BALANCE FORWARD ACCOUNTING is where you maintain a list of charges and payments for each account. To find out the balance at any point in time, you add the charges, add the payments, and then subtract total payments from total charges. A billing statement is sent out every month with any balance carried forward from the previous statement
AVERAGE COST METHOD is using a weighted average cost for items in inventory rather than actual cost for each specific item.
BAISA is the currency of Oman.
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