AUTHORIZATION SCHEDULE Definition

AUTHORIZATION SCHEDULE is the guideline under which the subject activity is controlled and authorized. For example, expenditure spending may be controlled by amounts and the managerial level required authorizing or approving a preset trigger amount. As the amount increases over certain preset levels, higher managerial authority is required for approval.

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CLEARED ITEMS are accounts payable documents which have been paid.

FIXED CHARGE RATIO is calculated: total fixed costs/total expenses.

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