Describe the information found on a responsibility accounting performance report.

Responsibility Accounting

An accounting system that collects, summarizes, and reports financial information related to the responsibilities of individual managers or departments, encouraging accountability.

Performance Report

A document that evaluates the output, efficiency, and effectiveness of an individual's or organization's performance.

Elucidate the principle behind a responsibility accounting system and its significance in fostering accountability and gauging performance within an organization.

Verified Answer

Zybrea KnightJun 06, 2024

Final Answer :

A responsibility accounting performance report accumulates and reports actual costs that a manager is responsible for and their budgeted amounts.

Learning Objectives

Elucidate the principle behind a responsibility accounting system and its significance in fostering accountability and gauging performance within an organization.

Describe the information found on a responsibility accounting performance report.

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Learning Objectives

Learning Objectives

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