Can anyone help me to state the precise name of the terms with the following definitions? Thanks a lot!
1. The value of a benefit sacrificed in favour of an alternative course of action
2. Costs appropriate to aiding the making of specific management decisions
3.Expenditure on goods or services for future benefit, which is to be charged to future operations, these amounts are included in current assets
:?: :?: :?: Who can help me?

The first is Opportunity Cost and the third one is Prepaid Expenses. I'm not sure about the second one, I'll look into it.

All right,thanks a lot...
Here comes some more:
1.The basic costing method applicable where the work consists of separate contracts,jobs or batches,each of which is authorised by a special contract or order.
2.a factor which at any time may limit the activity of an entity,often one where there is shortage or difficulty of supply.
3.Frequency distributions with,say,20% of the items accounting for 80% of the value/resources.
4.The period for which a work station is available for production but is not used due to e.g. shortage of tooling,material or operators
:D

Just a guess:
1. Batch costing
2. Limiting factor?
3. not sure
4. down or idle time

How about these?(I'm really fed up with these terms,it's my homework,lecuturer only gave us the definitions,asked us to find out the word)
1. Favourable and unfavourable events which occur between the balance sheet date and the date on which the financial statements are proved by the board of directors,or equivalent in other organizations
2.The difference between sales value and the variable cost of those sales
3.The system of controls,financial or otherwise,established to carry out the functions of an entity in an orderly and efficient manner,ensure adherence to management policies,safeguard assets and secure completeness and accuracy of records
4.A set of accounting records which provides financial and cost accounts using a common input of data for all purposes
5.A budget which is designed to remain unchanged irrespective of the volume of output or turnover attained
:lol:

Up...

In my opinion:
1. Contingent assets and liabilities
2. Contribution
3. Auditing (guess)
4. Books of prime entry (guess as well)
5. Fixed Budget

I would say:

1. Post balance sheet events
2. Contribution
3. Internal controls
4. Integrated accounts
5. Fixed budgets

I think the answers are:
1- Opportunity Cost
2- Relevent Cost
3- Prepaid Expenses

Bluewednesday, you got them all right.