The difference between cost & profit centres

IB Business Management: The difference between cost & profit centres

To be able to account for the different revenue streams generated by a business and the various costs incurred, businesses often establish cost centres or profit centres within the organization.A cost centre is a division of a business that has responsibility for its own operational costs. The cost centre is held accountable for its departmental expenditure. They can help managers to collect and use cost data effectively,...

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