GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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15:29 Apr 7, 2013 |
Romanian to English translations [PRO] Bus/Financial - Finance (general) / auditing | |||||||
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| Selected response from: mihaela. Canada Local time: 04:53 | ||||||
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Summary of answers provided | ||||
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5 +1 | economy/(whether the expenditures were spent) economically |
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4 | thrift |
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4 | economic efficiency |
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Discussion entries: 3 | |
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thrift Explanation: A fi economicos /cumpåtat |
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economy/(whether the expenditures were spent) economically Explanation: http://facilitatedcontrols.com/internal-auditing/spiacoso.sh... At guideline 300.05 the SPPIA states that the primary objective of internal controls is to provide reasonable assurance to managers that: ... 4. Resources are used economically and efficiently; http://www.sfasu.edu/audit/auditing.asp Economical and Efficient Use of Resources Internal auditors should appraise the economy and efficiency with which resources are employed. |
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economic efficiency Explanation: What is the Difference between Efficiency and Effectiveness This definition suggests that efficiency in ODL is concerned not only with resources (materials, labour, equipment and the costs associated with them), but also with what is produced (courses, study materials or student enrolments). It also highlights two different ways of achieving greater efficiency. On the one hand, we can try to reduce the costs incurred to provide the same level of educational services for a given number of students; this is referred to as economic efficiency. On the other hand, the term production efficiency is used to refer to producing more goods or services without incurring additional costs (or, at least, without increasing costs at the same rate). http://wikieducator.org/Cost_and_Financing_in_Open_Schooling... |
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