ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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AVERAGE COST METHOD Definition
AVERAGE COST METHOD is using a weighted average cost for items in inventory rather than actual cost for each specific item.
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CONTROL RISK is the risk that material error in a balance or transaction class will not be prevented or detected on a timely basis by internal controls.
FINANCIAL POSITION is the status of a firms or individuals assets, liabilities, and equity positions as reflected on its financial statement.