Question: What Is Difference Between Branch And Department?

What are the features of independent branch?

Characteristics of an Independent Branch:Such Branch gets goods from Head Office and from outside parties.

It prepares its own Trial Balance, Trading and Profit, and Loss Account and Balance Sheet.There may be inter-branch transactions.

A combined Balance Sheet of branch and H.O is prepared by the branch..

What do you mean by department branches?

A branch office is a location, other than the main office, where a business is conducted. Most branch offices consist of smaller divisions of different aspects of the company such as human resources, marketing, and accounting.

What are the advantages of departmental accounts?

Advantages of Departmental Accounting:Individual results of each department can know which helps to compare the performances among all the departments, i.e., the trading results can compare.Departmental accounts help to understand or locate the success, failure, rates of profit, etc.More items…

WHAT IS department with example?

The definition of a department is a specific division, building, organization or field of knowledge. An example of a department is a faculty group, building and program dedicated to the subject of English in a college. noun.

What is another word for department?

Synonyms of departmentagency,arm,branch,bureau,desk,division,office,service.

What is Unrealised profit in departmental accounts?

Market based transfer price − Where the goods are transferred at selling price from one department to another is known as market based price. Therefore, unrealized profit on the goods sold is debited from the selling department in the form of a stock reserve for both the opening and the closing stock.

What are departmental expenses?

Other Departmental Expenses means the product of (a) actual expenses related to the generation of Other Revenue as determined from the most recent operating statement for the Property at the time of determination expressed as a dollar amount per occupied room (based on actual occupancy over the applicable period) and ( …

What are the different types of branches?

DIFFERENT TYPES OF BRANCHESBranch Account System or Debtors System.Stock and Debtors System.Final Accounts System.Wholesale Branch.

What is the main branch of a tree called?

Trees have three main parts – the leaves, the trunk and the roots. The upper part of the tree with the branches is called the crown. Needles or leaves are the part of the tree that make sugar from air and water.

What are the 7 branches of accounting?

Branches of Accounting:Financial Accounting.Management Accounting.Cost Accounting.Tax Accounting.Auditing.Forensic Accounting.Fiduciary Accounting.Fund Accounting.More items…•

When a branch is called a dependent branch?

Dependent Branch: When the policies and administration of a branch are totally controlled by the head office, who also maintains its accounts, the branch is called a dependent branch.

What are the advantages and disadvantages of departmental store?

Usually a departmental store offers the following advantages:(i) Shopping convenience:(ii) Wide Choice:(iii) Economies of large scale:(iv) Liberal services:(v) Central Location:(vi) Economy and Advertising:(vii) Use of Specialised Services:(viii) Large Volume of Sales:More items…

How do you describe a branch?

Branch, bough, limb refer to divisions of a tree. Branch is general, meaning either a large or a small division. Bough refers only to the larger branches: a bough loaded with apples. A limb is a large primary division of a tree trunk or of a bough: to climb out on a limb.

Whats is a secretary?

The definition of a secretary is a person who does administrative work such as making appointments and sending letters, or is an official who is in charge of a government department. … An officer who keeps records, takes minutes of the meetings, and answers correspondence, as for a company.

What are the 4 types of accounting?

Though different professional accounting sources may divide accounting careers into different categories, the four types listed here reflect the accounting roles commonly available throughout the profession. These four branches include corporate, public, government, and forensic accounting.

What do you mean by dependent branch?

Dependent Branch: A branch which is dependent upon Head Office mainly for “Goods and Cash”. Books of accounts relating to such branch also will be maintained by Head Office. Features of Dependent Branch: Branch receives goods from Head Office. … Branch normally makes cash sales.

What are the 2 branches of accounting?

In this article, we’ll cover:Financial Accounting.Cost Accounting.Auditing.Managerial Accounting.Accounting Information Systems.Tax Accounting.Forensic Accounting.Fiduciary Accounting.

What is the difference between dependent branch and independent branch?

Answer. An independent branch can operate separately from any other branch and is not reliant on anyone for the results. 1. Dependent branch accounting :- When the policies and administration of a branch are totally controlled by the head office who also maintains its accounts the branch is called dependent branch.

What is the purpose of a branch?

A branch represents an independent line of development. Branches serve as an abstraction for the edit/stage/commit process. You can think of them as a way to request a brand new working directory, staging area, and project history.

What is a department?

noun. a distinct part of anything arranged in divisions; a division of a complex whole or organized system. one of the principal branches of a governmental organization: the sanitation department.

What is the end of a branch called?

Large branches are known as boughs and small branches are known as twigs. The term “twig” often refers to a terminus, while “bough” refers only to branches coming directly from the trunk.