What is the meaning of allocation of duties?
1 the act of allocating or the state of being allocated. 2 a part that is allocated; share. 3 (Accounting) (Brit) a system of dividing overhead expenses between the various departments of a business.
What is the concept of allocation?
An allocation is an amount of something, especially money, that is given to a particular person or used for a particular purpose. The allocation of something is the decision that it should be given to a particular person or used for a particular purpose.
What is the difference between allotment and allocation?
As nouns the difference between allocation and allotment is that allocation is the process or procedure for allocating things, especially money or other resources while allotment is the act of allotting; assignment.
What is allocation in finance?
An allocation is the process of shifting overhead costs to cost objects, using a rational basis of allotment. Allocations are most commonly used to assign costs to produced goods, which then appear in the financial statements of a business in either the cost of goods sold or the inventory asset.
What does allocation mean in economics?
Originally a term from economics, an allocation refers to the distribution of existing resources to different purposes. The aim is to use resources efficiently so that optimum results can be achieved even with scarce resources, in order to remain competitive in the long term.
What does allocation mean on a job application?
Allocation is defined as the act of being portioned out for a certain reason. The definition of allocation is a process in business and accounting. An example of allocation is when a company portions out their expenses and attributes a certain amount to each division.
What is allocation in accounting?
When to use allocate vs Allot?
“Allocate” means to set aside for a specific purpose, to fix the place of, to locate. “Allot” means to divide or distribute by share, to appropriate for a specific purpose, to set apart or dedicate.
What is allocation in business?
Definition: Allocations divide costs between different departments or activities within a company. For instance, overhead costs such as the rent and utilities are often allocated to the company’s operating units. Determining accruals and allocations nearly always entails making assumptions and estimates.
What is allocation in accounting and example?
Cost allocation is the distribution of one cost across multiple entities, business units, or cost centers. An example is when health insurance premiums are paid by the main corporate office but allocated to different branches or departments.
What is the meaning of the word allocate?
: to divide and give out (something) for a special reason or to particular people, companies, etc. allocate funds among charities Money from the sale of the house was allocated to each of the children. We need to determine the best way to allocate our resources.
Which is the best definition of an allocator?
1. allocator – a person with authority to allot or deal out or apportion. distributor. authority – (usually plural) persons who exercise (administrative) control over others; “the authorities have issued a curfew”. Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
What does it mean to allocate stock dividends?
The allocation of stock dividends generally means that such dividends will be added to the shares of stock held as principal, thereby increasing its size. West’s Encyclopedia of American Law, edition 2.