About Alicia Keys. Alicia Keys can be described as a modern-day Renaissance woman. A 12-time Grammy Award-winning singer/songwriter/producer, Keys is also an accomplished actress, a New York Times best-selling author, an entrepreneur and a powerful force in the world of philanthropy and in the global fight against HIV and AIDS.
Implicit costs can also be thought of as intangible costs that are not easily accounted for. For example, the time and effort that an owner puts into the maintenance of the company, rather than working on expansion, can be viewed as an implicit cost of running the business.
â¢ Implicit cost is considered as the cost that has occurred on an enterprise but is not initially reflected and reported as a direct expenditure. â¢ Explicit cost is the cost that is solidly reported based on numbers and statistics. This actual cost is very detailed in terms of the figures that were generated. â¢ Implicit cost is an anticipated loss of revenue even before the whole transaction pushed through.