APB Definition

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APB is Accounting Principles Board or an Accounting Principles Board opinion (GAAP).

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TRADE DEBTORS represent amounts of money owed by customers who have purchased goods/services from the company.

UNIT-OF-WORK-PERFORMED METHOD is where revenue and cost of sales are recorded as units of work are delivered. This is most suitable to production-type contracts where many units of a product are produced in a continuous process, e.g. automobile manufacture.

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