Purpose of foreign branch bank
Discuss the purpose of the foreign branch bank.
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Foreign branch bank operates like local bank, though legally it is part of the parent bank. As such, branch bank is subjected to the banking regulations of its home country and also country in which it operates. Primary reason for parent bank forms a foreign branch is that it may offer full range of services for its MNC customers through branch office in comparison to those it provides through a representative office.
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he following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost
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