Department

Bureau
A particular department, agency, or office, often accompanied by the name of a specific agency, such as the Federal Bureau of Investigation (FBI). Bureaus are typically entities within a larger organization or government body, designed to manage specific types of tasks or responsibilities.
Department
A discrete section of an organization under the responsibility of a department manager; separate costs and, where appropriate, income are allocated or apportioned to the department for the purposes of costing, performance appraisal, and control.
Function in Accounting
A function in accounting refers to a specific section or department of an organization that carries out discrete activities managed by a director or manager. Functional budgets are often created for these sections. Examples include production, sales, finance, and personnel.
Investment Centre
An investment centre is a unit or division within an organization where capital expenditures are made under the specific oversight of management responsible for that centre. This focus allows for detailed accountability and efficient resource management.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.