Difference between revisions of "Profit center"

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(Created page with "Profit center is a unit or department that incurs costs and generates revenues. ==Definitions== According to College Accounting: A Practical Approac...")
 
 
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According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
 
According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
 
:[[Profit center]]. A unit or department that incurs costs and generates [[Fiscal Revenue|revenue]]s.
 
:[[Profit center]]. A unit or department that incurs costs and generates [[Fiscal Revenue|revenue]]s.
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According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]],
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:[[Profit center]]. Responsibility center where the manager is accountable for revenues and costs.
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According to [[Managerial Accounting by Braun, Tietz (5th edition)]],
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:[[Profit center]]. A responsibility center in which managers are responsible for both revenues and costs, and therefore profits.
  
 
==Related concepts==
 
==Related concepts==
 
*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
 
*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
  
==Related coursework==
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==Related lectures==
 
*[[Principles of Accounting]].  
 
*[[Principles of Accounting]].  
  
[[Category: Accounting]][[Category: Articles]]
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[[Category: International Accounting]][[Category: Articles]][[Category: Accounting]]

Latest revision as of 13:37, 15 July 2020

Profit center is a unit or department that incurs costs and generates revenues.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Profit center. A unit or department that incurs costs and generates revenues.

According to Cost Accounting by Horngren, Datar, Rajan (14th edition),

Profit center. Responsibility center where the manager is accountable for revenues and costs.

According to Managerial Accounting by Braun, Tietz (5th edition),

Profit center. A responsibility center in which managers are responsible for both revenues and costs, and therefore profits.

Related concepts

Related lectures