Non-Integral Accounting System
Meaning
Non-Integral
system is a system of accounting under which two separate sets of account books
are maintained-one to record cost transactions and the other to record
financial transactions. It is also known as non-integrated system or inter
locking system or Cost Ledger Accounting system.
Basic Features of Non-Integral System
Impersonal
Accounts: Cost accounts are concerned with impersonal accounts i.e., real and
nominal accounts
Various
Ledgers: Under this system one main ledger (i.e., cost ledger) and various
subsidiary ledgers are maintained
Comments
Post a Comment