- Branch Accounting
- An accounting system in which separate accounts are maintained for each branch of a corporate entity or organization. The primary objectives of branch accounting are better accountability and control, since profitability and efficiency can be closely tracked at the branch level.
Branch accounting may involve added expenses for an organization in terms of accounting and infrastructure. This is because it may be necessary to appoint branch accountants to ensure accurate financial reporting and compliance with head office procedures and processes.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
branch accounting — An accounting system in which each department or branch of a business is established as a separate cost centre or budget centre. The net profit per branch may be added together to arrive at the profit for the whole business. Branch accounts may… … Accounting dictionary
branch accounting — An accounting system in which each department or branch of a business is established as a separate cost centre or budget centre The net profit per branch may be added together to arrive at the profit for the whole business. Branch accounts may be … Big dictionary of business and management
accounting — /euh kown ting/, n. 1. the theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.… … Universalium
Accounting Conservatism — A branch of accounting that requires a high degree of verification before making a legal claim to any profit. Accounting conservatism will recognize all probable losses as they are discovered and most expenditures as they are incurred. Revenue… … Investment dictionary
Branch Office — A location, other than the main office, where business is conducted. Most branch offices are comprised of smaller divisions of different aspects of the company such as human resources, marketing, accounting, etc. A branch office will typically… … Investment dictionary
branch — An operational or administrative unit of an organization. Many *multi national corporations have branches around the world, and *control over remote operating units of this nature present particular challenges to auditors. Organizational *risks… … Auditor's dictionary
Private branch exchange — A private branch exchange (PBX) is a telephone exchange that serves a particular business or office, as opposed to one that a common carrier or telephone company operates for many businesses or for the general public. PBXs are also referred to as … Wikipedia
Comparison of accounting software — The following comparison of accounting software documents the various features and differences between different professional accounting software and personal finance packages. Contents 1 Free and open source software 2 Proprietary software 3… … Wikipedia
Positive accounting — is the branch of academic research in accounting that seeks to explain and predict actual accounting practices. This contrasts with normative accounting, that seeks to derive and prescribe optimal accounting standards.Positive accounting can be… … Wikipedia
Differences between management accounting and financial accounting — The structure of accounting as documented by the International Federation of Accountants The differences between management accounting and financial accounting include: Management accounting provides information to people within an… … Wikipedia