Responsibility Accounting Assignment Help
Write a journal article about responsibility accounting.
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The article talks about meaning, characteristics and the procedures of attaining the aims of the responsibility accounting. It argues that responsibility accounting refers to a system of control whereby there is assignment of responsibility to the control of costs. By that it means that there are individuals who are given the role to look after the control cost.
For the organization or the individuals to get the best outcomes, the company gives them authority by the organization to ensure that they get the best performance. In that case, it means that when the company undergoes certain loss in the event of management, the person should take the responsibility to explain it.
For instance, if a company gives a manager H the responsivityto come up with a budget of his or her department, it is the responsibility of the manager to put the budget under control. He or she is the one that should give the manager full details about the budget. If anything goes wrong with budget, the manager should be there to explain the situation.
On the other hand, the article explains that responsibility accounting refers to a given type of management accounting which collects and report the actual and planned accounting details based on the responsibility. Some of the features of the responsibility accounting include cost and revenues, use of budgeting, specification of the responsibility centers.
In terms of revenues and costs, the person responsible for accounting should use inputs and outputs to determine the decision. However, use of budgeting involves both the planned and actual information. Lastly, the responsibility needs individuals who have the power t command the authorities.
Reaction to the article
The above article explains responsibility accounting as a form of management which involves using information to manage an institution. However, it explains that there should be a person responsible for any responsibility given to him or her. Consequently this article has explored different meaning of responsibility accountingwhich makes it challenging to have one common decision of responsibility accounting. It provides the features of responsibility accounting that there must be an individual who is controlling the decision. However, the article maintains that one individual is the one who is always given the responsibility. It is good for the people in authority to also evaluation of the decision of other individuals who are given the responsibility. In some instances, having full trust on other people may be inappropriate.
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