A branch is a unit and a department is the sub unit in an organization. when we talk in terms of a branch we mean the accounting methodologies in respect of the unit consisting of all the departments working under it.
Canada has the Senate and the House of Commons, which is the Legislative branch of goverment; while the US has the Senate and the House of Represenatives. They are basiclly the same thing. They are just called different. The Judiual branch is the same for both countries.The Executive branch has the Queen, the General Governor, the Prime Minister, and the Cabinet. The US has the President, the Cabinet, and the Vice President.AnswerProbably the most important difference between the Canadian and American governments is that Canada follows a parliamentary system while the US follows a presidential one. This means that, in Canada, the executive branch is responsible to the legislature, while in the US, the executive branch is independent of the legislature. In Canada, if the legislature disagrees with what the executive is doing, then, potentially after trying to regain support in the legislature through a general election, the executive has to step down. Because of this, the executive branch is chosen based on the composition of the legislature after a general election. In the US, the President is elected separately, and he and his Cabinet serve their terms until the next presidential election.
The IRS (Internal Revenue Service) is part of the Federal government. It is an agency of the Treasury Department, which is part of the Executive Branch of the US Federal government.
The Olive Branch Petition wanted to stay under british laws, and the Common sense wanted full independence.
Biopsychological psychology is a branch of psychology concerned with the links between biology and behavior.
They both have an executive, legislative and judicial branch.
The process of keeping track of all transactions within a corporation is known as " branch accounting." Branch accounting is crucial since it allows you to see how much money your firm has and what they're doing with it. Branch accounting is also useful for calculating taxes because it may demonstrate where profits come from. Source Url: Norwayoffice.biz Intercompany accounting, on the other hand, deals with cross-border transactions between corporations. If Company A purchases goods from Company B in another country, for example, Company A would.
What are the differences between analytic and synthetic cubism?
branch is subdivision of a company it is a geographical classification while a department is a classification based on activities(goods). a branch activity can be classifiede based on goods
LocationOne of the primary differences in branch accounting and departmental accounting stems from how the business is structured. Businesses with their own accounting departments use departmental accounting when the accounting process takes place in a central location but is compartmentalized because the business consists of various departments. Each department might have some level of autonomy and might undergo separate audits. Branch accounting is used in industries such as banking where the business consists of branches that are generally independent of one another, even though they are all owned by a parent company or organization. CostOne way branch accounting and departmental accounting differ is the amount of manpower required to perform the jobs. With departmental accounting, most of the accounting procedures can be performed in-house and might be able to use an individual accountant or a small team that oversees the accounting for all departments. B.K. Banerjee, author of "Financial Accounting: Concepts, Analyses, Methods and Uses," notes that maintaining separate books for each department can be expensive. Instead, many companies opt for one group of accountants to maintain all of the books. This cost consideration can also affect businesses using branch accounting because they might need multiple accountants to maintain books in separate branch locations. ResponsibilityThe level of responsibility and oversight is greater with branch accounting than it is with departmental accounting. Lack of centralization requires that each branch keep accurate records of its own. However, this also requires the parent company or organization to keep a watchful eye over the accountant and the branch organization. In departmental accounting, these actions occur within the central organization. Although the need to keep watch over each department remains, it can be easier to do so because it occurs within the parent company. ProfitabilityWhile branch and departmental accounting both help create a financial portrait of the company, with branch accounting, the profitability of each branch can be equally important. Companies can make adjustments as necessary for each branch of their organization. Adjustments can be made within individual departments as well, but profitability is seen within the larger picture of the parent organization's profits, rather than on an individual level.
branch accounting income statement
advantages of branch accounting
Followings are the main differences between branch and department:1. Branches are separated from the main organization. Departments are attached with the main organization under a single roof.2. Branches are the outcome of tough competition and expansion of business. Departments are the result of fast human life.3. Branches are geographically separated. Departments are not separated rather existed under a same roof.4. Branches are of different types like dependent, independent and foreign. There is no such classification in department because all are common under the same roof.5. Allocation of branch common expenses does not arise. Allocation of departmental common expenses is a tough job.6. To find out the net result of the organization, the reconciliation of different branch account is a main job. In departmental accounting, no reconciliation is necessary because there is a central account division.
any kind of difference between branch office and corporate office
there is no difference between Mathematics and Arithmetic because Arithmetic is a branch of mathematics. there is no difference between Mathematics and Arithmetic because Arithmetic is a branch of mathematics.
Although it uses some mathematics, accounting is a branch of economics.
a branch is still connected to the tree and a stick is not
Dependent Branch Independent Branch Foreign Branch