Accounting Records - Nature and Purpose of Cost Accounting
The quantitative information employed in the management and cost accounting systems can be obtained from with two accounting records sets, usually referred to like ledger systems.
These are as:
a) Interlocking ledger system - it is employ of separate financial and cost ledger systems to meet the individual requirements of management / cost accountants and financial accountants respectively.
b) Integrated ledger system - employ of single unified ledger system, that serves requires of both management and cost accounting and financial accounting. It meets the information desires of management / cost accountants and financial accountants simultaneously.