ACCOUNTING Definition

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ACCOUNTING is primarily a system of measurement and reporting of economic events based upon the accounting equation for the purpose of decision making. Generally, when someone says "accounting" they are referring to the department, activity or individuals involved in the application of the accounting equation.

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ATTRITION a reduction in numbers usually as a result of resignation, retirement, or death.

UNIT-OF-DELIVERY METHOD see UNIT-OF-WORK-PERFORMED METHOD.

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