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Software is a collection of programs and data that tell a computer how to perform specific tasks. Software often includes associated software documentation. [1] This is in contrast to hardware, from which the system is built and which actually performs the work.
The accounting for long term contracts using the percentage of completion method is an exception to the basic realization principle. This method is used wherein the revenues are determined based on the costs incurred so far. The percentage of completion method is used when: Measure progress toward completion.
Field inventory management, commonly known as inventory management, is the task of understanding the stock mix of a company and the handling of the different demands placed on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable ...
Asset and liability management (often abbreviated ALM) is the practice of managing financial risks that arise due to mismatches between the assets and liabilities as part of an investment strategy in financial accounting . ALM sits between risk management and strategic planning. It is focused on a long-term perspective rather than mitigating ...
Computer-aided audit tools. Computer-assisted audit tool (CAATs) or computer-assisted audit tools and techniques (CAATTs) is a growing field within the IT audit profession. CAATs is the practice of using computers to automate the IT audit processes.
The Accredited Standards Committee X12 (also known as ASC X12) is a standards organization.Chartered by the American National Standards Institute (ANSI) in 1979, it develops and maintains the X12 Electronic data interchange (EDI) and Context Inspired Component Architecture (CICA) standards along with XML schemas which drive business processes globally.
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