difference between cost centre and department
Posted: Mon Jul 16, 2007 11:13 am
hi
what is the difference between cost centre and department?
what is the difference between cost centre and department?
the formal definition of cost center and department is
<b>Cost Center</b>
A logical grouping of one or more related activities and/or organizational units into a common pool for the purpose of identifying the cost incurred for performing all of those activities.
<b>Department</b>
A department is a part of a larger organization with a specific responsibility.
main difference is cost center have location and department, and department is a sub set of cost center