CORE PROCESS Definition

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CORE PROCESS is a process with a set of related and interdependent activities that transform an input to a system to an output with added value to a customer. It is the transformation of people, money, materials or information that is the value-added work of the organization. The CORE PROCESSES are those processes by which the organization creates its most value-added and essential transformations for the customers.

Learn new Accounting Terms

INVENTORY SHRINKAGE is a reduction in the physical amount of inventory that is not easily explainable. The most common cause of shrinkage is theft.

ON ACCOUNT is a partial payment made towards satisfaction of a debt.

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