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Inputs would typically be money (cost), people (measured either as headcount or as the number of full-time equivalents) or time/effort. Outputs would typically be money (revenue, margin, cash), new customers, customer loyalty , market differentiation, production, innovation, quality, speed & agility, complexity or opportunities.
The expense policy should also cover all the expenses for which the business won't reimburse employees. This section should have an exhaustive list so that there's no room for misinterpretation.
Ramp provides a guide to deductible business expenses, including 35 common expense categories for businesses of any size.
A relationship between the cost, volume and profit is the contribution margin. The contribution margin is the revenue excess from sales over variable costs. The concept of contribution margin is particularly useful in the planning of business because it gives an insight into the potential profits that a business can generate.
Efficiency is the often measurable ability to avoid making mistakes or wasting materials, energy, efforts, money, and time while performing a task.In a more general sense, it is the ability to do things well, successfully, and without waste.
The best way to track business expenses is to leverage technology to automate the process. ... ad budget at the same time as small line items like one-off client lunches. You need a comprehensive ...
Zero-based budgeting (ZBB) is a budgeting method that requires all expenses to be justified and approved in each new budget period, typically each year. It was developed by Peter Pyhrr in the 1970s. This budgeting method analyzes an organization's needs and costs by starting from a "zero base" (meaning no funding allocation) at the beginning of ...
The efficiency ratio indicates the expenses as a percentage of revenue (expenses / revenue), with a few variations – it is essentially how much a corporation or individual spends to make a dollar; entities are supposed to attempt minimizing efficiency ratios (reducing expenses and increasing earnings). The concept typically applies to banks.