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What is Understanding Just-In-Time (JIT) Accounting about?

This document discusses key aspects of just-in-time (JIT) manufacturing and cost accounting. It defines JIT philosophy as obtaining materials just before production to provide finished goods just before sale. The five key elements of a JIT system are: relying on frequent small deliveries from few suppliers, improving product flow lines, reducing setup times, implementing total quality control, and developing a flexible workforce. JIT costing differs from traditional costing in that it combines material and

Author

jade

Language

EN