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Responsibitlity Accounting

Some business organisation are now adopting responsibility accounting in their management section , though adopting advance computer and internet facility they are setting each and every person's responsibility .
So you should know about responsibility accounting .
Responsibility accounting is system of control where responsibility is a signed of control on cost . The proper authority is given to person so that they are given to persons so that they are able to keep up their performance .
"In other words , the responsibility accounting is that type of management accounting that collects and reports both planed actual accounting informations in the terms of responsibility centers."
Types of responsibility center
1. Cost center
The cost center relates to that segment in which the managers are responsible for incurring the cost. But there have no responsibility of revenue. It is also known as expenses center.
2. Profit Center
When a responsibility center gets revenue from output then it is known as profit center. The difference between revenue earned and cost incurred will be the amount of profit .
3.Investment Center
An investment centre is an entry segment in which a manager can control not only revenue or cost but also investments . In this , the manager who is given the responsibility of investment center is under obligation for proper utilisation of assets .
Steps of responsibility accounting
1.The organisation should be divide
2.Making of Responsibility Center
3.Making of targets or set the targets in different centers
4.Count actual performance
5. Analysis of performance
5.Timely improved action.

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Accounting Education: Responsibitlity Accounting
Responsibitlity Accounting
Accounting Education
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