ACCT.PRINCIPLES (LL)
ACCT.PRINCIPLES (LL)
14th Edition
ISBN: 9781119707110
Author: Weygandt
Publisher: WILEY
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Chapter 25, Problem 16Q
To determine

Responsibility Reports: The outcome of responsibility accounting is called responsibility reports. These include the data about costs incurred and revenues generated by the different levels of functions of an organization.

Budget Reports: The budget reports are the outcome of budgeting process and include the estimated data about the company’s future operations. These are based on the management plans.

To differentiate: The responsibility reports and budget reports.

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ACCT.PRINCIPLES (LL)

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What is Budgeting? | Budgetary control | Advantages & Limitations of Budgeting; Author: Educationleaves;https://www.youtube.com/watch?v=INnPo0QPXf4;License: Standard youtube license