ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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TOR Definition
TOR; among many others; can mean Time of Receipt, Terms Of Reference, Time of Report, etc.
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LOADED LABOR RATE is the employee hourly rate plus employee benefits, capital expenses, and other overhead.
COMPETITIVE ADVANTAGE exists when the firm is able to deliver the same benefits as competitors but at a lower cost (cost advantage), or deliver benefits that exceed those of competing products (differentiation advantage). Thus, a competitive advantage enables the firm to create superior value for its customers and superior profits for itself. See also SUSTAINABLE COMPETITIVE ADVANTAGE.
