NATURAL ACCOUNTS Definition

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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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