INTEGRATED ACCOUNTING

5 Benefits of integrated accounting.

Integrated Accounting is a system in which the accounts are integrated and only a single set of accounts are maintained for Cost & Financial records. It avoids maintenance of Accounts under cost accounting & financial accounting. This enables a firm to eliminate separate Profit & Loss Accounts under financial accounting and cost accounting systems & only one Profit & Loss … Read the rest

Integrated (integral) accounting system – meaning.

Integrated Accounting is a system in which the accounts are integrated and only a single set of accounts are maintained for Cost and Financial records. It avoids maintenance of Accounts under cost accounting & financial accounting. This enables a firm to eliminate separate Profit and Loss Accounts under financial accounting and cost accounting systems and only one Profit and Loss … Read the rest