On completion of the study of the chapter, you should be able to understand:
What is the meaning and concept of Responsibility Accounting?
Prerequisites and assumptions of Responsibility Accounting.
Advantages and limitations of Responsibility Accounting.
Meaning and concept of responsibility centres.
Different types of responsibility centre.
Concepts of controllable and Non-controllable Costs.
What is responsibility reporting?
Different types of responsibility reporting.
13.1 MEANING AND CONCEPT OF RESPONSIBILITY ACCOUNTING
An organization uses various techniques of costing such as Standard Costing, Budgetary Control for Control of Costs and so on. Under these costing techniques, focus ...