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Definition of responsibility
the obligation to accomplish a task or achieve an objective
A federal Act shielding employers from liability if they have made
A federal Act requiring the reporting of new hires into a national database.
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
a cost object under the control of a manager
A division or unit of an organization for which a manager is held responsible – may be a cost centre, profit centre or investment centre.
a report that reflects the revenues and/or costs under the control of a particular unit manager
A subcommittee of a company's board of directors assigned the responsibility
The Association for Investment Management and Research (AIMR)'s Performance Presentation Standards Implementation
a responsibility center in which the manager has
Anything for which a measurement of cost is required – inputs, processes, outputs or responsibility centres.
A federal Act requiring that both sexes receive equal pay
An undewriting in which an investment banking firm commits to buy the
To take responsibility for payment of a debt or performance of some obligation if the person primarily liable fails to perform.
When buying securities on margin, the proportion of the total market value of
a responsibility center in which the manager
An agreement between two or more firms to share risk and financing responsibility in
The commercial or investment bank with the primary responsibility for organizing syndicated
Management refers to the individuals in an entity that have the authority and the responsibility to manage the entity. The positions of these individuals, and their titles, vary from one entity to another and, to some extent, from one country to another depending on the local laws and customs. Thus, when the context requires it, the term includes the board of directors or committees of the board which are designated to oversee certain matters (e.g., audit committee).
a depiction of the functions, divisions,
the manner in which authority and
A legal document whereby an individual takes responsibility for payment of debt or performance of some obligation if the person/company primarily liable fails to perform.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
a responsibility center in which managers are responsible for generating revenues and planning and controlling all expenses
Document intended to provide shareholders with information necessary to vote in an informed manner
the implementation of all practices and policies
the profit earned by a responsibility center that exceeds an amount "charged" for funds committed to that center
a responsibility center for which a manager is accountable only for the generation of revenues and has no control over setting selling prices, or budgeting or incurring costs
Removing liability or responsibility regarding a tangible event.
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