Waht is month end closing and what is the process for closing
Cost Centre is a segment of a business or other organization
in which costs can be segregated, with the head of that
segment being held accountable for expenses. Cost centers
are established in large organizations to identify
responsibility and to control costs.
Each department/division, project, office, factory, section
in a department, a process line in a factory can be a cost
centre. it may differ from company to company and may not be
uniform over different industries, companies, etc. The
purpose of cost centre segmentation is identification,
fixation of responsibility and control of costs as also
matching revenue-cost wherever possible. It also helps in
employee performance appraisal.
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