We all know small spending habits add up, but they might add up more than you think. It’s easy enough to come up with a monthly calculation of how much we spend on a pack of cigarettes or a cup of ...

An opportunity cost is a benefit that an individual or business forgoes because they made one decision instead of another. In other words, opportunity cost could be described with the acronym COMO: ...

Any business tries to use its resources efficiently. No one has unlimited resources, so it's critical that you make smart choices about using what you do have. Those decisions are influenced by what ...

Costing is often a very confusing and frustrating topic with its standard costs, variable costs, fixed costs, marginal costs, budgeted costs, actual costs, relevant costs, etc. Why compound the ...

You know your time is valuable, but how much is it really worth? As you fume about a delayed plane, a late doctor, a long line, is it possible to quantify—to put a concrete number on—the time being ...

Opportunity cost is the highest-valued alternative we give up when we make a choice. Marrying Sue means not marrying Jane. Going to the gym means not reading a book or watching TV. (Although, I’ve ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and ...

Incremental cost is an important calculation for understanding numbers at different levels of scale. The calculation is used to display change in cost as production rises. If you manufacture one unit ...

Opportunity cost is the missed gain from not choosing a better option. Calculating future investment opportunity costs is complex and not always precise. Consider opportunity costs to optimize ...

Simply stated, an opportunity cost is the cost of a missed opportunity. It is the opposite of the benefit that would have been gained had an action, not taken, been taken—the missed opportunity. This ...

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