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1.Ascertainment of operating result: Branch accounting is ascertain operating result of each Branch. 2.Ascertainment of financial position: Branch accounting is required for periodical ascertainment of financial position(i.e. position of assets and liabilities) of each branch. 3.Fulfillment of legal requirements: Branch accounting is needed to fulfill the requirement of the Companies Act in respect of Branch Audit as per Section 228. 4.Ascertainment of return on investment: Branch accounting helps in ascertain of return on investment of each Branch. 5.Causes of success or failure: Branch accounting provides information about Branch functioning in detail and thus helps Head Office to arrive for the reason of success or failure of a each Branch.
Rahul Dubey
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∙ 14y agoIn what respect? Do you mean purpose?
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Accounting and its functional objectives?
There are many objectives to accounting. A systematic accounting system will should have the following objectives: to maintain cash account balances, to detect fraud, and maintain ledger account balances.
What are the primary objectives of the accounting function in an organization?
The primary objectives of the accounting function in an organization are to process financial information and to prepare financial statements at the end of the accounting period.
What are the objectives of government accounting?
to fulfill the legal requirement
What are the objectives of the International Accounting Standard Board?
help students
What is objectives of Accounting standard?
They help accountants to be objective in their decision making.
Accounting and its functional objectives?
There are many objectives to accounting. A systematic accounting system will should have the following objectives: to maintain cash account balances, to detect fraud, and maintain ledger account balances.
What are the primary objectives of the accounting function in an organization?
The primary objectives of the accounting function in an organization are to process financial information and to prepare financial statements at the end of the accounting period.
What is the Cost and cost accounting also give out objectives of cost accounting?
answer
What are the objectives of material control in cost accounting?
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What are the objectives of government accounting?
to fulfill the legal requirement
What are the objectives of public sector accounting?
Standards of consistency, quality, information sharing between Accountants, and transparency in reporting are the base objectives of public sectors accounting.
What are the objectives of the International Accounting Standard Board?
help students
What is objectives of Accounting standard?
They help accountants to be objective in their decision making.
Why have you chosen accounting?
When you are asked this question you should focus on what makes accounting important to you. It is a good ideal to link your passion to the objectives of the organization.
What body has defined the purpose of financial accounting and reporting?
The basic foundation of governmental financial accounting and reporting in the United States was established by the Governmental Accounting Standards Boards (GASB) in its "Objectives of Financial Reporting,"
Features and objectives of responsibility accounting?
The feature and objective of responsible accounting is to improve the financial planning of individuals and businesses. Planning by accountants is based on reports conducted.
In accounting what does conceptual framework mean?
The Conceptual Framework has been described as a constitution, a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribe the nature, function, and limit of financial accounting and reporting.- Intermediate accounting , Sixth EditionBySpicelandSepeNelson
