0
What is the Difference between integrated and interlocking accounting system?
Wiki User
∙ 11y ago
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.
Wiki User
∙ 11y ago
Yvonne Maina
Add your answer:
Earn +20 pts
What is the difference between an app and an extension?
An app can be used independently whereas an extension has to be integrated in a website before it is used.
Difference between traditional and latest DBMS package?
Traditional FPS and DBMS both are different from each other. In DBMS there is security of data as well as integrated data while this is not in FPS.
What is the difference between a major and a concentration in college?
Your major is your core studies like Business (general) and the concentration could be International Business, Finance, Accounting (specific). Another example is majoring in Education with concentration on Reading or Foreign Language.
What is difference between dynamic and volumetric compressor?
what is difference between dynamic and volumatic compressor
What is 232 in RS232 and MAX232?
The difference between max232 and rs232 is the voltage levels of the rs232 are high. In order to reduce those voltage means to convert those voltage levels to TTL logic levels we use max232 integrated chip which is a dual driver/ receiver.
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.
The difference between accounting nations and accounting commerce?
the difference between accounting nations and accounting commerce
What is the difference between manual accounting and tally accounting?
what is the difference between manual accounting and tally accounting?
The difference between accounting policies and accounting bases?
The difference between accounting and auditing?"
Difference between social accounting and social audit?
Difference between social accounting and social audit?
What is the difference between Accounting Postulates and Accounting Concepts?
yes
What is the difference between profit making accounting and not for profit making accounting?
The difference between profit making accounting and not for profit making accounting is, that question should answer itself! 8^0
In accounting profit is the difference between what?
difference between revenue and costs
What is the difference between accounting concepts and conventions of accounting?
bad site
What is the difference between What is the difference between financial accounting and management accounting?
Financial accounting is used to present the performance and financial statements to third parties while management accounting is used for company's internal working purpose.
A basic difference between managerial accounting and financial accounting is that managerial accounting?
One basic difference between managerial accounting and financial accounting is that managerial accounting is used internally instead of externally for investors. Managers use managerial accounting to determine what level of output is appropriate for their departments.
Is there a difference between an MBA in accounting and an MS in accounting?
The master's in accounting is specific to accounting. The MBA is particular to business administration and all it contains.
