Integrated Accounting System
In the integrated accounting system, various set of accounts within cost accounting and financial accounting systems are not maintained. The accounts are integrated and just a single set of accounts are maintained. This allows a firm to eliminate separate Profit and Loss Accounts within financial accounting and cost accounting systems and just one Profit and Loss Account is ready. So there is no question of two separate amounts of profits being disclosed from the two dissimilar set of books. The requirement for reconciliation of profits displayed through cost accounts and so financial accounts is eliminated.
Meaning and Advantages
As described above, within this system of preparing accounts, financial and cost accounts are integrated. Other words, a single book keeping system that consists of both financial and cost accounts is termed as integral accounting system. The requirement for reconciliation among the profits depicted through cost accounts and financial accounts is eliminated totally because only one set of books of accounts is maintained. The advantages of this system are as follows:
ADVANTAGES FROM INTEGRATED ACCOUNTING SYSTEM
The advantages of integrated accounting system are as follows:
A. because only one set of accounting records is kept, the requirement for reconciliation between the profits shown through the two records is eliminated.
B. The duplication of work is eliminated, so the cost of operating this system is reduced.
C. This technique is simple to understand and simple to operate. Not necessary complications are eliminated.
D. Cost data can be presented promptly and regularly.
E. There is a cross checking of several figures in cost and financial accounts. This makes sure accuracy of figures of cost and financial data.
F. the make Use of mechanized accounting methods can be made.
Latest technology based Cost Accounting Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Integrated Accounting System homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Integrated Accounting System, project ideas and tutorials. We provide email based Integrated Accounting System homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Integrated Accounting System. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Cost Accounting homework help and assignment help services. They use their experience, as they have solved thousands of the cost accounting assignments, which may help you to solve your complex issues of Integrated Accounting System. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com energy resources assignment help-homework help by online natural resources tutors
Number system and codes tutorial all along with the key concepts of Binary number system, least significant bit, Binary to Decimal Conversion, Decimal to Binary Conversion, Octal number system, Octal to Decimal Conversion, Decimal to Octal Conversion, Octal to Binary Conversion, Hexadecimal number system
TutorsGlobe.com Metals-General Characteristics Assignment Help-Homework Help by Online Access Chemistry Tutors
tutorsglobe.com properties of lead assignment help-homework help by online lead tutors
Fm detector is termed as discriminator. Fm detector is a balanced double diode demodulator. Fm detector splits audio signal from frequency modulated IF signal.
Theoretical Perspectives of motivation tutorial all along with the key concepts of Instinct Theory, Sociobiological Perspective, Drive Theories, Incentive Theory, Maslow's Need Hierarchy, Maslow's Levels, Emotions and Theories of Emotion
tutorsglobe.com forensics assignment help-homework help by online humanities tutors
tutorsglobe.com hydrophytes-mesophytes-xerophytes assignment help-homework help by online environmental biology tutors
tutorsglobe.com nitrogen cycle assignment help-homework help by online biogeochemical cycle tutors
tutorsglobe.com atopy assignment help-homework help by online hypersensitivity-anaphylaxsis tutors
free biology lecture notes, tutorials offer you to promote the understanding of the many various aspects of biology, and is recommended to be used in conjunction with the dictionary to assist with biological terminology
rectify the fault in fm receiver - noisy reception - first of all switch on the receiver, hearing the programme with noisy sound.
tutorsglobe.com research management essay writing assignment help-homework help by online essay writing tutors
tutorsglobe.com immunization assignment help-homework help by online prophylaxis of diphtheria tutors
www.tutorsglobe.com offers Preparation for Budgetary Control homework help, assignment help, case study, writing homework help, online tutoring assistance by accounting tutors.
1934638
Questions Asked
3689
Tutors
1487243
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!