ABSORBED COSTS Definition

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ABSORBED COSTS incorporates both variable and fixed costs.

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CONTINENTAL MODEL is an accounting model. There are other accounting systems which differ from the U.S. accounting model. U.S. GAAP and FASB standards are not the only accounting principles used internationally; for example, many countries reverse the U.S. debit and credit system. Many countries with high rates of inflation account for inflation in financial reports much more than the U.S. does. Also, for any company operating internationally there is the currency exchange translation problem when consolidating financial statements.

COMMERCIAL ATTACHE is a business and trade expert on the staff of a consulate or embassy. They are responsible for promoting exports of their countrys goods and are an excellent source of help.

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