Responsibility center

Responsibility center,

Definition of Responsibility center:

  1. Entity within an organization that holds responsibility for the management of revenue, expenses, and investment funds. This center is controlled by a responsibility manager that works with other individuals in the organization to establish procedures and accounting practices to ensure that the necessary expense and revenue information is reported accurately. The responsibility center will also work with accountants to make sure that the organization is meeting requirements set by the Internal Revenue Service.

Meaning of Responsibility center & Responsibility center Definition