ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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RESPONSIBILITY CENTER Definition
RESPONSIBILITY CENTER is a subunit in an organization whose manager is held accountable for specified financial results of its activities.
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DOLLAR VALUE LIFO, in the U.S., is a method of expressing the value of an inventory in monetary values rather than units. Each homogeneous group of inventory items is converted into base-year prices by using the appropriate price indices. The difference between opening and closing inventories is a measure in monetary terms of the change in the financial period.
SELF-CONTRUCT ASSETS is the costs incurred to build it yourself.