Cost-Based Decision in Public Sector

Carmen Cretu (), Victoria Gheonea () and Carmen Sirbu ()
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Carmen Cretu: Danubius University of Galati, Romania
Victoria Gheonea: Danubius University of Galati, Romania
Carmen Sirbu: Danubius University of Galati, Romania

Acta Universitatis Danubius. OEconomica, 2011, issue 5(5), 31-43

Abstract: Management decision must be based on relevant costs (costs that allow for the best measures for business management), recognized by their forecasting characteristics which records hidden or opportunity costs, social costs and outsourced costs. Correctly predicted a profit is to build costs for possible revenue. The cost is a sacrifice, resource consumption. Because decisions aimed at future activities, the management calls in this respect, detailed information on future costs, some of which are not included in accounting data collection system. The power of decision maker on costs is therefore limited.

Keywords: managerial accounting; public accounting; outsourced costs; opportunity cost (search for similar items in EconPapers)
Date: 2011
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