Dividing an Enterprise into Areas of Responsibilities Using Profit Centers

Objectives
After completing this lesson, you will be able to:

After completing this lesson, you will be able to:

  • Describe the use of general ledger accounting for internal management reporting

Internal Management Reporting

Definition and Use of Profit Center

Universal journal as single source of truth - Profit Center

Example of Profit Center

Bike Company - Example Profit Centers

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