Responsibility Accounting & Transfer Pricing Assignment Help

Responsibility Accounting & Transfer Pricing Assignment Help
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Responsibility Accounting & Transfer Pricing Assignment Help

An Introduction to Responsibility Accounting & Transfer Pricing

Most of the big organizations are decentralized to a large extent. Decentralized is defined as the transfer of responsibility, authority, decision making from the top management to the sub-unit managers. There are multiple advantages to decentralization. A division of organization supply services and goods to the other divisions of the same organization. Alternatively, one department may sell the goods and services of one department to another within the same organization. When the individual divisions are evaluated, a price is established for both goods and services that are sold between the departments. This requires the establishment of the transfer price. This is an important topic of Cost and Management accounting subject and therefore the students often take Responsibility Accounting & Transfer Pricing assignment help from BookMyEssay. This is a complicated topic and the Costing students need the assistance of expert online tutors that is ably provided by us. Transfer price is an internal charge that is established for exchanging goods and services between the responsibility centers of an organization. These prices are removed for the purpose of external reporting. Our online best Australian writers highly qualified and possess huge industry experience too and so they can provide the best Responsibility Accounting & Transfer Pricing assignment writing help. Moreover, the assignments submitted by us are 100% plagiarism free work and error free.

Responsibility Accounting and Transfer Pricing

In a decentralized organization, control is maintained through the responsibility centers. A responsibility center is a set of resources or activities that are assigned to a unit manager. Upward reporting can be achieved by using responsibility accounting, where a unit manager can be held responsible for the resources or the activities that he controls. Responsibility Accounting system depicts the responsibility reports and it flows in upwards direction within the organization and here each successively higher level manager can evaluate the lower level managers’ performance.

There are four kinds of responsibility centers including the following:

  • Cost Center- Manager controls the costs
  • Revenue Center- Manager controls the revenue
  • Profit Center- Manager controls the costs as well as the revenue
  • Investment Center- Manager controls the costs, operating assets, and revenue

Most of the large organizations have the operating departments as well as the service departments. The main objectives of the organization are carried out by the operating departments. Service departments exist for providing assistance to the other departments. Some of the examples of service departments are security, human relations, legal, payroll, etc.

As the service departments lend support to the operating departments. the expenses of the service departments are covered by the revenue generated from the sale of goods and services. Thus, in order to evaluate the complete performance of the organization, service costs should be allocated to the operating departments.

When the exchange of goods and services take place within an organization, an internal charge is established, called the transfer pricing. The general rules regarding transfer pricing are as follows:

  • The maximum price must not be higher than the minimum market price at which goods and services are acquired.
  • The minimum price must not be less than the total of the incremental costs and the opportunity costs

The common approaches used for transfer pricing include the following:

  1. Cost-based, it can be full cost pricing or variable cost
  2. Market-based- charging of open market price for the goods and services
  3. Negotiated- the price is established through the bargaining process between the buying and the selling segment.

In a multinational company when the products are manufactured by one segment in a country and sold to another company, additional transfer pricing considerations are there. The considerations arise due to differences in tariffs, taxes, foreign exchange currency controls, and freight charges.

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