The following are the main advantages of integral accounting:
- This system tends to coordinate the functions of different selections of the accounts department since all efforts are integrated and directed towards achievement of one aim that is providing a high level of efficiency.
- The accounting procedures can be simplified and the system can be centralized with the object of achieving a greater control over the organization.
- The system creates conditions which are eminently suitable for the introduction of mechanized accounting.
- There is no possibility of overlooking any expense under the system.
- As cost accounts are posted straight from the books of original entry, there is no delay in obtaining the data.
- There is automatic check on the correctness of the cost data. It ensures that all legitimate expenditure is included in Cost accounts and reliable and proved data is provided to the management for its decisions’.
- Integrated accounting widens the outlook of the accountant.
- It can be maintained according to convenience as it need not be statutorily maintained.