Just-in-Time (JIT) Inventory
Just-in-Time inventory is a management strategy that reduces waste and storage costs by receiving materials only when needed for production. It demands precise demand forecasting and strong supplier coordination. In accounting, JIT helps lower holding costs and improves cash flow efficiency.
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Judgmental Forecasting
Judgmental forecasting relies on human insight, experience, and intuition to predict future financial outcomes when data is limited. Accountants and…
Journalizing
Journalizing is the process of recording financial transactions chronologically in a company’s journal before posting them to the ledger. Each…
Joint Cost
Joint cost refers to expenses incurred during a process that produces multiple products simultaneously, such as refining crude oil into…
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