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Industrial and Manufacturing

Industrial & Manufacturing accounting refers to the analysis, evaluation, control, and calculation of data that is obtained during the manufacturing and production processes. Harbins helps in reducing the variability that can be inherent in the data collected during the manufacturing process. There are two broad categories under which industrial & manufacturing accounting is grouped: Material & Logistic, and Production. All the accounting and finance activities performed in the manufacturing sector involve material and logistic-related activities. Hence, material and logistic accounting, finance, and bookkeeping are also included under the term industrial & manufacturing accounting.

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The two major components of industrial & manufacturing accounting are the material & logistic accounting, and production accounting respectively. In material & logistic accounting, Harbins mainly concerns itself with the collection and interpretation of data that is required for the planning and controlling of production. We analyse this data to help your company to estimate your production capacity, as well as the stocks required for meeting the demands of your customers. Production accounting on the other hand is primarily concerned with assessing the performance of the different productions in terms of quality, quantity, and timing.

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Both material and logistic-related accounting and finance are necessary in every organization, but a lot of importance is given to it in organizations that operate on a very tight budget. In such cases, material & logistic accounting help in reducing the costs incurred on production, as well as in storing raw materials that are required in production. Harbins is where can find these solutions for your organization, ensuring a smooth and faster way for you to conduct business, while also saving up on huge expenditures.