👉 An itemization is a type of accounting method in which items are broken down into smaller, more manageable units. These units can include products, services, or any other tangible asset that has value to an organization. The goal of itemization is to provide detailed information about each unit of the asset, including its name, description, cost, and any associated expenses. This process helps organizations understand their financial position better by providing a clear picture of how they allocate resources across different categories.