ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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MATERIAL CONTROL Definition
MATERIAL CONTROL normally refers to the department responsible for the proactive control of materials within a manufacturing environment: Do procedures exist for storage, release, and movement of material? Are materials in stores identified and controlled? Are in-process materials identified and controlled? Are materials in inspection identified and controlled? Do storage areas and facilities provide control to protect material from degradation? Are nonconforming items identified, segregated and controlled?
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CURRENT ASSETS are those assets of a company that are reasonably expected to be realized in cash, or sold, or consumed during the normal operating cycle of the business (usually one year). Such assets include cash, accounts receivable and money due usually within one year, short-term investments, US government bonds, inventories, and prepaid expenses.
HELD is a situation where a security is temporarily not available for trading or subject to a trade halt. Market Makers are not allowed to display quotes of held securities.
