FUND THEORY Definition

FUND THEORY views the organization as a series of funds or sub-funds represented by various services or departments.

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UNQUALIFIED OPINION is an independent auditors opinion that a companys financial statements comply with accepted accounting procedures. See QUALIFIED OPINION.

CAPITALIZED LABOR means all direct costs of labor that can be identified or associated with and are properly allocable to the construction, modification, or installation of specific items of capital assets and, as such, can thereby be written down over time via a depreciation or amortization schedule as capitalized costs.

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