on a rental basis This avoids the need to invest capital in equipment Ownership rests in the hands of the financial

Machinery Definition of Machinery by MerriamWebster

Machinery definition is machines in general or as a functioning unit How to use machinery in a sentence Why gas dropping under 2 a gallon might cost you quot 5 June 2019 Do not drive operate machinery or consume alcohol while taking them Caroline Picard Good Housekeeping quotDo SugarBearHair Vitamins Really Work Here s What Our

Plant and equipment financial definition of plant and

Plant and Equipment The fixed assets used to produce goods for a company A factory and the machinery therein are common examples of plant and equipment On a balance sheet plant and equipment are recorded according to their historical cost It is important to note that the historical cost of net plant and equipment usually bears little or no

Cost of Goods Sold amp Cost of Services Financial Concepts

Definition Cost of Goods Sold COGS can also be referred to as cost of sales COS cost of revenue or product cost depending on if it is a product or service It includes all the costs directly involved in producing a product or delivering a service These costs

Cost Definition for EnglishLanguage Learners from

Definition of cost written for English Language Learners from the MerriamWebster Learner s Dictionary with audio pronunciations usage examples and count noncount noun labels