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Departmental Accounts

video lesson SS3 · Financial Accounting · 43:05

This lesson covers the definition and purpose of departmental accounts. It explains how to prepare these accounts to show the performance of different departments in a business. The lesson also discusses the advantages of using departmental accounts for comparison, error detection, and managerial as

  • 28:30 “So department C will take 3 over 15, or 4,200. Because we will quickly calculate that 3 divided by 15 times 4,200. And that will give us 840 NIRA. So we are taking care of the insurance expense, salaries, and wages, rent...”
  • 08:00 “Then selling expenses such as bad debts, discounts, allowed, carried out words advertising will also floor area is also the basis for apportionment. Then salaries and wages, the number of staff employed or the basis givi...”
  • 30:59 “So for departments A, department B, and department C. So departments A would say, we are dividing 4,000 5 by 3. It will give you 1,000 5. So for departments A, we have 1,000 5. For department B, 1,000, department C, 1,00...”
departmental accounts financial accounting business performance department nira departments expenses basis