OPERATING EXPENSES Definition

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OPERATING EXPENSES is all selling and general & administrative expenses. Includes depreciation, but not interest expense.

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MANUFACTURING ACCOUNT is an accounting statement that is an integral part of the final accounts of a manufacturing organization. For any particular period, it indicates, among other things, prime cost of manufacturing, manufacturing overhead, the total manufacturing cost, and the manufacturing costs of finished goods.

INFLATION ACCOUNTING is a system of accounting which, unlike historical cost accounting, takes into account changing prices.

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