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What is Accounting for Branch Operations about?

Branch offices maintain separate accounting records from the home office. Each branch has its own financial statements showing its individual sales, expenses, income, assets and liabilities. When resources such as cash or inventory are transferred between the home office and branch, reciprocal accounts are created to track the transaction in both sets of books by increasing the investment in branch account as a debit in the home office and increasing the home office account as a credit in the branch books.

Author

Joyce De Silva

Language

EN