Definition of Responsibility centre

Responsibility centre

A division or unit of an organization for which a manager is held responsible – may be a cost centre, profit centre or investment centre.

Cost object

Anything for which a measurement of cost is required – inputs, processes, outputs or responsibility centres.

Planning, programming and budgeting system (PPBS)

A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.

Cost centre

A division or unit of an organization that is responsible for controlling costs.

Investment centre

A division or unit of an organization that is responsible for achieving an adequate return on
the capital invested in the division or unit.

Profit centre

A division or unit of an organization that is responsible for achieving profit targets.

responsibility

the obligation to accomplish a task or achieve an objective

responsibility accounting system

an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
of each specific manager

responsibility center

a cost object under the control of a manager

responsibility report

a report that reflects the revenues and/or costs under the control of a particular unit manager

Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (IIRIRA)

A federal Act shielding employers from liability if they have made
a good-faith effort to verify a new employee’s identity and employment eligibility.

Personal Responsibility and Work Opportunity Reconciliation Act

A federal Act requiring the reporting of new hires into a national database.

Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.