An approach to allocating overheads in which indirect costs are loaded or ‘absorbed’ into direct costs related to specific jobs, processes or outputs, using an estimated basis of allocation. See also Total Absorption Costing.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.