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.
Motion in Central Force Fields tutorial all along with the key concepts of Vector Analysis, Vector Position, Gradient, Divergence and Curl, Central - Conservative Forces, Properties of Central Force Fields, Work Performed by Conservative force fields
www.tutorsglobe.com offers substitution of the hydroxyl group homework help, assignment help, online tutoring assistance, organic chemistry solutions by online qualified tutor's help.
tutorsglobe.com recessive epistasis assignment help-homework help by online types of epistasis tutors
www.tutorsglobe.com offer nuclear chemistry homework help, nuclear chemistry assignment help, nuclear chemistry solutions, online tutoring and instant answers for nuclear chemistry problems by online chemistry tutors.
www.tutorsglobe.com offers Collection and Classification of Overheads homework help, assignment help, case study, writing homework help, online tutoring assistance by accounting tutors.
Thermosetting Plastics are Aminos (Urea formaldehyde resins, Melamine, Phenolics) Heat and solvent resistant. Non-conductors of electricity. Employed like a Electrical appliance handles, TV and Radio cabinets.
tutorsglobe.com significance of cost of capital assignment help-homework help by online cost of capital tutors
tutorsglobe.com ionisation potential assignment help-homework help by online chemical periodicity tutors
tutorsglobe.com chemical properties of halogen family assignment help-homework help by online halogen family tutors
tutorsglobe.com cost concepts and categorization assignment help-homework help by online cost and revenue tutors
Cleavage-morula and Blastocyst formation tutorial all along with the key concepts of From fertilization to cleavage, Pattern of embryonic cleavage, Blastula formation, nucleated cells, blastomeres, mitosis promoting factor, DNA synthesis and growth stages
Cost Reduction Techniques - Budgetary Control, Standard Costing, Inventory Control, Job Study, Works Study and Motion Study, Job Evaluation and Merit Rating, Value Analysis, Reduction in variety of products.
tutorsglobe.com waste management assignment help-homework help by online environmental science tutors
tutorsglobe.com economics and sociology assignment help-homework help by online positive or normative economics tutors
www.tutorsglobe.com offers Abstraction homework help, assignment help, case study, writing homework help, online tutoring assistance by computer science tutors.
1951005
Questions Asked
3689
Tutors
1447200
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!