Accounting for IGCSE & O level - Final Statements (Section 14 - No. 5)
What is a major advantage of departmental accounts?
They eliminate the need for overall financial statements.
They provide a detailed overview of the profitability of each department.
They make tax reporting easier.
They simplify the process of getting a bank loan.
Paliwanag
They allow businesses to assess the performance of each department individually.