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The need for project accounting arose for a specialised industry from the character of projects being handled as independent temporary individualised entities put in place for the goal of providing a number of company goods [3]. As the character of each and every project can be diverse to the organization-as-standard pursuits operate through the organization; existent administration accounting and fiscal accounting abilities had been recognised as inadequate to accurately advise around the treatment method and money reporting of the project. Therefore, a new discipline emerged within the accounting sphere – project accounting[1].

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