ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ELECTRONIC DATA INTERCHANGE Definition
ELECTRONIC DATA INTERCHANGE (EDI) is the use of communication between an entity and customers or suppliers to transact business electronically. Purchases, shipping, billing, cash receipts, and cash disbursements can be completed entirely by exchanging electronic messages.
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LINE MANAGEMENT is the administration of the line functions of an organization; administration of activities contributing directly to the organizations output.
STOCK TURNS is the number of times per year that the stock (raw material, wip & finished goods) is turned over in relation to the sales revenue of a given product. Calculation - Stock turns = Sales turnover of products / Value of raw material, wip & finished goods.