UK Accounting Glossary
A loss arising from a manufacturing or chemical progress in excess of normal loss.
The loss arising from a manufacturing or chemical progress through abnormal wastage, shrinkage, seepage, or spoilage in excess of normal loss.
It may be expressed as a weight or volume or in other units appropriate to the process; It’s usually valued on the same basis as good output.
An abnormal gain is an unexpected surplus of output that may occur if the actual loss is less than anticipated.
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This glossary post was last updated: 27th January 2019.