Explain Responsibility Segment

Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as:

(i) Its manager reports to the entity's top management;

(ii) It is accountable for carrying out a mission, executing a line of activities or services, or generating one or a group of products; and

(iii) For the financial reporting and cost management aims, its resources and outcomes of operations can be obviously differentiated, operationally and physically, from those of other parts of the entity.

View Complete Question

Related Questions in Managerial Accounting

Q : Bank reconciliation statement Explain

Explain the term bank reconciliation statement?

Q : Tax form a deadweight loss Why does a

Why does a tax form a deadweight loss? A tax forms deadweight loss by artificially increasing price above the free market level, therefore reducing the equilibrium quantity. This reduction in demand decreases consumer as well as producer surplu

Q : Define Common Cost Common Cost : It is

Common Cost: It is the cost of resources used jointly in the production of two or more outputs and the cost can’t be directly traced to any one of those outcomes.

Q : Define the term Strategic management

Briefly define the term Strategic management and also state the reason why it is designed?

Q : Explain Activity-Based Costing

Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of

Q : Industry and your accounting place How

How have you observed the regulations which affect both your industry and your accounting place?

Q : Partnership from Accounting point of

Describe the status of partnership from an accounting point of view? Answer: From an accounting point of view, partnership is a separate business entity. From legal

Q : Define Employee Stock Ownership

Employee Stock Ownership: It is a qualified, defined contribution, employee benefit (that is, ERISA) plan designed to invest mainly in the stock of sponsoring employer. ESOPs are "qualified" in the logic that the ESOP's sponsoring company, the selling

Q : Why most of the larger businesses are

Why most of the larger businesses are not managed as the single unit through one manager?

Q : Fundamentals of Accounting Assignment

Assignment 1: A adjusted Trial balance table given below: Southwest Business School

Discover Q & A

Leading Solution Library

Avail More Than 1412494 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1935776
Asked

3,689

Active Tutors

1412494

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment