I am busy learning the concerpt of Cost Center and P/L these days. It is essential to understand business. I don’t have time to update this blog and may fail to write, but I will update you with the study result.
If you have any book or URL that can help me to understand these basic fiancial and accounting terms, please refer it to me. I know very little about it now.
Some random quotes from the web:
For purposes of accumulating costs and for program management, each distinct project, regardless of source of funding, is identified by one or more cost centers. Each cost center is assigned a distinct seven-digit number. The first three digits identify the performing OU and division and the last three digits identify the source of financing which supports the work. The fourth digit is an optional designator for use by the OU.
Source: NIST Fund Structure