Describe how products flow through departments and how costs flow through accounts?
Describe how products flow through departments and how costs flow through accounts?
Homework Answers
Departmental accounting is one type of Inter business practice that usually businessmen choose for lower cost.
However there are different accounting treatment depending on the terms between the management . It can be cost plus margin or certain percentage on invoice value
The Product flow is actually the same which discussed earlier. It is for cost saving purpose . The receiver department receive the product at a lower rate as compared to the market price.
Accounting treatment of inter departmental transfer depends on the terms . The Transferor department records it at cost .
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Describe how products flow through departments and how costs
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