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Mental accounting (or psychological accounting) is a model of consumer behaviour developed by Richard Thaler that attempts to describe the process whereby people code, categorize and evaluate economic outcomes. [2] Mental accounting incorporates the economic concepts of prospect theory and transactional utility theory to evaluate how people ...
Behavioral economics is the study of the psychological (e.g. cognitive, behavioral, affective, social) factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by traditional economic theory. [1][2] Behavioral economics is primarily concerned with the bounds of rationality of economic ...
0033-3107. Psychology Today is an American media organization with a focus on psychology and human behavior. The Psychology Today publication began as a bimonthly magazine, which first appeared in 1967. The print magazine's reported circulation is 275,000 as of 2023. [2] The Psychology Today website features therapist and health professional ...
e. Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing them ...
Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [1]
e. In management accounting, the Cash conversion cycle (CCC) measures how long a firm will be deprived of cash if it increases its investment in inventory in order to expand customer sales. [1] It is thus a measure of the liquidity risk entailed by growth. [2] However, shortening the CCC creates its own risks: while a firm could even achieve a ...
e. Throughput accounting (TA) is a principle-based and simplified management accounting approach that provides managers with decision support information for enterprise profitability improvement. TA is relatively new in management accounting. It is an approach that identifies factors that limit an organization from reaching its goal, and then ...
J. Lee Nicholson. Jerome Lee (J. Lee) Nicholson(1863 – November 2, 1924) was an American accountant, industrial consultant, author and educator[1]at the New York Universityand Columbia University,[2]known as pioneer in cost accounting. He is considered in the United States to be the "father of cost accounting."