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Pure revenue centers hardly exist. This is due to the fact that costs cannot be completely ignored. Usually (as stated above) revenue center managers control expenses. [12] Revenue center managers should not be allowed to make marketing decisions. For example, if a revenue center manager is allowed to set the revenue target, he will maximise ...
A cost centre is a department within a business to which costs can be allocated. The term includes departments which do not produce directly but they incur costs to the business, [1] when the manager and employees of the cost centre are not accountable for the profitability and investment decisions of the business but they are responsible for some of its costs.
A responsibility center is an organizational unit headed by a manager, who is responsible for its activities and results. [1] In responsibility accounting, revenues and cost information are collected and reported on by responsibility centers. [2] Typical examples of responsibility centers are the profit center, [3] cost center and the ...
Revenue management (RM) is a discipline to maximize profit by optimizing rate (ADR) and occupancy (Occ). In its day to day application the maximization of Revenue per Available Room (RevPAR) is paramount. It is seen by some as synonymous with yield management.
COE – Center of Excellence or Cost of Equity [5] COGS – Cost of Goods Sold; Corp. – Corporation; COO – Chief Operating Officer; CPA – Certified Public Accountant; CPI – Consumer Price Index; CPO – Chief People Officer also Chief Procurement Officer; CPQ – Configure, Price, Quote; CPU – Central processing unit; CSI ...
TTB's Field Operations are organized into five divisions: [3] National Revenue Center: reconciles returns, reports, and claims; screens applications and promptly issues permits; and provides expert technical assistance for industry, the public and government agencies to ensure fair and proper revenue collection and public safety.
A profit center is a section of a company treated as a separate business. Thus profits or losses for a profit center are calculated separately. A profit center manager is held accountable for both revenue and costs (expenses), and therefore for profits.
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. [1] Commercial revenue may also be referred to as sales or as turnover. Some companies receive revenue from interest, royalties, or other fees. [2] "