ACCRUED INTEREST Definition

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ACCRUED INTEREST is interest earned but not paid since the last due date.

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KAIZEN BUDGETING is a budgeting approach that projects costs on the basis of future improvements, rather than current practices and methods. The key point is that the budget cannot be achieved unless improvements are made.

INTERESTED PARTY is any person that has a real and direct interest in any proceeding or action being proposed or taken.

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