The major objective of departmental accounts is to ascertain the?

Assessment: JAMB UTME - Principles of Accounts - 2011 Subject: Financial Accounting

Question 1 Report

The major objective of departmental accounts is to ascertain the?
Answer Details
The major objective of departmental accounts is to ascertain the contribution of each department to profit. This involves keeping records of the revenue, expenses and profit of each department separately in order to determine the profitability of each department. By analyzing the departmental accounts, management can identify areas where costs can be reduced and revenues increased, thereby increasing overall profitability of the business.
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