ACCOUNT Definition

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ACCOUNT is the detailed record of a particular asset, liability, owners equity, revenue or expense.

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NON-DISCRETIONARY means it is mandatory, not up to the individual or company.

CASH FLOW is earnings before depreciation and amortization. Cash flow is calculated as the difference between cash inflows and outflows. Cash flow can be derived from Operating Profit by adjusting for items which do not affect payments (e.g. depreciation) and items (e.g. changes in working capital) which affect payments but are not recorded in Operating Profit.

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