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Departmental A/c - Coggle Diagram
Departmental A/c
Method
Single book
Separate book
Allocation of
Expenses
Individual deptt
Incurred for single deptt
common expenses
Incurred by all deptt
allocate
expenses that
cant be allocated
combined pnl account
Types of deptt
Independent
Dependent
Transferring goods for further processing
Output of 1 deptt = input of other
Transfer is @ cost or predetermined SP
Unloading required if profit in transfer price
Interdepartmental transfers
Transfer price
Cost
CMP
Cost + agreed %
Elimination of
unrealised profit
Profit in unsold inventory
should be excluded
To eliminate internal
(anticipatory profit)
Stock reserve
Journal entries
Balance sheet
Memo stock
Memo mark up :warning: