ACCA/CAT

Responsibility accounting is a system of accounting that segregates revenue and costs into areas of personal responsibility in order to monitor and assess the performance of each part of an organization.

The main responsibility centers are:

Cost center – the performance of a cost center manager is judged on the extent to which cost targets have been achieved.

Revenue center – Within an organization, this is a centre or activity that earns sales revenue. And whose manager is responsible for the revenue earned but not for the costs incurred.

Profit center – A part of the business whose manager is responsible and accountable for both costs and revenue. The performance of a profit center manager is measured in terms of the profit made by the centre.

Investment center – A profit center with additional responsibilities for investment and possibly also for financing, and whose performance is measured by its return on capital employed (ROCE)..

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