BILL OF MATERIALS Definition

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BILL OF MATERIALS (BOM) is a listing of all the assemblies, sub-assemblies, parts, and raw materials that are needed to produce one unit of a finished product. Each finished product has its own bill of materials.

Learn new Accounting Terms

BASIC is Beginners All-Purpose Symbolic Instruction Code.

SCOPE PARAGRAPH, in accounting, is the paragraph in the audit report that explains the scope of the engagement.

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