SIMULATION Definition

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SIMULATION is the representation of the operation or features of one process or system through the use of another. Computer simulation of waiting lines can determine the number of employees needed to serve customers at a particular time.

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INDEX OF LEADING ECONOMIC INDICATORS is compiled by the U.S. Commerce Department and is a composite of 12 economic measurements.

RESPONSIBILITY ACCOUNTING is the collection, summarization, and reporting of financial information about various decision centers throughout an organization; can also be called profitability accounting or activity accounting. It tracks costs, revenues, or profits to the individual managers who are responsible for making the decisions about costs, revenues, or profits and taking action about them.

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