ptofit and loss account 3

May 13th, 2015
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profit and loss statement describe Profit Centres

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Profit CentresA concept originated in the 1940s by the great management guru, Peter Druker, profit centers divide a company into smaller entities allowing entrepreneurs to measure results more easily.Based on the nature of the financial input and/or output that are measured for control purposes, four basic types of responsibility centres, Revenue, Cost, Profit and Investment, are generally distinguished (Anthony and Govindarajan, 2004)Meaning of profit centreDistinctly identifiabledepartmentorunitthatcontributesto the overallfinancial resultsof a firm is called a pro

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