Solved Assignment 1 Code 444 Spring 2016 ADVANCE ACCOUNTING
Solved Assignment 1 Code 444 Spring 2016 for subject code 444 advance accounting spring 2016 Is now available for B.Com students of Open University. For spring 2016 this is the first aiou solved assignment code 444 accounting 2 means advance accounting.
Q 1:- What do you understand by inter-branch transaction? What is the best method of dealing with these types of transaction?
Solved Assignment 1 Code 444 Spring 2016
Ans. Inter Branch Transactions: A transaction that takes place in a branch of your bank may involve accounts that are maintained in another branch. For example, a customer has an account in the Head Office branch and approaches another branch of the bank for a cash withdrawal. For each combination of branches that may be involved in an inter branch transaction. How to deal with these types of transaction: Direct inter branch accounting route then you need to maintain an accounting relationship for each possible combination of Branch and branch and RO RO and HO Branch and HO System determines the settlement route for inter branch transactions by considering the customer accounts that you specify for a particular currency. Fund transaction that takes place in a branch of your bank may involve accounts that are maintained in another branch. As mentioned earlier, If you have selected the option Allow Cooperate Access in the branch Parameters screen and the branch is a fund branch, the IB Entity will be defaulted as General Ledger. The GL that will be used will be based on the maintenance in the Fund Inter Branch Accounts Maintenance screen, for the fund id.
Course: Advanced Counting 1 B.Com Code: 444 Spring 2016 Assignment No: 01
Question No 6.