Raw material
Raw material is the material or substance that the manufacturing industry further processes in order to create goods and services.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Raw material. Material that is to be processed into a finished product or that changes the quality or characteristics of the product.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
