These are profit responsibility centers. In profit centers, the manager is responsible for revenues and costs. Profit centers should have adequate autonomy to select customers and set prices for products or services sold. The same autonomy should apply to the formation of cost levels. An example of a manager – in capital groups, the director of a manufacturing plant.
Chart of accounts – what is it and what does it consist of?
A chart of accounts is a very important tool in finance. It helps monitor receipts and expenditures to…