Energy Accounting, is like financial accounting – The difference being that everyone can count the money, but energy measurements, require instruments, and the knowledge of the instruments. In financial accounting, use of different currencies require only conversion rates. In energy accounting, expert knowledge is required for setting up the conversion rates.As no financial management can be effective without proper financial accounting, Energy management can never be effective without proper energy accounting. SECO can help any industry set up a proper energy accounting system which can form the basis for all energy conservation ideas, implementation, measurement & verification and for technology development. SECO’s energy accounting does not demand installation of more instruments than what industries want to measure. Start energy accounting with minimal instrumentation, and go on with addition of instruments, where additional measurements are deemed necessary to justify an investment, and is economical. The thumb Rule of SECO for investment in instrumentation is 1% per year of the cost of the Energy used per year, till the measurement is adequate. In two to three years, it is like to reach the required level, and in five years, it can be the most comprehensive measurement. In each case of investment in instrument, the secondary justification can be 5% of the GAP in estimated and measured values. Though initial setting up and getting this going in the initial years would be a difficult task, It would make the implementing industry the most competitive in the long run. Any industry which believes that it should know how much energy should be used, and how much is actually used day after day and not once in a while- must have an energy accounting system.