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Activity Based Costing (ABC) is a relatively new management accounting system that identifies the activities a firm conducts and assign overhead costs to products based on actual activity. ABC methodology is more reliable to represent the true cost of the production contrary t...

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As a business owner, it is your responsibility to keep accurate records of your company's financial status. For an accurate depiction of a company's financial situation, these principles are applied at each stage of the accounting process. There are five basic accounting princ...

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