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Essay text:
Therefore, usually banks allocate their costs from the back office to the front office.
Basically back office means the internal operations related to cost and management in any organization or bank, which is not visible to the public. It is the internal cost allocation policies that are not accessible to common public. And the front office is that part of policies that are made known to the public. Where allocation of cost means to assign and then reassign cost to one or more activities from the back office to the front office and from the front office to the back office. It seems to be a complicated and technical process...
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