The upcoming discussion will update you about the difference between non-integral system and integral system. Difference # Non-Integral System: 1. Two separate sets of account books are maintained—one to record cost transactions and the other to record financial transactions. 2. Cost Ledger is maintained. 3. Control Accounts are opened in the Cost Ledger. 4. There are two figures of profit [...]
In this article we will discuss about Non-Integral System:- 1. Meaning of Non-Integral System 2. Basic Features of Non-Integral System 3. Ledgers 4. Practical Problems. Meaning of Non-Integral System: Non-integral system is a system of accounting under which two separate sets of account books are maintained—one for cost accounts and the other for financial accounts. In other words, cost accounts [...]
In this article we will discuss about Integral Accounting System:- 1. Meaning of Integral System 2. Basic Features of Integral System 3. Essential Prerequisites 4. Practical Problems. Meaning of Integral System: Integral or Integrated system is a system of accounting under which only one set of account books is maintained to record both the Cost and Financial transactions. The system [...]