BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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HQ will maintained all transactions by branches in one ledger
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HQ will be as supplier
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transactions by branches recorded and submitted to HQ
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all account records manage by HQ
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Detailed explanation-1: -Non Integrated Accounting Systems contain fewer accounts when compared with financial accounting because of the exclusion of purchases, expenses and also Balance Sheet items like fixed assets, debtors and creditors. Items of accounts which are excluded are represented by an account known as cost ledger control account.
Detailed explanation-2: -The integrated accounting method is not suitable for large units. The reason behind it is that we require cost & financial data continuously. The data and information are vast, so perfect integration is impossible.
Detailed explanation-3: -Accounting software should have the same functionality-data entry and storage. In addition it gives you more analytics and actionable accounting features, like forecasting and cash flow analysis. Bookkeeping and accounting software both reduce the amount of time spent on data entry.