AUTHORITATIVE PRONOUNCEMENT Definition

AUTHORITATIVE PRONOUNCEMENT is a formal declaration of opinion sanctioned by established authority.

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WORKING CAPITAL DAYS OF NET SALES measures how many days of net revenue are tied up in working capital. It is calculated: Working Capital Days of Net Sales = Working Capital / Net Revenue * 365. Low values tend to show problems in ability to support sales while high values may indicate under-capitalization problems.

ACCOUNTING MEASUREMENT AND DISCLOSURE is the concepts of measurement and information disclosure required for decision making.

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