Accounting Definitions Managerial Accounting

Responsibility Accounting Definition

By Abida Rehman March 31, 2014 #Responsibility Accounting, #Responsibility Accounting Definition

Responsibility Accounting Definition:

A system of accountability in which managers are held responsible for those items of revenue and cost – and only those items – over which the manager can exert significant control. The managers are held responsible for differences between budgeted and actual results.