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A responsibility center is an organizational unit headed by a manager, who is responsible for its activities and results. [1] In responsibility accounting, revenues and cost information are collected and reported on by responsibility centers. [2] Typical examples of responsibility centers are the profit center, [3] cost center and the ...
Usually different profit centers are separated for accounting purposes so that the management can follow how much profit each center makes and compare their relative efficiency and profit. Examples of typical profit centers are a store, a sales organization and a consulting organization whose profitability can be measured. Peter Drucker ...
A revenue center is one of the five divisions of a responsibility center – cost center, revenue center, profit center, contribution center and investment center. [2] Cost centers, like revenue centers, only monitor costs, thereby making them a counterpart to the revenue center. [3]
Given the above, one view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting. [16] Consistent with the notion of value creation, management accountants help drive the success of the business while strict financial accounting is more of a compliance and ...
A cost centre is a department within a business to which costs can be allocated. The term includes departments which do not produce directly but they incur costs to the business, [1] when the manager and employees of the cost centre are not accountable for the profitability and investment decisions of the business but they are responsible for some of its costs.
The trustee of a small company that went bust after appearing on CNBC's "The Profit" has joined other companies in suing NBC and a company partly owned by show presenter Marcus Lemonis.
Constraints accounting; Construction accounting; Contribution margin; Corporate budget; Corporate travel management; Cost accounting; Cost analyst; Cost auditing; Cost centre (business) Cost driver; Cost object; Cost–volume–profit analysis; CPA Canada; Customer profitability
Experts say the continued growth of for-profit prison operators like Youth Services International amounts to a cautionary tale about the perils of privatization: In a drive to cut costs, Florida has effectively abdicated its responsibility for some of its most troubled children, leaving them in the hands of companies focused solely on the ...