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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GILT is a bond issued by the UK government. Gilts are equivalent to a U.S. Treasury security.
APB 18 is the Accounting Principles Board Equity Method of Accounting for Investments in Common Stock.