ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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TOP-DOWN BUDGETING Definition
TOP-DOWN BUDGETING is where budgets are created by starting from the highest level working towards the bottom using parametric relationships. A monetary value is placed on an individual unit (product, service, materials, and labor hour). An estimate of the number of units required is then converted to currency by multiplying the quantity of units by the unit price.
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SUPERANNUATION FUND see PENSION FUND.
SECURED TRANSACTION is the right to repossess goods as security for payment of a debt.