PRODUCT is: a. the end result of the manufacturing process, b. commodities offered for sale, or c. an artifact that has been created by someone or some process.
CAPITAL EMPLOYED is the value of the assets that contribute to a companys ability to generate revenue, i.e., fixed assets plus current assets minus current liabilities.
ACCOUNTING AND REVIEW SERVICES are governed by official pronouncements covering compilation and review engagements. Compilation is presenting in the form of financial statements information that is the representation of management (owners) without expressing assurance. Review is inquiry and analytical procedures to provide the accountant a basis for expressing limited assurance that there are no material modifications that should be made to the statements for them to be in conformity with U.S. generally accepted accounting principles.
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