ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
From the web's #1 provider of financial analysis / ratio analysis
JOINT COSTS Definition
JOINT COSTS are costs incurred to produce a certain amount of two or more products where the cost of producing one product cannot be logically isolated and cost allocation is arbitrary. Simplified, they are the costs of a single production process that yields multiple products simultaneously.
Learn new Accounting Terms
TEST COUNT, in inventory audits, is where a test count is inventory counted by the auditors to check the client's count.
AGING OF RECEIVABLES see ACCOUNT AGING.