Glossary Terms Flashcards
Direct Cost
expenses tha can be directly atributed to the activivies related to production of yourprimary services, such as salaries, benefits and materials
Fiscal Year
time period that represents one full budget cycle of an organization, can be a calander year
Fixed costs
cost that do not change with the volume of services provided
Full Time Equivalent
ratio of total number of paid hours in a defined period to the number of hours definedas full time
Gross revenue
total revenue before any deductions or allowances are applied
Indirect Costs
expenses that are not directly attributable to the activites related to production of your primary services but support the general operation of the organization
Net profit
amount of revenue that remains after deduction of all expenses
net revenue
total remaining revenue after any deductions
overhead
accounting term representing costs not including direct labor costs
productivity
number of units of care billed or % of time spent in billable activity
units of care
basic unit of measure upon which services are billed
variable costs
cost that change as more or less volume of services provided
