Difference between revisions of "Profit center"
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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. | ||
| + | According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]], | ||
| + | [[Profit center]]. Responsibility center where the manager is accountable for revenues and costs. | ||
==Related concepts== | ==Related concepts== | ||
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*[[Principles of Accounting]]. | *[[Principles of Accounting]]. | ||
| − | [[Category: International Accounting]][[Category: Articles]] | + | [[Category: International Accounting]][[Category: Articles]][[Category: Accounting]] |
Revision as of 12:46, 11 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.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. 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.
