Accounting - Benchmarks

Benchmarks

This may be a target internally determined by a business or an industry
benchmark gained by the collection of data from a number of similar firms.

Benchmarks are also known as yardsticks. They may be based on comparisons
and so may include comparisons with:

* previous reports

* budgeted reports

* industry averages

* reports of similar firms

* opportunity cost - the value of the next best alternative

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