Project Accounting - The Basics! White Paper
Project accounting is a must for professional services firms. Why is it so critical? What first comes to mind is the ability to understand profitability and to see what has been charged against the project, but there is so much more that will be explored in this white paper.
Project accounting allows teams to see all the cost, schedule, resources, and financial facets of a project in one place. This is particularly awesome for the project managers. They can see current information such as budget, resources, and actuals and, in addition, look at future budget, resource needs, and forecast.