DIRECT MATERIAL Definition

DIRECT MATERIAL is the cost of raw materials and components that can easily and economically be identified either with individual units of production or with a responsibility center.

Learn new Accounting Terms

EKUELE is a currency of Equatorial Guinea.

GASB 34 is Government Accounting Standards Board Statement 34. GASB 34 provides the broadest changes in government accounting practices since the inception of Generally Accepted Accounting Practice (GAAP) for governmental agencies dating back to the 1930s. The principal change that GASB 34 requires of government entities is the reporting of the value of capital assets on Consolidated Annual Financial Reports (CAFR).

Suggest a Term