GLOSSARY

Accountable—The actions of a person who must ultimately deliver on a commitment is said to be accountable.

Accounts payable—The debts owed by a business, usually in relation to goods or services, inventory, or supplies.

Accounts receivable—The money owed to a business by its customers for products and services delivered to a customer.

Activity-based costing—A technique that logically allocates overhead to products based on actual usage of factory facilities or machinery.

Actuals—A term that is used to describe actual revenue earned or expenses incurred. In variance analysis, an actual is compared to the budget.

Allocation—The apportionment or assignment of a business function’s expense to an income statement (P&L).

Amortization—

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