ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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OVERHEAD is the costs associated with providing and maintaining a manufacturing or working environment. For example: renting the building, heating and lighting the work area, supervision costs and maintenance of the facilities. Includes indirect labor and indirect material.
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UNIT-CONTROL SYSTEM is an accounting system used in inventory management that tracks inventory using bin tickets and physical inventory checks.
MUNICIPAL NOTE, also known as a tax-exempt note, is an instrument generally issued with a maturity of one year or less by a municipality or public entity. The interest paid on this instrument is exempt from federal income taxes.