Category: Bookkeeping

6 7 Acquired research and development assets

6 7 Acquired research and development assets

is research and development an asset

Decentralized financial management refers to a model in which branch organizations within a corporate group independently make financial management decisions and operate under the guidance and supervision of the headquarters (Kutsyk et al., 2020). Each branch independently maintains accounting books and conducts accounting calculations, submitting financial statements to the group management at the end of the accounting period. The understanding of the group’s overall financial situation is achieved through consolidated financial statements. Under the decentralized financial management model, each branch establishes independent bank accounts as needed and independently manages cash, liquidity, and small-scale short-term financing activities. Only long-term strategic financing …