The primary division of expenditure into materials, labour and expense where the latter represents any expenditure that is not for materials and labour.
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(ITIL Service Strategy) The middle level of category to which costs are assigned in budgeting and accounting. The highest-level category is cost type. For example, a cost type of ‘people’ could have cost elements of payroll, staff benefits, expenses, training, overtime etc. Cost elements can be further broken down to give cost units. For exampl...
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No exact match found.
