ACCOUNTING DIVERSITY is the recognition that many diverse national and international accounting standards exist in the world.
LMA, among others, is an acronym for Lease Management Agreement, Local Marketing Agreement or Legal Marketing Association.
STANDARD COST is production or operating cost that is carefully predetermined. A standard cost is a target cost that should be attained. The standard cost is compared with the actual cost in order to measure the performance of a given costing department or operation. See STANDARD COST SYSTEM.
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