AISG Definition

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AISG is Accountants International Study Group.

Learn new Accounting Terms

COLLATERAL NOTE is a note secured by collateral. Same as secured note.

MATERIAL CONTROL normally refers to the department responsible for the proactive control of materials within a manufacturing environment: Do procedures exist for storage, release, and movement of material? Are materials in stores identified and controlled? Are in-process materials identified and controlled? Are materials in inspection identified and controlled? Do storage areas and facilities provide control to protect material from degradation? Are nonconforming items identified, segregated and controlled?

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