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What is Departmental Accounting? Give an example?

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Question added by Mian Muhammad Naeem Jan , Chief Finance Officer , Sidra Events Management Company Ltd
Date Posted: 2015/11/14
Khurram Shehzad
by Khurram Shehzad , Senior Accountant , Journey General Trading W.L.L.

Each department prepare seperate accounts for the purpose of departmental performance evaluation under seperate budgetary constraints. Ultimately these accounts submitted to head office for consolidated accounts and group financial statements.