KAIZEN COSTING Definition

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KAIZEN COSTING means "improvements in small steps" (i.e., continuous improvement). It was developed in Japan by Yashuhiro Monden. Kaizen Costing is applied to product that it already under production.

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PITI is an acronym for Principal, Interest, Taxes and Insurance when dealing with property mortgages.

BOOKKEEPING is the art, practice, or labor involved in the systematic recording of the transactions affecting a business.

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