Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Integrated Ledger System
An integrated account ledger system, which has a number of features that may be viewed as preferable to the interlocking ledger system. In present decade there has in fact been a move towards greater integration of accounting information needs in a single unified system an integrated ledger system, that an integrated ledger system liars the given advantages as:
i. There is merely one set of accounting records that is kept along with enough analysis to enable the preparation of cost and financial accounting statements and to provide the control mechanisms undertaken via management and financial accountants.
ii. There is only one loss and profit account. This removes the possibility of senior management frustration and confusion from the production of two seemingly different profit figures.
iii. There are no uses to reconcile financial and cost accounting records.
iv.There is a removal of the duplication of effort and cost that arises while separate ledger is maintained.
v. The integrated ledger system fits in along with the use of computer based information database and a systems approach to information availability and employ.
Entries in the Integrated Ledger System
The integrated ledger system encloses most of the entries in the interlocking ledger system. The financial ledger control account is no longer in need. The range of liability and asset accounts essential for financial control reasons and for the preparation of financial accounting statements will incorporate the entries that would have appeared in the financial ledger control account.
1. Why are marginal costs increasing? Why are they not always constant? You may give examples in some industries or just state two reasons at least.
The file A1Q1 contains data for the percentage change in the price of 50 shares selected at random from the Australian Stock Exchange. The data refer to the percentage change in th
Q. Show the Break-even charts? Refers graphically profit and losses at different levels of sales volume achieved. When sales revenue is greater than total cost it m
You are assisting the accountant on the preparation of the final accounts of a business with a year-end of 31 December. A trial balance has been drawn up and a suspense account ope
ADVANTAGES OF COST ACCOUNTING 1. It helps in efficient decision making. 2. It assists in cost drop. 3. It is useful in obsession of selling price
XYZ Company is a family-owned bicycle manufacturing company located in Stow, Ohio. Until recently,it had maintained slow but steady growth in producing and marketing its only prod
(a) (i) Conversion Value Conversion Value = Conversion Ratio * Stock Price = 22*$40 = $880 (ii) Market Conversion Price Market Conversion Price =
Below find production and sales information for Herrestad Company. We will use this same company for all the SLPs in this course. Product information
What are the dependent and independent variables in Cost Accounting??
Explain and illustrate with your own example the operating cycle of a merchandiser. Explain and illustrate the differences between a multiple-step income statement and a single
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd