Project Accounting

Project accounting is a specialized branch of accounting that focuses on tracking financial information related to specific projects within a business. Unlike traditional accounting, which looks at the overall financial health of an organization, project accounting monitors costs, revenues, and profits associated with individual projects. This helps organizations understand how much money is being spent, how much is being earned, and whether a project is profitable or not. It provides valuable insights for decision-making, ensuring resources are allocated effectively and projects stay on budget and schedule.