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Life-cycle cost analysis (LCCA) is an economic analysis tool to determine the most cost-effective option to purchase, run, sustain or dispose of an object or process. The method is popular in helping managers determine economic sustainability by figuring out the life cycle of a product or process.
Life cycle inventory analysis is followed by a life cycle impact assessment (LCIA). This phase of LCA is aimed at evaluating the potential environmental and human health impacts resulting from the elementary flows determined in the LCI. The ISO 14040 and 14044 standards require the following mandatory steps for completing an LCIA: [52] [53] [54]
Resources, events, agents (REA) is a model of how an accounting system can be re-engineered for the computer age.REA was originally proposed in 1982 by William E. McCarthy as a generalized accounting model, [1] and contained the concepts of resources, events and agents (McCarthy 1982).
Generally Accepted Accounting Principles (GAAP) is the standard framework of guidelines for financial accounting used in any given jurisdiction. It includes the standards, conventions and rules that accountants follow in recording and summarizing and in the preparation of financial statements.
A TCO analysis includes total cost of acquisition and operating costs, as well as costs related to replacement or upgrades at the end of the life cycle. A TCO analysis is used to gauge the viability of any capital investment. An enterprise may use it as a product/process comparison tool. It is also used by credit markets and financing agencies.
Record to report or R2R is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information used for providing strategic, financial and operational feedback to understand how a business is performing. [1]
The steps to implement an accounting information system are as follows: Detailed Requirements Analysis where all individuals involved in the system are interviewed. The current system is thoroughly understood, including problems, and complete documentation of the system—transactions, reports, and questions that need to be answered—are gathered.
Business cycle accounting is an accounting procedure used in macroeconomics to decompose business cycle fluctuations into contributing factors. The procedure was introduced by V. V. Chari, Patrick Kehoe, and Ellen McGrattan but is similar to techniques introduced earlier. The underlying premise of the procedure is that the economy has a long ...