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December 8, 2006, Newsletter Issue #42: What is Project Accounting?
1
Tip of the Week
Project accounting refers to the function of accounting for particular projects. This usually includes information about time spent on a project, employee costs, cost of tools and other monies associated with completing the project.
Effective project accounting is a part of ensuring successful project management because it enables companies to achieve operational excellence through effective control of employees, projects, and budgets.
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