VALUE FOR MONEY Definition

Bookmark and Share

VALUE FOR MONEY is in the perception of the buyer or receiver of goods and/or services. Proof of good value for money is in believing or concluding that the goods/services received was worth the price paid. Examples of the types of factors that may be considered are suitability, quality, skills, price, whole of life costs and other criteria. The mix of these and other factors and the relevant importance of each will vary on a case by case basis.

Learn new Accounting Terms

GAAP is Generally Accepted Accounting Principles or Generally Accepted Accounting Procedures (less common).

IN THE RED means losing money; the opposite of "in the black."

Suggest a Term

Enter Search Term

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