DEPARTMENTAL ACCOUNTING Definition

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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.

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KRONE (KRONEN) is a currency of Austria, Bohemia, and Romania.

LESS THAN CONTAINER LOAD (LCL) is a shipment in which the freight does not completely fill the container; or a particular consignors freight when combined with others to produce a full container load.

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