An integrated system is where cost accounts and financial accounts are combined in one set of accounts such an integrated system has the following advantages
- Cost data can be obtained without delay as cost accounts are posted directly from the books of original entry.
- It facilitates the use of It systems.
- Integrated cost accounting system helps to coordinate the various forms of an organization.
- There is no duplication of work hence saving in clerical cost.
- Information obtained can be used by the management for decision making as well as financial reporting purposes.
- Only one set of accounts is maintained and therefore there would be one profit results hence no need of reconciling
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