Explain the concept of responsibility accounting
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Answer / Prakhar Narain
Responsibility Accounting is a system that assigns specific cost responsibilities to departments or individuals within an organization. This allows for more accurate and detailed tracking of costs, as each department or individual is accountable for their specific costs. It helps in decision-making, budgeting, performance evaluation, and cost control. The main idea is to make it clear who is responsible for what costs and revenues, enabling better management control.
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please inform me , how to make employee ladger account of salary...please inform me with entry..e.g if we give 14000 salary, as structure we put it half amount in advance and half is salary so in this case how to make entry in employee ledger account...please inform me...both things..Thank You.
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