Question

What are the objectives of keeping branch accounting ?

Answer 1

The objectives of keeping the branch accounts acceptable to all business are (i) To know the profit or loss of each branch separately. (ii) To ascertain the financial position of each branch on a particular date. ... (v) To know the profitability of each branch and type of business for expansion of the business.

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Answer 2

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 .