What is Responsibility Accounting? How are units in an organization designated as Responsibility centres?.

Responsibility accounting is a system of accounting that segments an organization into various units known as responsibility centres, each of which is led by a manager who is accountable for its operations and performance. The primary goal of responsibility accounting is to assign and track financial and operational performance to the individuals who are responsible for specific segments of the business. This system emphasizes accountability, transparency, and control by delegating responsibilities and evaluating managers based on the outcomes of their respective centres.

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