Neco GCE 2019 F-Acct Essay (3a) Branch Accounting is a sy...

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By   Fizzy King
Sat, 14-Dec-2019, 10:32

Neco GCE 2019 F-Acct Essay (3a) Branch Accounting is a system in which separate books of accounts are maintained for each branch. (3b) (a) It provides an idea about the affairs of each department. (b) It helps to evaluate the performance of each department. (c) It helps to reward the Departmental mangers and staff on the basis of performance (d) it helps in preparing financial statement of a conpany (3c) (i) To know the profit or loss of each branch (ii) To know the financial position of each branch (iii) To control the activities of the branch (iv) To find out the requirement of goods or cash for each branch (v) To provide concrete suggestions for the improvement in the working of different branches (vi) To compare the performance of one branch with that of another branch (vii) To meet the statutory requirements

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