Different Between cost, price, and value

how to differentiate cost, price, and value ?

let take a look right here

the cost is the ingredient to make the roti canai in example : flour , curry , dhal, margarine, chillies and many more.... while on the other hand the price can be explained by this situation, you can get roti canai at RM 0.80 - RM 1.20 but you will have to pay RM 5 - RM 6 when you eat it at hotel or high class restaurant ..... while on the other hand value can be explained like this, the reasonable price for roti canai is around this range RM 0.80 - RM 1.20... that is the value....

Types Of Property

Types Of Property in Malaysia :

1. Residential : Detached @ Bungalow , Terrace , Semi detached @ Semi-D , Flat , Apartment , Condominium , Town House , Cluster , Zero lot Bungalow
2. Agricultural : small holding - house + land , small holding - vacant land , Plantation (40 hectare and above)
3. Commercial 
4. Industrial 

Principle Of Accounting

What is accounting?

1. Accounting is an information and measurement system that identifies, record and communicate business activities. in other word language of business

• Process 

1. identification - transaction
2. recording - record - classify - summarize
3. communication - prepare accounting report (analyze and interpret for user)

Business Entity Concept 

• Economic units considered separate and distinct from its owner (example: separate owner money from company money)

Business Transaction 

• Event, occurance, or condition that need to be recorded, usually in monetary term. (monetary = something that related to currency)

Asset 

• resources owned by a business @ thing of value that are owned

Equities

• Right or claims to properties (asset) (right of ownership toward the properties) (asset = equities) 
• Type Of Equities :

1. liabilities = debt, things owed 
2. owner equities or capital = residual claim

Accounting Equation 

1. + = +
2. - = -
3. +- = 0
4. 0 = +-
5. asset = equities 
6. asset = liabilities + owner equities 
7. asset = liabilities + capital

Revenue

• (increase owner equity)
• asset coming into the business for work performed  
• Against Expense

Expense

• (decrease owner equities)
• sacrifice made in order to earn revenue 

Accrual Basis

• recorded when business transaction happen

Cash Basis

• recorded when transaction perfectly done

What is the difference between bungalow and zero lot bungalow?

how to differentiate between bungalow and zero lot bungalow ?

let's take a look at the picture below (i believe picture are going to be more efficient to explain this concept and term)!!!

ZERO LOT BUNGALOW

BUNGALOW


bungalow is a based house that built alone by itself meanwhile zero lot bungalow is bungalow that built together like semi-d but not linked with each other.....

Introduction To Real Estate - The Concept Of Value, Price, and Cost (Definition)

Definition of Value

1. economic concept refering to be the monetary relationship between goods and services available for purchase and those who buy and sell them.
2. value is not a fact , but an estimate of the likely price to be pad for goods and service at a given time in accordance with a particular definition of value.
3. the economic concept of value reflects a market's view of the benefits that accrue to one who owns the goods or receives the services as of date of valuation. 

DEFINITION OF PRICE

1. Amount asked, offered or paid for goods or service.
2. Sale price is an historical fact whether it is publicly disclosed or confidential.
3. Because of the financial capabilities, motivations, or special interests of a given buyer and / or seller, the price paid for goods may or may not have any relation to the value which may be ascribed to the goods or services by other.

DEFINITION OF COST

1. Price paid for goods/services or the amount required to create or produce the goods or service.
2. when that good or srevices has been completed, it is an historical fact.
3. the price paid for a good or srvice become its cost to the buyer.