Difference between revisions of "Cost center"

From CNM Wiki
Jump to: navigation, search
(Created page with "Cost center is a unit or department that incurs costs but does not generate revenues. ==Definitions== According to College Accounting: A Practical A...")
 
 
(4 intermediate revisions by 2 users not shown)
Line 5: Line 5:
 
According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
 
According to [[College Accounting: A Practical Approach by Slater (13th edition)‎]],
 
:[[Cost center]]. A unit or department that incurs costs but does not generate [[Fiscal Revenue|revenue]]s.
 
:[[Cost center]]. A unit or department that incurs costs but does not generate [[Fiscal Revenue|revenue]]s.
 +
According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]],
 +
:[[Cost center]]. Responsibility center where the manager is accountable for costs only.
 +
According to [[Managerial Accounting by Braun, Tietz (5th edition)]],
 +
:[[Cost center]]. A responsibility center in which managers are responsible for controlling costs.
 +
  
 
==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==
+
==Related lectures==
 
*[[Principles of Accounting]].  
 
*[[Principles of Accounting]].  
  
[[Category: Accounting]][[Category: Articles]]
+
[[Category: International Accounting]][[Category: Articles]][[Category: Accounting]]

Latest revision as of 12:10, 14 July 2020

Cost center is a unit or department that incurs costs but does not generate revenues.


Definitions

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

Cost center. A unit or department that incurs costs but does not generate revenues.

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

Cost center. Responsibility center where the manager is accountable for costs only.

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

Cost center. A responsibility center in which managers are responsible for controlling costs.


Related concepts

Related lectures