Responsibility refers to the duty or the obligation to fulfill a task within the given standards. The outcome of the task- whether favorable or unfavorable- is completely shared by the person(s) who undertook the task.
With respect to an organizationâ€™s financial terms, it refers to the budgeting and accounting of every individual division. Every division is responsible for its active functioning, and budgets are being allocated for the same. The people heading the divisions are responsible for the utilization of the allocated budgets. A fine understanding of this can be derived with help of manuals as responsibility accounting homework answers.
What is the concept of responsibility accounting?
Responsibility Accounting involves the preparation of yearly and monthly budgets for every division. Then the organizationâ€™s definite businesses are classified by each division, and a monthly report is being prepared.
These reports reveal the actual amount spent versus the expected amount spent, and the variance of the actual and expected amount spent is calculated.Responsibility Accounting allows the company and the division managers with a monthly feedback on the managerâ€™s performance.
As the organization is expanding exponentially, it becomes tedious to centralize the activities and run the organization. Hence, organizations are opting for decentralization; making each responsible for its activities, hence impacting the overall organizational performance. To know more, you can surely check out manuals as responsibility accounting homework answers.
The decentralized divisions operate at their own level, plan their own spending, and are assessed based on the output with the allocated inputs. This brings the onus to the division managers, and they are being held for all observed variances.
For example Ms. A is the head of the recruitment division of an organization. She is responsible for all the money that flows in and out of her division. She must submit a report at the start in order for the budget allocations. Her assessment would be made based on the variance of the amount spent by her division to the amount allocated to her division. It becomes her responsibility to control the variance if it tends to be negative.
Responsibility Accounting involves the following features:
For those students who wish to have a detailed study of these features, a glimpse through responsibility accounting homework answers manuals is of great help.
Objective of involving Responsibility Accounting:
Advantages of Responsibility Accounting:
Introducing Responsibility Accounting in the organization yields the following the advantages.
It is best that students have an analytical study of responsibility accounting homework answers for getting a better idea.
Disadvantages of Responsibility Accounting:
Just like any other management phenomenon, the Responsibility Accounting comes with its flaws. A few of them are mentioned below.
not align with the organizational expectations.
The homework provided at schools are proficient to provide problems of Responsibility Accounting. However, the assistance by the faculties is restricted to excel in academics instead of enabling the students to become industry ready.
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Points to note while choosing homework helps services:
There are certain points, however, that must be considered while choosing any homework help because it would affect the whole thought process of the students.
The on board assists are industry professionals with ample amounts of experience for all kinds of queries. They possess masters and doctorate degrees which make them theoretically experts in their fields, apart from the industry experience they bring along. By taking assistance from them, the students can prepare themselves for both theoretical and real-world problems of Responsibility Accounting.
The help for the homework is provided based on real-life experiences. This provides 100 percent plagiarism free answers to the students. Also, this helps the students to analyze the answers before submitting, while clarifying their doubts for each and every step involved in the answers. You can surely check out responsibility accounting homework answers for a detailed study.
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Responsibility Accounting looks a simple phenomenon on paper. However, it takes a different turn when applied practically in the organizations. Since each department is interdependent in other departments, it is practically impossible to decentralize the activities.
The academic homework may fail to acknowledge this fact and frame the problems theoretically. However, professional assistance can help the students achieve both theoretical and practical knowledge in order to score well in exams and life.