FINANCIAL REPORTING FRAMEWORK Definition

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FINANCIAL REPORTING FRAMEWORK is a set of criteria used to determine measurement, recognition, presentation, and disclosure of all material items appearing in the financial statements.

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PLANT ASSET is a non-current physical asset applicable to manufacturing activities.

PROMOTIONAL ALLOWANCES are offered by manufacturers to support the additional promotional activities undertaken by channel members (retailers) on their behalf, e.g. discounts given as part of promotional programs, such as when products are put on sale to increase traffic in a retail store.

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