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The need for project accounting arose to be a specialised industry from the character of projects being addressed as individual short term individualised entities put in find out here place for the purpose of offering a number of business products and solutions.[3] As the character of each project could be different to the business enterprise-as-regular activities operate by the enterprise; existent management accounting and economical accounting capabilities ended up recognised as insufficient to properly advise within the remedy and economical reporting of a project. Hence, a different subject emerged within the accounting sphere – project accounting.[one]
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