NATURAL ACCOUNTS Definition

NATURAL ACCOUNTS in the Chart of Accounts are user defined accounts for the activities associated with the accounting entity that capture data at the transaction level. Natural accounts exist for a range of Assets, Liabilities, Equity accounts, Revenues, and Expenses.

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INVENTORY VARIANCE see VARIANCE.

VALUES is the beliefs of a person, corporation or social group in which they have an emotional investment (either for or against something), e.g. corporations formalize their ideals through publication of 'Corporate Values'.

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