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2 Results for Tag: recording

Backflush Costing

Backflush Costing What is 'Backflush Costing' Backflush costing is a product costing system generally used in a just-in-time inventory environment. Backflush costing delays the costing pro

GAAP – Generally Accepted Accounting Principles

GAAP - Generally Accepted Accounting Principles The standard guidelines for financial accounting that apply in all legal bodies are termed as generally accepted accounting principles or GAAP