Independent branch and foreign branch are made before finalizing the accounts The branch, the profit included in the amount of goods sent is eliminated while Accounts of dependent branch are maintained by headĪnd it is normally prepared to find profit or loss of each branch. Features of Branch Accounting:Ĭomplete set of accounts. BranchĪccounting system is different for dependent, independent and foreign branch. Process through which the accounting system of a branch is maintained. To operate a branch and maintenance of branch accounts are normally appointedįoreign branch. Head office for acquisition of various assets. Legal entity distinct from the head office. Departmental Accounting Problems and Solutions Difference between Departmental Accounts and Branch Accountsġ0. Calculation and Treatment of Unrealized Profit in Departmental Accountingĩ. Allocation of all Expenses and Incomes in Departmental AccountsĨ. Methods and Types of Departmental AccountingĦ. Advantages and Disadvantages of Department Accountsĥ. Purpose or Objectives of Departmental Accountingģ. Meaning of Departmental Accounting SystemĢ. Journal Entries in Case of Independent Branchĭifference between Dependent Branch and Independent Branchġ. Journal Entries in Case of Dependent Branchħ. Advantages and Disadvantages of Branch AccountingĦ. Objectives or Purposes of Branch AccountingĤ. Meaning of Branch Accounting and its Features The head office controls the activities of various branches.Ģ. These various parts orĭivisions may be located in different part of the same city or in differentĬities of the same country or in different countries in the world.
Split their business into certain divisions or parts. Requires to market their products over a larger territory and may generally In order to increase the sales, business houses are Or substantially the same activity as that carried on by head office of the According to the provisions contained in sec2(14) of the Companies Act 2013 it would appear that a branch is any establishment carrying on either the same The word branch is any subordinate division of a business, subsidiary shop, Meaning and Features of Branch and Branch Accounting Branch and Its features
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