DEPARTMENTAL ACCOUNTING Definition

Bookmark and Share

DEPARTMENTAL ACCOUNTING is where departments within an entity have varying degrees of autonomy, but are not usually separated geographically from the rest of the business. They may be concerned with manufacturing or, in the case of a department store, with retailing. Departmental accounts usually include a trading account and may also include a profit and loss account to which overheads are allocated or imputed.

Learn new Accounting Terms

SHAREHOLDERS FUND is equity plus accumulated profits.

CREDITORS LEDGER see LEDGER.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.