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Non-Integrated and Integrated Cost Accounting System

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Non-Integrated Cost Accounting System (गैर-एकीकृत लागत लेखांकन विधि):-

  • When two separate set of book of accounts are maintained to record the cost and financial transactions then it is known as Non-Integrated Cost Accounting System.
  • जब लागत एवं वित्तीय सौदों के लिए दो पृथक लेखा पुस्तकें बनायीं जाती है तो इसे गैर-एकीकृत लागत लेखांकन विधि कहते है।
  • It is also known as "Non-Integral Cost Accounting System" or "Cost Ledger Accounting System."
  • इसे  "Non-Integral Cost Accounting System" या "Cost Ledger Accounting System" के नाम से भी जाना जाता है।
  • Principal Accounts under Non-integrated cost accounting system are as under:-
    • Cost Ledger Control Account or General Ledger Adjustment Account
    • Stores Ledger control Account
    • Wages Control Account
    • Manufacturing/Production/Works/Factory Overhead Control Account
    • Work-in-process Control Account
    • Administrative Overhead Control Account
    • Finished Goods Control Account
    • Selling and Distribution Control Account
    • Cost of Sales Accounts
    • Costing Profit and Loss Account
    • Overhead Adjustment Account

Integrated Cost Accounting System (एकीकृत लागत लेखांकन विधि):-

  • When only one set of book of accounts is maintained to record the cost and financial related transactions then it is known as Integrated Cost Accounting System.
  • जब लागत एवं वित्तीय सौदों को केवल एक ही लेखा पुस्तक में दर्ज किया जाता है तो इसे एकीकृत लागत लेखांकन विधि कहते है।
    • Advantages (लाभ) :
    • No need for reconciliation statement (समाधान विवरण की कोई आवश्यकता नहीं होती है)
    • Less effort (कम प्रयास)
    • Less time consuming (कम समाय लगता है)
  • It is also known as "Integral Cost Accounting System."
  • इसे "Integral Cost Accounting System" के नाम से भी जाना जाता है । 
Note: - There is no need to prepare "Cost Leger Control Account" or "General Ledger Adjustment Account". (एकीकृत लागत लेखांकन में “Cost Leger Control Account" y "General Ledger Adjustment Account" बनाने की आवश्यकता नहीं होती है।)

Reconciliation Statement (समाधान विवरण):-

  • It will be prepared when Non-integrated cost accounting system followed.
  • ये विवरण तब बनाया जब गैर-एकीकृत लागत लेखांकन विधि का प्रयोग किया जाता है।
  • This will reconcile the Profit from Cost Records and Financial Records.
  • ये लागत एवं वित्तीय लाभों के मिलान के लिए बनाया जाता है।

Causes of Differences in Financial and Cost Accounts:-

  1. Items included in Financial Accounts only:-
    • Interest on Loan or Debentures;
    • Expenses and discounts on issue of shares or debentures;
    • Loss by fire;
    • Loss on sale of Fixed Assets
    • Goodwill w/off;
    • Preliminary Expenses w/off;
    • Income tax;
    • Donation or Subscriptions;
    • Expenses of the company's share transfer office;
    • Interest received from Investments;
    • Dividends Received
    • Profit on sale of Investments or Fixed Assets;
    • Dividends received;
    • Transfer fees received;
    • Rent Received etc.
  2. Items included in Financial Accounts only:-
    • Notional Rent
    • Notional Interest on Capital
    • Notional Salary to Owner
    • Notional Depreciation