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A cost centre adds to a firm's cost whereas a profit centre adds to the firm's cost and profit. Furthermore, the main objective of a cost centre is to minimise cost whereas the main objective of a profit centre is to maximise profit. [14] Profit centres provide a wider and more general measurement of performance than the cost centre.
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 ...
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This makes the profit center management more challenging than cost center management. Profit center management is equivalent to running an independent business because a profit center business unit or department is treated as a distinct entity enabling revenues and expenses to be determined and its profitability to be measured.
This can be confirmed graphically. Using the diagram illustrating the total cost–total revenue perspective, the firm maximizes profit at the point where the slopes of the total cost line and total revenue line are equal. [4] An increase in fixed cost would cause the total cost curve to shift up rigidly by the amount of the change. [4]
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. This is delegated to him because both of the spheres require extensive knowledge that is explicit to the ...
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed.At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice for the customer (which may be a cash register printout), and indicates the options for the customer to make payment.
Cost center may also refer to: Cost Sports Center , the indoor athletic facility often referred to by the same name Cost centre (business) , the part of an organization that does not produce direct profit and adds to the cost of running a company
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