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Accounting terms explained in a simple way

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Project accounting - What is project accounting?

Definition: Project accounting is the facilitation and integration of key tasks in the management of a large project.

With Project accounting, you can keep track of the hours, related costs and other key tasks related to a specific project.

The hours and related costs that are accrued regarding a project are used as a foundation for e.g. invoicing of the project, or in some cases as cost management regarding tasks on fixed prices.