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the financial accounts should be the same
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What is an accounting system?
The interlocking accounting is a system where the cost and financial accounts are maintained independently of each other, and in the cost account no attempt is made a aseparate record of the financial account transactiona
What are the advantages and disadvantages of using pastel as an accounting system?
not easy to understand it
What are advantages and disadvantages of branch accounting?
advantages of branch accounting
What are Advantages of accounting for price level changes?
advantages of price level accounting
Advantages and disadvantages of using manual accounting system accounting?
An advantage to using manual accounting systems is that there is a written record of transactions. A disadvantage to manual accounting is the risk of fire destroying records or a risk of human error.
What is the Difference between integrated and interlocking accounting system?
Integrated system is one which combines the cost accounting and financial accounting functions in one system of ledger accounts while an interlocking system has a cost ledger for the cost accounting function and a financial ledger for the financial accounting function.
What is an interlocking accounting system?
The interlocking accounting is a system where the cost and financial accounts are maintained independently of each other, and in the cost account no attempt is made a aseparate record of the financial account transactiona
What is an accounting system?
The interlocking accounting is a system where the cost and financial accounts are maintained independently of each other, and in the cost account no attempt is made a aseparate record of the financial account transactiona
What are the advantages and disadvantages of using pastel as an accounting system?
not easy to understand it
What are advantages and disadvantages of branch accounting?
advantages of branch accounting
Compare and contrast interlocking and integrated cost accounting systems?
Interlocking and integrated cost accounting systems are two approaches to managing and analyzing costs in a business or organization. While both systems are designed to provide insights into the cost structure of a business, there are some important differences between them. Interlocking Cost Accounting Systems: Interlocking cost accounting systems are characterized by a decentralized approach to cost management. Under this approach, cost accounting is divided into several different sub-systems that are often independent of one another. Each sub-system may be managed by a different department or function within the organization. For example, one sub-system may be used to track labor costs, while another sub-system may be used to track material costs. The advantage of interlocking cost accounting systems is that they allow for greater specialization and control over specific cost elements. However, the disadvantage is that they can be more complex to manage and can lead to duplication of effort or inconsistency in reporting. Integrated Cost Accounting Systems: Integrated cost accounting systems are characterized by a centralized approach to cost management. Under this approach, cost accounting is viewed as a single, integrated system that covers all cost elements of the business. This system is typically managed by a central department or function within the organization. The advantage of integrated cost accounting systems is that they provide a comprehensive and consistent view of the cost structure of the business. This can help managers to identify areas for improvement and make more informed decisions. However, the disadvantage is that they can be less flexible and may not allow for the same degree of specialization as interlocking systems. In summary, interlocking cost accounting systems are decentralized and allow for greater specialization, while integrated cost accounting systems are centralized and provide a more comprehensive view of costs. The choice between the two systems depends on the needs of the organization and the specific goals of cost management.
What are Advantages of accounting for price level changes?
advantages of price level accounting
Advantages and disadvantages of using manual accounting system accounting?
An advantage to using manual accounting systems is that there is a written record of transactions. A disadvantage to manual accounting is the risk of fire destroying records or a risk of human error.
What are advantages and disadvantage of harmonisation of international accounting standards?
what are advantages and disadvantages of harmonisation of accounting standards
Identify advantages of imprest system?
There are many advantages of imprest system. One is that the cash is limited so the chances of losing money are limited. This type helps in managing and accounting for petty cash.
Advantages and disadvantages of cost accounting?
cost accounting advantage & disadvantage
Advantages of historical cost accounting?
strength of historical cost accounting
