COST APPROACH Definition

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COST APPROACH is a general way of estimating a value indication of an individual asset by quantifying the amount of money that would be required to replace the future service capability of that asset.

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OVERHEAD is the costs associated with providing and maintaining a manufacturing or working environment. For example: renting the building, heating and lighting the work area, supervision costs and maintenance of the facilities. Includes indirect labor and indirect material.

FOOTNOTE is text that appears at the bottom of a page that adds explanation. In finance, it is often used in financial statements to provide explanatory addendums or disclosures as to the detail of various entries in the financial statements, e.g. debt, deferments, and off balance sheet items.

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