--%>
Assignment Help - homework help

Define Responsibility Center

Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sales only), cost centers (that is, responsible for costs or expenses only), profit centers (that is, responsible for revenues and costs), or investment centers (answerable for revenues, investments, and costs).

   Related Questions in Managerial Accounting

  • Q : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

    		•
  • Q : Key elements of the Shell’s ethical code

    What are the key elements of the Shell’s ethical code? Describe in brief?

    		•
  • Q : Define Profit or Loss Analysis Profit

    Profit or Loss (P&L) Analysis: A financial statement which summarizes the revenues, costs and expenses acquired during a particular period of time - in general a fiscal quarter or year. Such records give information which exhibits the capability o

    		•
  • Q : Industry and your accounting place How

    How have you observed the regulations which affect both your industry and your accounting place?

    		•
  • Q : Elements of Partnership Three main

    Three main elements of Partnership: A) Carrying on of a business: • A ‘business’ is any trade, occupation or pr

    		•
  • Q : What are Arrears What are Arrears ? And

    What are Arrears? And what are the conditions to make Arrears?

    		•
  • Q : Cash coverage of growth A financial

    A financial analysis tools that measures the need for financing. The formula is the cash-flow from operating activities divided by the cash paid for long-term asset. Cash paid for long-term assets can be found on the statement of cash-flow, in the investing-activities

    		•
  • Q : Explain Value-Added Activity

    Value-Added Activity: An activity which is judged to contribute to customer value or gratify an organizational requirement. The characteristic "value-added" reflects a belief that the activity can’t be removed without decreasing

    		•
  • Q : What do you mean by the term Mission

    What do you mean by the term Mission statements? Briefly describe it.

    		•
  • Q : Techniques to liberate the function of

    Write down the different techniques employed to liberate the function of management accounting?

    		•