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Corporate Officer
Person within a corporation
appointed to a senior position (e.g., president,
treasurer, board chairperson).
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Corporation
A registered company or group of
people that is distinct and separate from the
owners of a business and recognized by law
as having the authority to enter into contracts,
pay debts, borrow money, etc., on behalf of
the business.
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Correction (Prison) Industries
An organization
established to sell/market products
manufactured, fabricated, or assembled by
incarcerated persons in penal systems
operated by a public entity.
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Cost
The actual expenses incurred in delivering
a product, service, or construction; includes
both direct and indirect costs, but does not
include fee or profit for the supplier.
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Cost (Pricing) Data
Factual information about the
actual or estimated costs of labor, materials,
overhead, and other cost elements that are
expected to be incurred in performance of a
contract.
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Cost Analysis
A process that breaks down a cost
summary into individual parts and studies
each part to determine the costs actually
incurred or estimated costs expected to be
incurred. See Also: Cost Breakdown.
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Cost and Freight (C & F)
A quoted price that
includes both the cost of an item and
transportation charges to the destination;
commonly used when shipping via ocean
freight.
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Cost Avoidance
Action that avoids incurring
costs in the future, also known as "soft
savings," and, therefore, not reflected in
financial statements.
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Cost Breakdown
A process that separates the
total cost of a good or service into individual
parts and assigns a portion of the total cost to
each individual component, (e.g., overhead
and profit margin). See also: Cost Analysis.
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Cost Containment
Reduction of expenses or
prevention of unnecessary spending to
remain within budget or to increase profits.
