Practical standards

From CNM Wiki
Jump to: navigation, search

Practical standards are standards based on currently attainable conditions that include allowances for normal amounts of waste and inefficiency. Also known as attainable standards.

Definitions

According to Managerial Accounting by Braun, Tietz (5th edition),

Practical standards. Standards based on currently attainable conditions that include allowances for normal amounts of waste and inefficiency. Also known as attainable standards.