indirect spending definition
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Hidden Taxes: How Much do You Really Pay? For the purposes of this paper, indirect spend is defined as: Any purchased good or. service that does not end up in the product or service delivered to a customer. Common examples of indirect spend include professional services, utilities, company. travel, office products, and employee benefits. With increased outsourcing of non-core capabilities, the growth of the service sector, and increasing cost pressure, the importance of managing indirect spend is increasing.
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Indirect Cost: Definition and Example Indirect Cost: Definition and Example To facilitate preparation of an indirect cost proposal, shown below are (1) some definitions of the term indirect costs, (2) a brief discussion of indirect cost rate structures and (3) a simple example of an indirect cost rate computation. Indirect Costs (definition extracted from FAR Part 31.2)
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Indirect costs Indirect costs are costs that are not directly accountable to a cost object (such as a particular project, facility, function or product). Indirect costs may be either fixed or variable.Indirect costs include administration, personnel and security costs. These are those costs which are not directly related to production.Some indirect costs may be overhead. But some overhead costs can be directly attributed to a project and are direct costs. There are two types of indirect costs.irect costs are directly attributable to the object. In construction, the costs of materials, labor, equipment, etc., and all directly involved efforts or expenses for the cost object are direct costs.
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- Direct costs are expenditures that can be identified specifically with a particular sponsored project or. that can be directly assigned to such activities with a high degree of accuracy.
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- Indirect costs are costs that are not directly accountable to a cost object (such as a particular project, facility, function or product). Indirect costs may be either fixed or variable.Indirect costs include administration, personnel and security costs. These are those costs which are not directly related to production.Some indirect costs may be overhead.ndirect costs may be either fixed or variable. Indirect costs include administration, personnel and security costs. These are those costs which are not directly related to production. Some indirect costs may be overhead.
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- An indirect cost pool is a logical grouping of indirect. costs with a similar relationship to the cost objectives. For example, engineering overhead pools include indirect. costs that are associated with engineering effort. Likewise, manufacturing overhead pools include indirect.
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Lesson 7: Cost and Cost Components Indirect costs: also referred to as soft costs, include expenditures other than labor and material necessary to make the equipment ready for its intended use. Components In valuing personal property and fixtures, it is important to be aware of all cost components.
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INDIRECT CORRELATION • INDIRECT CORRELATION (noun). The noun INDIRECT CORRELATION has 1 sense: 1. a correlation in which large values of one variable are associated with small values of the other; the correlation coefficient is between 0 and -1. Familiarity information: INDIRECT CORRELATION used as a noun is very rare. Dictionary entry details.
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- Even if direct taxes did not have to be apportioned, the tax. must still be applied to the states, not to the individual people. This means that all federal. taxes currently in effect are in the class of indirect taxes, including the “income tax”. An indirect tax is one laid on taxable activities. Some activities are taxable and some are. not. This kind of tax is usually passed on to consumers.
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- s1e1 Pilot (American Dad!) February 5, 2005. Stan Smith uses his CIA skills to help 13-year-old son Steve win class president and the heart of the hottest girl in class, Lisa Silver. But when being class president makes Steve mad with power, Stan must jump in to save the day.
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indirect labor Indirect labor costs are not readily identifiable with a specific task or work order. They are termed indirect costs and are charged to overhead accounts. Use indirect labor in a sentence. At our plant most of our employees are direct labor and a smaller portion are indirect labor that are not directly involved in the production process.
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NFWF's Indirect Cost Policy for Applicants If the Indirect Cost Rate Proposal is not approved by the cognizant agency during the NFWF sponsored project’s period of performance, the elected indirect cost rate of 10% of MTDC (Uniform Guidance definition) will apply and no indirect costs in excess of 10% of such MTDC can be recovered.
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Deficit Spending: Definition & History Deficit spending is the practice of either printing, borrowing, or spending money beyond what is available in a budget. The word is usually used when referring to federal budgets. Think of deficit spending like borrowing on credit, but on a much larger scale. In fact, the principles of deficit spending are generally the same.
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What Is Discretionary Spending? Quick Answer. Discretionary spending is the part of the federal budget that goes through the appropriations process, which lawmakers have an option to change. This is comprised of non-defense discretionary funding and defense discretionary funding.
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Indirect Cost: Definition and Example These fringe benefits are applied to direct salaries charged to projects either through a fringe benefit rate or as part of an overhead/indirect cost rate. Therefore, fringe benefits treated as indirect costs should not be included as a direct cost in the Personnel category of the budget form of the grant application or on a contract proposal. The indirect cost base or bases (that is, the denominator(s) of the fraction producing a rate) should be selected so as to permit an equitable distribution of indirect costs to the benefiting cost objectives.
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- Thus, indirect overhead is not directly related to a company's production of goods or provision of services to customers. Examples of indirect overhead costs are: 1  Accounting, auditing, and legal expenses. 2  Administrative salaries. 3  Information technology. 4  Office expenses. 5  Postage and printing. 6  Research and development.
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- Direct procurement spend is a significant component of Cost of Goods Sold (COGS), in excess of 30% of total costs for most infrastructure and manufacturing firms.
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What is a Budgeted Indirect-Cost Rate? The budgeted indirect cost rate formula is calculated by dividing the budgeted annual indirect costs by the budgeted annual quantity of the cost allocation base. This is a mouthful, but it’s pretty simple.
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Indirect Cost Explained Indirect costs are all costs that are not identifiable or incurred for the benefit of one cost objective. A good example is a manager who oversees many contracts where it would be difficult to identify his/her time to each project.
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Definitions &Translations In computer programming, indirection is the ability to reference something using a name, reference, or container instead of the value itself. The most common form of indirection is the act of manipulating a value through its memory address. For example, accessing a variable through the use of a pointer. A stored pointer that exists to provide a reference to an object by double indirection is called an indirection node.
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Managerial ACT ch. two cant be easily traced to a cost object. common cost (indirect) cost incurred to support many cost objects but cant be traced to them individually. adventure holidays sells thousands of tour packages each month through its branches. A branch manager's salary would be a _____________ of generating a particular lead. indirect cost.
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- Indirect activity allocation is a useful method for allocating activity costs from sender cost centers to receiver cost centers based on activity reported in the receiver cost centers.hen it is not easy to determine the activity quantity to post in the sender cost center, the indirect activity allocation cycle is used to determine both the sender activity quantities and the allocated quantities based solely on receiver activity posted in the receiver cost center.
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Indirect Cost: Definition and Example Indirect Costs (definition extracted from FAR Part 31.2) An indirect cost is any cost not directly identified with a single, final cost objective, but identified with two or more final cost objectives or an intermediate cost objective. It is not subject to treatment as a direct cost.
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- The business case for e-Procurement and indirect spends is clear: indirect spending is a large portion of the overall corporate buy, and the ability to improve the bottom line through cost reduction. dwarfs the impact on revenue that is needed to achieve the same. result.
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indirect tax indirect tax-a tax levied on goods or services rather than on persons or organizations. revenue enhancement, tax, taxation-charge against a citizen's person or property or activity for the support of government. hidden tax-a tax paid unwittingly by the consumer (such as ad valorem taxes).
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Definition of 'indirect object' countable noun. An indirect object is an object that is used with a transitive verb to indicate who benefits from an action or gets something as a result. For example, in 'She gave him her address.', 'him' is the indirect object. Compare direct object.