A
complex business requires frequent information about operations in order to
plan for the future to control present activities and to evaluate the past
performance of managers, employers and related business segments.
complex business requires frequent information about operations in order to
plan for the future to control present activities and to evaluate the past
performance of managers, employers and related business segments.
To
be successful, management guides the activities of its people in the operations
of the business according to pre-established goals and objectives. Management
guidance takes two forms of control;
be successful, management guides the activities of its people in the operations
of the business according to pre-established goals and objectives. Management
guidance takes two forms of control;
1.) The
management and supervision of behaviour
management and supervision of behaviour
2.) The
evaluation of performance
evaluation of performance
Cost
control is a continuous process that begins with the proposed annual budget.
The budget helps;
control is a continuous process that begins with the proposed annual budget.
The budget helps;
1.) To organise
and coordinate production, and the selling, distribution, service, and
administrative functions.
and coordinate production, and the selling, distribution, service, and
administrative functions.
2.) TO take
maximum advantage of available opportunities.
maximum advantage of available opportunities.
As
the year progresses, management compares actual results with those projected in
the budget and incorporates into the new plan the lesson learnt from its
evaluation of current operations.
the year progresses, management compares actual results with those projected in
the budget and incorporates into the new plan the lesson learnt from its
evaluation of current operations.
Control
refers to management’s effort to influence the actions of individuals who are
responsible for performing task, incurring cost and generating revenues.
Management is a two-phased process; Planning refers to the way that management
plans and want people to perform, while control refers to the procedures
employed to determine whether actual performance complies with these plans.
Through the budget process and accounting control, management establishes
overall company objectives, defines the centres of responsibility, determine specific
objectives for each responsibility centre and design procedures and standards
for reporting and evaluation.
refers to management’s effort to influence the actions of individuals who are
responsible for performing task, incurring cost and generating revenues.
Management is a two-phased process; Planning refers to the way that management
plans and want people to perform, while control refers to the procedures
employed to determine whether actual performance complies with these plans.
Through the budget process and accounting control, management establishes
overall company objectives, defines the centres of responsibility, determine specific
objectives for each responsibility centre and design procedures and standards
for reporting and evaluation.
A
budget segments the business into its components or centres where the
responsible party initiates and control actions.
budget segments the business into its components or centres where the
responsible party initiates and control actions.
Cost
centres are accountable only to expenses, that is, they do not generate
revenue. Examples include accounting departments, human resources department
and similar areas of the business that provide internal service.
centres are accountable only to expenses, that is, they do not generate
revenue. Examples include accounting departments, human resources department
and similar areas of the business that provide internal service.
