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Available courses

Departmental Accounts

Departmental Accounting

Course Overview

This course explores the principles and techniques used to segregate a business into "responsibility centers." Students will learn how to prepare separate Trading and Profit & Loss accounts for various departments to identify which units are contributing to the company's growth and which are underperforming.

Introductory Video Lecture

Watch this introductory module to understand the core pillars of financial statements used in departmental analysis.

Learning Objectives

  • Segment Financial Data: Understand how to divide a large organization into independent or dependent departments.
  • Allocate Expenses: Apply rational bases (such as floor area or sales volume) to distribute common expenses.
  • Manage Internal Transfers: Record the movement of goods between departments at cost or invoice price.
  • Calculate Stock Reserves: Identify and eliminate unrealized profits from unsold stock.
  • Evaluate Performance: Analyze departmental profit margins to assist in management decision-making.

Key Modules

1. Introduction to Departmental Accounting

  • Definition, objectives, and advantages for management.
  • Distinction between Departmental and Branch Accounting.

2. Methods of Maintaining Accounts

  • Columnar Form: Maintaining a single set of books with separate columns.
  • Separate Form: Maintaining distinct books for each division.

3. Allocation of Expenses and Incomes

  • Bases of apportionment (Rent, Lighting, Insurance, Depreciation).
  • Handling non-allocable General P&L items.

4. Inter-Departmental Transfers

  • Accounting treatment at cost price vs. selling (invoice) price.
  • Calculation of Stock Reserves for unrealized profit.

Target Audience

This course is ideal for:

  • Undergraduate students in Accounting, Finance, or Business.
  • Professional candidates (CMA, ACCA, or CA).
  • Accountants and bookkeepers in multi-unit retail or manufacturing.

Prerequisites

A basic understanding of Financial Accounting, including the accounting cycle, journal entries, and the preparation of basic final accounts (Trading and P&L).

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