ACCOUNT-CLASSIFICATION METHOD Definition

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ACCOUNT-CLASSIFICATION METHOD, also called account analysis, is a cost estimation method that requires a study of an account in the general ledger. The experienced analysts use the account information as well as their own judgment to determine how costs will behave in the future.

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OPERATING PROFIT is Gross Profit minus Operating Expenses.

CENTRAL BANK is the major regulatory bank in a country, usually government controlled. The UK central bank is the Bank of England; Germany's is the Bundesbank; in the U.S. it is the Federal Reserve System.

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