In no more than 200 words explain the specific insights having an accounting training provides when analyzing the Sharp case.
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Responsibility accounting breaks a large organization into smaller, more easily manageable units known as responsibility centers. Managers bear an element of responsibility for the performance of their respective centers. In this case two type of responsibility centers can be used:
1. Cost centers are those in which the manager and the center employees have control over costs.
2. Profit center: Here the control is over both revenue and expenses.
In the present case the production department's performance is judged by the profit which includes the charge of the Engineering Service department, but engineering service department is a discretionary cost center. Thus in the ...
This explains the concept of Responsibility Centers with examples