ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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UNIT-OF-WORK-PERFORMED METHOD Definition
UNIT-OF-WORK-PERFORMED METHOD is where revenue and cost of sales are recorded as units of work are delivered. This is most suitable to production-type contracts where many units of a product are produced in a continuous process, e.g. automobile manufacture.
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OPERATING CASH FLOW (OCF) is the amount used to represent the money moving through a company as a result of its operations, as distinct from its purely financial transactions.
OVERHEAD RATE is calculated by totaling all your expenses for one year, excluding labor and materials, and then divide this number by your total cost of labor and materials.