Question

Difference between integrated accounting systems and non integrated accounting systems .

Answer 1

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Difference # Non-Integral System:

Two separate sets of account books are maintained—one to record cost transactions and the other to record financial transactions. ... Control Accounts are opened in the Cost Ledger. 4. There are two figures of profit or loss—one as per cost accounts and another as per financial accounts.

Explanation:

Answer 2

In this question, we are asked to write the difference between integrated and non integrated accounting system.

• Integrated accounting system is a system in which only one set of accounts book is maintained to record both the cash and financial transaction.
• In this both the accounts are merged and then one set of books is maintained.
• Non - Integral system is a accounting system in which two set of  books are maintained one for cost and another for financial accounts.
• Separate ledgers are maintained for cost and financial accounts, the cost accounting is responsible for recording the cost accounts and the financial account is responsible for financial transactions.

PROJECT CODE #SPJ3