1. Topics
  2. Accounting
  3. “responsibility Accounting”

“responsibility Accounting”

ProjectStoc - 35 pages 4441 words 827 views Seminar Degree Level Accounting ₦3000 Naira ($7.89 USD)

This is a Premium work, paid access only

Register/Login to Access Full Work


INTRODUCTION
Responsibility accounting is the third type of management accounting information.  It is called by that name because the accounting information is structured according to organization units, which are responsibility centers.  Responsibility accounting collects and reports information that is used in an important management function and management control.

RESPONSIBILITY ACCOUNTING
DEFINITION
An information system designed to a measure the performance of that segment of a business for such a given manager is responsible is often referred to as “responsibility accounting system”.

A responsibility accounting system should reflect the plans and performance of each organization.  It is designed to provide timely information for decision making and for the evaluation of performance.  In addition to being timely such information should highlight deviations of actual performance from planned performance so that appropriate corrective action can be taken.  All items of expense are the responsibility of an individual and should be charged to that individual at the point of origin.  In other words, expenses should be viewed as the responsibility of the manger of the organizational unit where costs originated.  The manager at this level is authorized to incur expenses and he is in a position to exercise direct control over them.


TABLE OF CONTENT

TITLE PAGE II
APPROVAL PAGE III
PREFACE IV
DEDICATION V
ACKNOWLEDGEMENT VI
TABLE OF CONTENT VIII

CHAPTER ONE
1.1 Introduction 1
1.2 Responsibility accounting 1
1.3 Responsibility center 2
1.4 Types of responsibility centers 8
1.5 Expense center 9
1.6 Profit center 9
1.7 Investment center 10

CHAPTER TWO
2.1 Management control process 12
2.2 Steps in management control 14
2.3 Type of budget 15
2.4 The cash budget 17
2.5 Uses of budget 20
2.6 Budget preparation 23
2.7 Reporting and analysis 23

CHAPTER THREE
3.1 Control reports and their uses 25
3.2 Information reports 25
3.3 Performance reports 26
3.4 Technical criteria for report 27
3.5 Summary 29
BIBLIOGRAPHY 32



 


Disclaimer: Note this academic material is intended as a guide for your academic research work. Do not copy word for word. Note: For Computer or Programming related works, some works might not contain source codes

CITE THIS WORK

(2014, 11). “responsibility Accounting”.. ProjectStoc.com. Retrieved 11, 2014, from https://projectstoc.com/read/4812/ldquo-responsibility-accounting-rdquo-8986
"“responsibility Accounting”." ProjectStoc.com. 11 2014. 2014. 11 2014 <https://projectstoc.com/read/4812/ldquo-responsibility-accounting-rdquo-8986>.
"“responsibility Accounting”.." ProjectStoc.com. ProjectStoc.com, 11 2014. Web. 11 2014. <https://projectstoc.com/read/4812/ldquo-responsibility-accounting-rdquo-8986>.
"“responsibility Accounting”.." ProjectStoc.com. 11, 2014. Accessed 11, 2014. https://projectstoc.com/read/4812/ldquo-responsibility-accounting-rdquo-8986.