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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SOP is Statements of Position (within the AICPA or FASB) or Standard Operating Procedure.

CAFR is Comprehensive Annual Financial Report.

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