Question
Why do we create Profit Centers? What are the key components of Profit Center
Answers
The main aim of creating a Profit Center in Controlling is to analyze the cost of a product line or a business unit.
You can also generate profit and loss accounts according to Profit Center and also generate balance sheets however Profit center should only be used for internal reporting purposes.
The key components of a profit center includes- name of the profit center, the controlling area under which it is assigned, time period, person responsible for the profit center, standard hierarchy, etc.   Your Comment




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