WHEN is the reconciliation statement of Cost and Financial accounts not required?

CA Intermediate · Cost and Management Accounting · MTP · May 2024
WHEN is the reconciliation statement of Cost and Financial accounts not required?

Suggested Answer and Working Notes:

When the Cost and Financial Accounts are integrated - there is no need to have a separate reconciliation statement between the two sets of accounts. Integration means that the same set of accounts fulfil the requirement of both i.e., Cost and Financial Accounts.

Topics: Cost Accounting Systems

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