Meaning of actual cost
Cost sustained in fact, on the basis of costs incurred, as opposed to a standard, predetermined, forecasted, or Estimated Cost. Actual Costs to date include costs of Direct Labor, Direct Material, and other direct charges, specifically identified to appropriate Cost Accounts as incurred, and Overhead costs and general Administrative Expenses reasonably allocated to cost accounts. See also Actuals and Actual Cost of Work Performed (ACWP).
Source: http://www.sceaonline.org/prof_dev/CEBoK-Glossary.xls
Web site to visit: http://www.sceaonline.org/
Author of the text: not indicated on the source document of the above text
If you are the author of the text above and you not agree to share your knowledge for teaching, research, scholarship (for fair use as indicated in the United States copyrigh low) please send us an e-mail and we will remove your text quickly. Fair use is a limitation and exception to the exclusive right granted by copyright law to the author of a creative work. In United States copyright law, fair use is a doctrine that permits limited use of copyrighted material without acquiring permission from the rights holders. Examples of fair use include commentary, search engines, criticism, news reporting, research, teaching, library archiving and scholarship. It provides for the legal, unlicensed citation or incorporation of copyrighted material in another author's work under a four-factor balancing test. (source: http://en.wikipedia.org/wiki/Fair_use)
The following texts are the property of their respective authors and we thank them for giving us the opportunity to share for free to students, teachers and users of the Web their texts will used only for illustrative educational and scientific purposes only.
All the information in our site are given for nonprofit educational purposes
The information of medicine and health contained in the site are of a general nature and purpose which is purely informative and for this reason may not replace in any case, the council of a doctor or a qualified entity legally to the profession.
www.riassuntini.com