Branch accounting is an accounting system in which separate accounts are kept for each branch or an organization's operations location. Commonly found in geographically dispersed companies, multinational companies and network operators, it can lead to greater transparency in transactions, cash flow, general financial conditions and the performance of each branch.
- Branch accounting is an accounting system in which separate accounts are kept for each branch or location where an organization operates.
- Technically, a branch account is a temporary or nominal G / L account with a fixed term for the billing period.
- Branch accounting offers maximum accountability and control as profits and performance can be closely monitored everywhere.
- Branch accounting has a long history dating back to the fourteenth century in Venice.
Literal Meanings of Branch Accounting
Meanings of Branch:
The part of a tree that grows from a trunk or a branch.
(Highway or Road) in one or more subdivisions.
To carry or send branches (from a tree or plant).
Sentences of Branch
Sophie is on a branch of a tree eating an apple
This rose is in the branch and spreads upwards
Synonyms of Branch
bough, separate, arm, subdivide, divide, split, bifurcate, fork, go in different directions, limb, offshoot
Meanings of Accounting:
The process or process of maintaining financial accounts.
Sentences of Accounting
Investigation of false accounting claims
Synonyms of Accounting
fiscal matters, money matters, accounting, pecuniary matters, financial affairs, banking, economics, money management, commerce, business, investment