Costs that are common to several products, processes, activities, departments, territories, etc. Often common costs are subsequently allocated to each of the joint products, joint processes, etc. in order to determine the cost of each.
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"I retired a few months ago from a law enforcement career in order to spend more time with my family. Leading up to my retirement, I explored different secondary career options that would be stimulating and rewarding, but also give me the flexibility I wanted. I learned about bookkeeping and really developed an interest for it. From the beginning, I saw AccountingCoach and Mr. Averkamp being highly and widely praised. After taking a few courses, I made the decision to become a bookkeeper. I became a PRO user because I believed it was important to keep track of my studies and use as many resources as possible to absorb the information. I like how the material is presented in a variety of ways (reading, video, flashcards) that reinforce my learning. I also feel it is presented at a good level, in a way that makes it fairly easy to understand without oversimplifying it. AccountingCoach has helped me understand proper accounting skills that can be applied regardless of the accounting system or software I use. I think this is great because although there is a lot of software out there that simplifies bookkeeping, I don't think it should be used without having a thorough understanding of the processes and knowing whether it's working properly. I definitely believe AccountingCoach has helped me become a better, more reliable, and more intelligent bookkeeper." - Mark P.
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