Chart of Accounts responsibility for a multi-location entity
Not what you're looking for?
If you were working for a Company that had multiple locations - in California, Nevada, Texas, Georgia and South Carolina), what would some of the considerations be when developing the chart of accounts, and why? Who should be responsible for monitoring and maintaining the chart of accounts and why? What can happen if someone was not responsible to monitor and maintain in this example?
Purchase this Solution
Solution Summary
In a 316 word response, the solution carefully explains the responsibility for monitoring and maintaining the chart of accounts for a multi-location organization.
Solution Preview
Assumptions for problem:
1. It is all one entity.
2. Management (including accounting) is centralized.
3. All locations are similar for types of revenue.
4. Intercompany sales are not an issue.
The most important concept with multiple locations is the ability to segregate revenue and expense by location. This is critical in order to be able to compare locations for profitability, management of resources, differences in state laws and taxation, etc.
The second concept is continuity between locations ...
Purchase this Solution
Free BrainMass Quizzes
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.
Six Sigma for Process Improvement
A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.