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The need for project accounting arose as being a specialised discipline from the nature of projects becoming handled as different non permanent individualised entities set up for the goal of providing one or more business products. As the character of every project could be various to the business-as-standard routines run via the business enterprise; existent management accounting and economical accounting skills have been recognised as inadequate to correctly advise over the remedy and economical reporting of the project. That's why, a whole new area emerged in the accounting sphere – project accounting.
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