Explain the objectives of branch accounting
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Objectives of branch accounting:
1. to know the profit / loss of each branch separately.
2. to know the cash and goods requirements of each branches
3. to give concrete suggestions for improvement in working
4. to ascertain the financial position of each branch
5. to know the profitability of each branch.
1. to know the profit / loss of each branch separately.
2. to know the cash and goods requirements of each branches
3. to give concrete suggestions for improvement in working
4. to ascertain the financial position of each branch
5. to know the profitability of each branch.
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Objectives of branch accounting :-
♥ To know the profit or loss of each branch separately .
♥ To ascertain the financial position of each branch separately on a particular date .
♥ To know the cash & goods requirements of the various branches .
♥ To calculate commission for payment to the managers .
♥ To give concrete suggestions for the improvement in the working of the various branches .
♥ To meet the requirements of specific enactments as all branches of a company must keep theaccounts for audit purpose .
♥ To evaluate the progress and
performances of each branch .
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