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State of FloridaPublic Service Commission Capital Circle Office Center ? 2540 Shumard Oak Boulevard Tallahassee, Florida 323990850 MEMORANDUMDATE: January 10, 2013 TO: Office of Commission Clerk (Cole)
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Division of accounting refers to the separate financial reporting practices that categorize and track financial transactions and income expenses of different segments or divisions of a business.
Typically, companies that operate in multiple segments or divisions are required to file a division of accounting to provide a clearer picture of the financial performance of each segment.
To fill out division of accounting, companies should gather financial data from each division, categorize it according to the prescribed format, and ensure all relevant expenditures and revenues are properly allocated.
The purpose of division of accounting is to give stakeholders, including management and investors, a detailed view of the financial performance and position of individual divisions within a company.
Key information that must be reported includes revenues, expenses, profits or losses, and asset allocation for each division, along with any inter-divisional transactions.
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