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The Use of a Secure File Library and Restrictions on Physical

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The use of a secure file library and restrictions on physical access to data files are control procedures used together to prevent


Definitions:

Accounts Payable

The amount a company owes to its suppliers or creditors for goods or services received that have not yet been paid for.

Work in Process

Products that are in the middle of the production process but are not yet finished.

Material Price Variance

The difference between the actual cost of materials and the standard cost multiplied by the quantity purchased.

Labour Efficiency

The measure of the amount of work achieved by a workforce compared to the effort put in.

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