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[1] This consists of the observe of creating economical reviews specially made to observe the economic development of projects, that may then be employed by supervisors to assist project management.[2]
Project accounting is usually utilized by federal government contractors, exactly where the ability to account for costs by contract (and often deal line product, or CLIN) is usually a prerequisite for interim payments.[5]
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Project accounting is a specialised sort of accounting that corresponds to the at any time-evolving wants of project shipping and delivery, which helps adequately track, report and analyse economic benefits and implications.
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