Production budget
A production budget estimates the number of units a company must produce to meet sales demands and maintain inventory levels. It considers sales forecasts, beginning inventory, and desired ending inventory. It’s crucial for planning raw materials, labour, and overhead, making it a central part of manufacturing operations.
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Purchase Order
A purchase order is a formal document issued by a buyer to a supplier, confirming the purchase of goods or…
Petty Cash
Petty cash is a small fund kept on hand for minor or incidental expenses, such as office supplies or travel…
Provision
A provision is an estimated liability recorded when a business expects a future obligation from a past event but the…
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