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Is Accounts Standardization Important

13 Dec
Account standardization

Is Accounts Standardization Important

Account is in which there is a data of profit, loss, sales and purchases.  It shows that how much the company has spent and how much it had earned in form of profit loss. So there would be someone who is accountable for these things and CA (Chartered Accountant) is perfect for this job. He compiles all the accounts in standard and that work is Account standardization.

Standardization is a work of agreements to which all involved members in an organization must ensure that all processes linked with this manufacturing of a good of a service are performed within set premises. This ensures that the end product has consistent quality and that any conclusions made are comparable with all other equivalent items in the same class.

Account standardization:

Account standardization will help because all the data will be in a Accounts order which help other employees to get guidance for overcoming the losses which company has faced due to certain reason and it will also provide information that if we improve this things then what will be the effect of it whether it will be in continues profit or major loss.

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