Question

what is departmental account??

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Answer 1

Answer:

department account means a department having a account it is department account

Explanation:

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Answer 2

Answer:

Department refers to activity centre (profit or cost centre) usually located in the same roof but carrying distinct type of

activities.

Departmental Accounting:

Department accounting or departmental accounting is a system of financial accounting which is used in the organizations

whose all works are done through their different departments or departmental stores. Departmental accounts are

prepared separately for each department and trial balance will also be prepared. Departmental P&L Account is prepared

to ascertain the profit or loss of each department separately and at the end of the year it is transferred to General profit

and loss account of the whole organisation.

Explanation:

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