Difference between revisions of "Profit center"
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:[[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)]], | According to [[Cost Accounting by Horngren, Datar, Rajan (14th edition)]], | ||
| − | [[Profit center]]. Responsibility center where the manager is accountable for revenues and costs. | + | :[[Profit center]]. Responsibility center where the manager is accountable for revenues and costs. |
==Related concepts== | ==Related concepts== | ||
Revision as of 12:47, 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.
