GENERAL CONTROLS Definition

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GENERAL CONTROLS, in accounting, are the policies and procedures to assure proper operation of computer systems, including controls over network operations, software acquisition and maintenance, and access security.

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DISCRETIONARY FIXED COST normally has a budgetary life of under one year, i.e. the cost arises from annual budgetary decisions by management in specific fixed cost areas, e.g. R&D or Marketing.

 

UNDISTRIBUTED EARNINGS see RETAINED EARNINGS.

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