Explicit costs are direct, out-of-pocket expenses that a company incurs during its operations. These costs are easily identifiable and measurable, typically involving monetary transactions. Explicit ...

Implicit and explicit business transactions relate to a company's opportunity costs and cash expenditures. A business incurs explicit costs from a variety of sources, including hiring workers and ...

Running a business demands that you keep a pulse on the financial factors that affect net profits. Two of those factors are accounting costs and economic costs. Although the two terms sound similar ...