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A revenue center becomes a profit center if the latter is encompassed, thus making a profit center a blend of both a cost and revenue center. [10] In a revenue center the manager usually has control over issues regarding marketing and sales.
A profit center is a section of a company treated as a separate business. Thus profits or losses for a profit center are calculated separately. A profit center manager is held accountable for both revenue and costs (expenses), and therefore for profits.
Revenue management (RM) is a discipline to maximize profit by optimizing rate (ADR) and occupancy (Occ). In its day to day application the maximization of Revenue per Available Room (RevPAR) is paramount.
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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.
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As much as you might hate to pay them, the taxes you pay your state help fund essential programs and services in your community. Most states make the bulk of their tax revenue through sales tax ...
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 ...