FUNDED DEPRECIATION ACCOUNT Definition

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FUNDED DEPRECIATION ACCOUNT is a reserve setup to cover the replacement cost of those capital assets covered within the depreciation schedule.

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TOP-DOWN BUDGETING is where budgets are created by starting from the highest level working towards the bottom using parametric relationships. A monetary value is placed on an individual unit (product, service, materials, and labor hour). An estimate of the number of units required is then converted to currency by multiplying the quantity of units by the unit price.

SHILLING is a currency of Biafra, Kenya, Somaliland, Tanzania, Uganda, England, and Isle of Man.

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