COST OVERRUN Definition

Bookmark and Share

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.

Learn new Accounting Terms

WITHOUT PREJUDICE is to come to agreement without negating the right or ability to take some form of action in the future, e.g. a legal case can be settled without prejudice, allowing for future legal action if desired by one or more of the parties to the settlement.

FIELD WORK, in auditing, is the performance of audit procedures outside the CPA's office. Much field work, but not all, is done in the client's offices after the balance sheet date.

Suggest a Term

Enter Search Term

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