Letter of Engagement
A letter of engagement outlines the scope, terms, and responsibilities of an accounting or auditing engagement between a firm and its client. It sets clear expectations, reduces misunderstandings, and serves as a binding professional agreement.
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Life Cycle Costing
Life cycle costing analyses the total cost of owning, operating, maintaining, and disposing of an asset over its useful life.…
Labour Cost Variance
Labour cost variance measures the difference between the standard labour cost and the actual labour cost incurred. It helps identify…
Loan Covenant
A loan covenant is a condition or restriction set by lenders to ensure borrowers maintain financial discipline. Covenants may require…
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