what are the objects of brance accounting

Elearning4more - February 25, 2019
what are the objects of branch accounting

 A branch is a separate segment of a business. In order to increase the sales, business houses are required to market their products over a larger territory and may generally split their business into certain divisions or parts. These various parts or divisions may be located in different part of the same city or in different cities of the same country or in different countries in the world. These are known as branches. The head office controls the activities of various branches. 

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Branch accounting: Branch accounting is the process through which the accounting system of a branch is maintained. 
Objectives of branch accounting: The main objects of branch accounts are dependent on the nature of the business and specific need of a particular branch. The objectives of keeping the branch accounts acceptable to all businesses are as follows.

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1. To know the profit or loss of each branch separately.
2. To ascertain the financial position of each branch separately on a particular date.
3. To know the cash & goods requirements of the various branches.
4. To evaluate the progress and performances of each branch
5. To calculate commission for payment to the managers, if based on the profits of the branch.
6. To give concrete suggestions for the improvement in the working of the various branches.
7. To meet the requirements of specific enactments as all branches of a company must keep the accounts for audit purpose

Also read, GST COMPUTATION & ACCOUNTING, What is GST Credit?

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1 Comments

  1. Nitesh SharmaJanuary 3, 2022 at 7:14 PM

    Nice Blog. Accounting branch is a separate segment of a business. Account business houses are required to market their products over a larger territory and may generally split their business into certain divisions or parts. Good information share for us. i am also using a blog branches of accounting. Visit our website at branches of accounting

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