COMMITTED COSTS Definition

Bookmark and Share

COMMITTED COSTS are costs, usually fixed costs, which the management of an organization has a long-term responsibility to pay. Examples include rent on a long-term lease and depreciation on an asset with an extended life.

Learn new Accounting Terms

FISCAL LEVERAGE is the ability of a government to affect economic conditions and/or actions of others through fiscalist policies.

COST OVERRUN is the amount by which an entity exceeds or expects to exceed the estimated cost to completion of: a. a product; b. a process; or, c. the final limitations of costs stipulated in a contract.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.