OTHER CURRENT ASSETS Definition

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OTHER CURRENT ASSETS relates to any other current assets. Does not include prepaid items.

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FORWARD PREMIUM is when a currency trade forward price is higher than its spot price.

DEPARTMENTAL ACCOUNTING is where departments within an entity have varying degrees of autonomy, but are not usually separated geographically from the rest of the business. They may be concerned with manufacturing or, in the case of a department store, with retailing. Departmental accounts usually include a trading account and may also include a profit and loss account to which overheads are allocated or imputed.

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