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| Name | How to Calculate the Total Cost of Ownership |
| Video Uploader | Video From Edspira |
| Upload Date | This Video Uploaded At 26-09-2021 15:00:02 |
| Video Discription | When a company is thinking about purchasing something (e.g., equipment), it should look at the total cost of ownership, not just the purchase price. The total cost of ownership includes costs like: • Delivery/installation • Training/support • Repairs/maintenance • Energy/fuel • Insurance • Environmental/disposal costs • As well as the purchase price The total cost of ownership is thus the sum of the purchase price and all the direct or indirect costs of ownership. total cost of ownership = purchase price + direct and indirect costs of ownership The total cost of ownership is sometimes called the “whole-life cost” because it includes all costs that occur throughout an asset’s life cycle, from the initial purchase to the disposal of the asset. When it comes to procurement, it’s tempting to fixate on the purchase price because it’s clearly visible. But an asset with a cheap initial purchase price might be more expensive to own than a competing product in the long-run. — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/ * https://michaelmclaughlin.com [2PSOnon67HQ] |
| Category | Education |
| Tags | managerial accounting | cost accounting | management accounting | edspira | edspira accounting | cost of ownership | total cost of ownership | purchasing equipment | small business tips | whole-life cost | whole life cost | michael mclaughlin | total cost of ownership in procurement |
