--%>
Assignment Help - homework help

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.

   Related Questions in Managerial Accounting

  • Q : Balloon payment The final payment in a

    The final payment in a partially amortized loan. The balloon payment repay the entire remaining principal and is usually larger than previous payments on the loan. Loan that is set up with balloon payments allow the borrower to make the purchase and have a lower payme

    		•
  • Q : Management accounting According to

    According to Martin and Steele (2010, p.13), “The two principal professional associations in Australia – CPA Australia (the CPA) and the Institute of Chartered Accountants in Australia (the Institute) have indicated their awareness of the significance of issues of sustainability reporting and develo

    		•
  • Q : Acquisition entry on Balance Sheet 1.

    Q : Asset retirement obligation Significant

    Significant costs associated with the disposal of asset. Accounting for asset retirement obligations requires estimating the cost and discounting estimate. The present value added to the asset's depreciable base and a liability is recorded for the obligation. Every year, interest expense is added

    		•
  • Q : Management accounting-scope Write down

    Write down the scope of Management accounting?

    		•
  • Q : Comparability-Accounting information

    What do you mean by the term Comparability which is accounting information?

    		•
  • Q : Activity-based costing Normal 0 false

    Normal 0

  • Q : What is Limited partnerships Limited

    Limited partnerships: Limited partnerships are an alternative to limited liability companies because of their simplicity. All the states encompass passed limited partnership legislation.A limited partn

    		•
  • Q : Define Activity Activity : The real

    Activity: The real work task or step executed in generating and delivering products and services. The aggregation of actions executed within an organization which is helpful for the purpose of activity-based costing.

    		•
  • Q : Define Responsibility Center

    Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa

    		•