Why Project Accounting is Vital to the Success of Your Business
published by Journyx
The knowledge worker-dependent businesses of today, though, are relatively new and for the first time since accounting was invented by Babylonian farmers thousands of years ago, nobody knows their costs. If you don’t know your costs, you don’t know where you’re profitable. And if you don’t know where you’re profitable, you can’t steer your company to success. Project Accounting is how we understand production costs in a knowledge economy.
This white paper discusses:
- The biggest impediments to success in project accounting, and the remedies for them;
- When you should decide to implement project accounting
- A five-step process to reach time-tracking Nirvana;
- The future of project accounting.
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