Master departmental accounting from concept to problem-solving with this complete online course. You'll understand the meaning and importance of departmental accounts, the format of departmental accounts, and the basis for allocating expenses between departments, then learn to prepare the general profit and loss account and the balance sheet for the organisation as a whole. The course covers accounting for inter-departmental transfer of goods at cost price or invoice price, calculation of stock reserve and elimination of unrealised profit on unsold stock, and the Memorandum Stock and Memorandum Mark-up Account method. With 8 comprehensive problem-solving sessions, clear explanatory videos, and MCQs (11 sessions in total), it makes a tricky topic easy to understand and apply.

Key Highlights:

• Complete departmental accounting course, concepts to problems
• Meaning, importance, and format of departmental accounts
• Allocation of expenses and preparation of profit & loss and balance sheet
• Inter-departmental transfer, stock reserve, and unrealised profit
• Memorandum Stock and Memorandum Mark-up Account method
• 8 problem-solving sessions and MCQs, with a course completion certificate

What you'll learn:

• Meaning and importance of departmental accounts
• Format of departmental accounts
• Basis of allocation of expenses between departments
• Preparation of the general profit and loss account
• Accounting for inter-departmental transfer of goods at cost or invoice price
• Calculation of stock reserve
• Memorandum Stock and Memorandum Mark-up Account method
• 8 comprehensive problem-solving sessions

Who this course is for:

• B.Com, CA, and CMA students studying departmental accounting
• Students and professionals studying financial accounting
• Anyone wanting in-depth knowledge of departmental accounting