base year

base year(base date) The first of a series of years in an index. The value of the index in that year is often denoted by the number 100, enabling percentage rises (or falls) to be seen at a glance. For example, if a price index indicates that the current value is 195, this will only be meaningful if it is compared to an earlier figure. This may be written: 195 (base year 1987 = 100), making it clear that there has been a 95% increase in prices since 1987.

• standard direct materials cost
• standard direct materials price
• standard fixed overhead cost
• standard hour
• Standard Industrial Classification
• standardization strategy
• standardized marketing mix
• standard marginal costing
• standard materials usage
• standard mix
• standard operating profit
• standard overhead cost
• standard performance
• standard production cost
• standard purchase price
• standard rate
• standard selling price
• standard time
• standard variable overhead cost
• standby agreement
• standby credit
• standing order
• standstill agreement
• start-up
• start-up costs