EFFICIENCY Definition

Bookmark and Share

EFFICIENCY is the ratio of the output to the input of any system.

Learn new Accounting Terms

AVOIDABLE COST is the amount of expense that would not occur if a particular decision were to be implemented (e.g., if an employee is laid off at a company that is self-insured for unemployment compensation, the avoidable cost is total direct salary less payments for unemployment benefits plus savings in employee benefits).

PREDECESSOR AUDITOR is the auditor of a client for a prior year who no longer audits that client.

Suggest a Term

Enter Search Term

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