... Chapter 4 Responsibility Centers: Revenue and Expense Center Submitted by: Group 7 Bianes, Vanessa Jean Dela Cruz, Moriah C. Icaranom, Maricar F. Ocampo, Jahleel M. Sabinay, Alexa Submitted to: Prof. Gina Tomimbang SUMMARY Responsibility Center – is an organization unit in a business headed by a manager. 4 kinds of Responsibility Center * Expense Center – input measured in monetary terms but not the output. Ex: Manufacturing Unit of the company INPUT e.g. materials, labor, indirect labor OUTPUT is the finished goods * Revenue Center – concerned in the sales of the product measured in monetary terms. The expenses cannot be related to output. For example, advertising expense. A company is not assured that in every amount they put into advertising will be translated into sales. Ex: Marketing Department of the company (taking only on sales) * If they reach the quota, it means they are effective * Profit Center – unit concerned both in the revenue and expenses, or the Net Income Ex: Business Unit * Investment Center – unit concerned in the ROI or the Return on Investment. | Effective – doing the right thing | Efficient – doing things right | Revenue Center | Objective: If they reach the quota | If exceeded the quota but with the same expenses | Expense Center | Objective: If they meet the standard output/finished goods | If produced more output but with the same expenses | Two Types of Expenses in the Expense Center 1. Engineered Cost –...
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...to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Ellis, D. (2011). Becoming a master student (13th ed.). Boston, MA: Wadsworth, Cengage Learning. All electronic materials are available on the student website. 1 Course Design Guide GEN/200 Version 2 Week One TOPICS AND OBJECTIVES Academic Success Identify university resources required for student success. Develop educational goals. Recognize the importance of personal responsibility. Demonstrate the key elements of the writing process . Weekly Overview Students explore various university resources and aspects of pers onal responsibility, such as financial...
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...Community Profile Chynette Gilkey EHT/316 July 16, 2013 George Price Community Profile In this paper, one will speak of her community. There will be talk of the population of Madison, Tennessee. The paper will talk of the type of people the community holds as well as the sort of work the people in the community do. The paper will tell how and where members of the community mingle, and interact with one another. One will speak on the responsibilities of individual’s to the community, in addition, what socially responsibility means. The location of Madison community sits in the northeastern part of Davidson County (Duke, 2013). Madison borders north of Sumner County, and the eastern line linking the Cumberland River. Moreover, Madison is South of Briley Parkway. Madison western boundary is I-65 (Duke, 2013). Above 50 percent of Madison is housing with 25 percent either unoccupied or farming, and the rest commercial and business (Duke, 2013). Furthermore, the Madison community is where Elvis Presley’s fan club started in the back of his manager Colonel Tom Parker home in his shed, and is presently a law office. In 2010, the famous Amqui Station saved by Johnny Cash, and reopened to mark the stations 100th birthday. The Amqui Station today sits as the centerpiece for the Madison community (Duke, 2013). Next, the Cherokee Indians walked down Old Hickory Boulevard during the trail of tears directed by President Andrew Jackson (Wikipedia, 2013). The route lead...
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...Personal Responsibility Essay Philip Stansberry GEN/200 - FOUNDATIONS FOR GENERAL EDUCATION AND PROFESSIONAL SUCCESS March 3, 2014 DALYNN CAMPBELL Abstract My Personal Responsibility Essay is a brief look into my background, major changes in the educational landscape, my reasons for attending college, my motivation, and the obstacles that would hinder me from completing my goal. . Table of Contents Table of Contents ....................…………...................................................................................... 2 Personal Responsibility Essay……...................……..…............................................................... 3 References….................................................................................................................................. 6 . Personal Responsibility Essay My arrival at the University of Phoenix came a few years after my retirement plans ran into a pothole. When I say pothole, I should really say canyon. Though, all things considered, my retirement goals were nothing to write home about. I was a migrant nuclear worker, which means I worked infrequently with no substantial retirement benefits. This 30 year continuum had me exhausting my savings during the dry times, thus my earnings never amounted to much towards retirement. I lived an unbalanced middle class existence. My plan for retirement was to simply survive until I was able to collect social security, sell my home, move...
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...Personal Responsibility Essay, due in Week Five, which includes the following: Define what personal responsibility means to you. Explain the relationship between personal responsibility and college success. Include a preliminary plan to practice personal responsibility in your education. This week, using the Center for Writing Excellence resources, provide the thesis statement and informal outline for your Personal Responsibility Essay assignment, due in Week Five. Notes: Define Personal Responsibility: It takes self discipline and the willingness to accept full responsibility for everything you do. Having willpower and discipline to get done the tasks at hand, regardless of the struggle. It starts with personal responsibility in order to be successful. Relationship between Personal Responsibility and College Success: It takes a great work ethic and motivation to achieve college success. With the lack of personal responsibility college success is not possible. It takes willpower and willingness to be successful in school work. My plan to use Personal Responsibility to be successful in my education: I will show motivation in everything I do, and keep my work ethic to the highest standard. Beginning assignments as soon as they are given, never letting myself procastinate, and taking pride in the work that I provide are three example of how I plan to succeed. Thesis Statement: Even though Some successfull people dont have personal responsibility, personal...
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...Are We to Blame For Obesity? Fast food is becoming a major issue world-wide causing problems and disease such as obesity, asthma and diabetes. Fast food has become an addiction to almost the entire nation but who is to blame? In the articles, “Don’t Blame the Eater” by David Zinczenko and “What You Eat Is Your Business” by Radley Balko two different viewpoints are expressed on fast food and what it does to the individual as well as the economy. In the articles both authors show their awareness of the problem at hand but point the finger at two very different groups of people using factual and statistical evidence as well as personal opinions. Although both arguments are very valid, David Zinkzenko’s essay provides the reader with a lot more than opinion. The title in every essay brings it to life. A spunky title will keep your audience yearning to read what the writer has to say, while a boring title will readers doped up on energy drinks to get through what the writer has to say. David Zinczenko’s title, “Don’t Blame the Eater” catches the reader’s eyes. The title as a whole has the audience asking questions about the “eater”, and who blames them? However, the title of the second article, “What You Eat Is Your Business”, by Radley Blanko comes off as arrogant and insensitive to the reader. An example of a less arrogant title would be, “All You Can Eat”, this title would be more pleasing to the reader allowing them to imagine an all you can eat buffet. As a reader, I take immediate...
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...I have been dealing and working with personal planning all my life, as a child and even as a teenager I was making dreams and setting goals for life. On occasion these goals are far stretched and sometimes even fairy-tale like, we tend to see life through a rose-colored glass, not taking into account the many sidetracks life throws our way. I feel that at that stage in life our goals tend to be less focused and somewhat unreachable. However, the process of growing up, or maturing, tends organized and center our goals, we learn to make compromises and set goals for our goals. There are different types of goals, short term and long term. I have learned to separate the many goals I have into three main categories: family, professional and personal. First, my family goals include how I see myself and how I see my family and the paths that life takes us. Being a mother and a wife to me has been the most important goal which I have set in the past, and now that the wonderful role of motherhood has taken me in full speed I have learned to adjust my goals and plans. The most important aspect of being a mother, and the long term that I have set for myself, is to be able to raise happy and healthy children that are able to face the world in a positive manner. In order to achieve my long term goals and plans for my family is that I have set a few short term goals that I believe will help in the process. One of my short term goal as a mother is to be able to be a constant parent for my...
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...personal responsibilities and decisions don't have a huge impact on others, personal responsibility is vital in day to day life, team activity, and career development. From a very young age the concepts of sharing, respect, and kindness become instilled repetitively. The golden rule is one of the primary and most influential ways personal responsibility begins. “Do unto others, as you would have them do unto you” isn’t just something that works in kindergarten, it lasts a lifetime. These initial values that we instill into the youth of society are what will transcend into their adolescent lives as students, athletes, or members of an organization and ultimately their professional lives with career beginnings and development. When I think of personal responsibility, I think accountability. Personal responsibility is not just taking the credit when everything is going as planned, it is also finding the solution and helping others along the way when nothing is going as planned. Responsibility itself is something that can be divided into multiple concepts in itself. One of which Ann Allen goes on to split into centralized and decentralized. For a group setting, as members there is a sense of centralized responsibility. Each group member is responsible for contributing their part. At the same time, there is a sense of decentralized responsibility. Allen writes, “Decentralization allows for greater shared responsibility,” which is how group work happens (“Responsibility & School...
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...Pitfalls/Conflict Having a well designed team can enhance productivity and can be key to the overall organizational effectiveness. This being said even well designed teams can fall prey to the pitfalls and conflict that are present any time you bring people together and our Target Logistics Team is not immune from these problems. We will look at some of these potential problems and suggest solutions that can be employed to reduce their negative impact. Problems that are particular to the Logistics Team are Social Loafing and Free Riding, Groupthink, and Conflict. Social Loafing People in groups often do not work as hard as they do when alone, this is known as social loafing. This can have a negative effect on productivity where the team performance may increase with the size of the team, but the rate of increase in performance is negatively accelerated. Because of the size of our team we are likely to experience the Social Loafing Effect (Figure 1), which is that the greater number of people who work on a group task, the smaller the contribution any one member of the group will make. Within our Logistics Team social loafing is often experienced on the assembly line during the daily unload. It always starts out with everyone contributing relatively evenly, but usually another 2 or 3 guys are splintered on the schedule to come in half an hour after everyone else. Once they join the assembly line the pace often still stays the same. (with more people, it should have been...
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...Baseline PM 584 Project Baseline I am working for an online service provider that serves as a data center provider for small and midsize businesses. The company specializes in industries such as health care, insurance, financial, real estate, manufacturing, and hosting markets, and a big demand for managed servers and disaster recovery. The data center and infrastructure network has had a 30% growth rate since 2003. Christi Medical has the latest technical security tools, including encryption, and a daily log review and physical security at the data centers. The company has the ultimate layered security solution system. The documentation of the security policy, contracts and the hosting provider clarifies the responsibilities, breach notifications protocol, and concerns that are administrative. Encrypted HIPPA allows the data to be protected, and in transit with hardware- based encryption. As a project manager working with Christi Medical provides the safe environment and compliance to meet financial record keeping and reporting. Under the Sarbanes- Oxley this administrative practice refers to which records should be stored and for how long. The data storage uses preservation and accuracy of electronic records. This recommended retention for records storage, and the type of records stored, includes communications My company’s online HIPPA compliant data center annually passes an OCR audit with 100% compliance.. A project manager has to comply with the United States...
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...RESPONSIBILITY ACCOUNTING Management Accounting - Responsibility Accounting Planning & control are essential for achieving good results in any business. Firstly, a budget is prepared and, secondly, actual results are compared with budgeted ones. Any difference is made responsibility of the key individuals who were involved in (i) setting standards, (ii) given necessary resources and (iii) powers to use them. In order to streamline the process, the entire organization is broken into various types of centers mainly cost centre, revenue centre, profit center and investment centre. The organizational budget is divided on these lines and passed on to the concerned managers. Actual results are collected and displayed in the same form for comparison. Difference, if any, are highlighted and brought to the notice of the management. This process is called Responsibility Accounting. RESPONSIBILITY CENTRE A FORMAL DEFINITION OF RESPONSIBILITY ACCOUNTING Responsibility accounting involves the creation of responsibility centres. A responsibility centre may be defined as an organization unit for whose performance a manager is held accountable. Responsibility accounting enables accountability for financial results and outcomes to be allocated to individuals throughout the organization. The objective is to measure the result of each responsibility center. It involves accumulating costs and revenues for each responsibility centre so that deviation from performance target (typically...
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...www.StudentWhiz.com 1. Why are budgets useful in the planning process? • They enable the budget committee to earn their paycheck. • They provide management with information about the company's past performance. • They help communicate goals and provide a basis for evaluation. • They guarantee the company will be profitable if it meets its objectives. 2. A common starting point in the budgeting process is • a clean slate, with no expectations. • expected future net income. • past performance. • to motivate the sales force. Want more details? Download now ACC 561 Week 5 Quiz 3. Which of the following statements about budget acceptance in an organization is true? • The most widely accepted budget by the organization is the one prepared by top management. • Budgets are hardly ever accepted by anyone except top management. • The most widely accepted budget by the organization is the one prepared by the department heads. • Budgets have a greater chance of acceptance if all levels of management have provided input into the budgeting process. 4. What is budgetary control? • The process of providing information on budget differences to lower level managers • Another name for a flexible budget • The degree to which the CFO controls the budget • The use of budgets in controlling operations Quiz Answers just a click away ACC 561 Week 1 Quiz 5. The comparison of differences between actual and planned results • is done by the external auditors. • appears...
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...The case study relates a situation whereby a convention center inadvertently double books the exhibit hall , breakout meeting space and food beverage service for two concurrent conventions due to a change in sales administration personnel Ultimately , the responsibility for the situation lies with the convention bureau and its Director of Sales . The sales manager who booked the large , VIP group had done so with faith that the details would be properly recorded in the booking software so that other sales managers would not be able to double book the space . It would be the responsibility of the Director of Sales to ensure that in the case of personnel changes , an audit was done to identify such problems before it became too late to solve them . Depending upon the management structure at the convention bureau , there would probably also be a Director of Catering and Convention Services , whose job is to oversee the execution of all group bookings . If there were a separate convention services manager who handled the group after the sales manager signed the contract , then responsibility would fall to the Catering and Convention Services department as this person would be responsible for the details of the meeting and properly inputting the meeting space requirements into the software program used In to remedy this situation , the first thing that must happen is to find alternate meeting space for the second group booked . It is assumed the contract used by the convention...
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...achieve cost effectiveness and achieve high level of quality. Now, the goals of the company’s marketing organization and company’s 25 managers of manufacturing plant are different. The marketing division is treated as a “Revenue Centre” so the goal of the company’s marketing organization is to maximize revenue and sell what is produced. They are evaluated on the basis of meeting the set sale unit and sales dollar targets. Also, they are responsible for making demand forecasts which are used to decide the production levels of each plant. Whereas, the manufacturing plant have the goal to just meet the budget figure and fulfill the quota allocated to each plant. Since they are considered as an expense center and there is no immediate monetary reward to compensate for increase in responsibilities or requirements, they are not concerned to achieve higher efficiency and thus, want to exceed the targets. 2.Evaluate the current management planning and control system for the manufacturing plants and the marketing departments. What are the strengths and weaknesses? Ans. By 1989, the company was one of the world’s largest cloth manufacturer. Following are the Strengths: a)The company has been profitable for a long time. b)The company has 25 manufacturing units of its own and 20 independent contractors producing efficiently and reliably for them. c)They have developed a learning curve to develop the production’s standard hour. d)1-to-5 scale reward system can motivate employees...
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...Chapter Thirteen Meetings, Conventions/Exhibitions, and Event Management Key Teaching Elements/Chapter Outline Historical Review Page Object. |People have gathered for meetings for hundreds of years. Meeting purposes have been and are very |446 | | |diverse. | | | |Associations go back many centuries; they originated in the United States at the beginning of the 18th |446 | | |century. Associations spend about $53.5 billion holding meetings and conventions that attract 22.6 | | | |million attendees (approximately). | | | |The hospitality and tourism industry consists of a number of associations. (These are listed on page |446 |1 | |446 in the student text.) Associations offer the following benefits for members: government/political | | | |voice, marketing avenues, member services, and networking. | | | Types of Meetings |Meetings are conferences, workshops, seminars, or other events designed to bring people together in |447 |2, 3 | |order to exchange information. There are various forms that meetings can take – Clinic...
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