ACCRUAL CONCEPT Definition

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ACCRUAL CONCEPT see ACCRUAL BASIS OF ACCOUNTING.

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STRATEGIC ASSET, in relation to the assets held by a legal entity, means an asset or group of assets that the entity needs to retain if the entity is to maintain the entitys capacity to achieve or promote any outcome that the entity determines to be important to the current or future well-being of the entity.

VALUE ADDED is the difference, at each stage of production or the provisioning of a service, between the price of a product or service and all materials or activities paid for to produce the product or provide the service.

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