Explain about the internal controls of benchmarking, Financial Management

Explain about the Internal controls of benchmarking


"Comprises control environment and control procedures. It includes all the procedures (internal controls) and policies adopted by the management of an entity to help in achieving management's objective of ensuring, as far as practicable,

  • including adherence to management policies
  • orderly and efficient conduct of its business
  • safeguarding of assets
  • prevention and detection of error and fraud
  • accuracy and completeness of the accounting records and
  • Timely preparation of reliable information.

Internal controls may be incorporated within computerised accounting systems. Though internal control system extends beyond those matters which relate directly to accounting system."


Posted Date: 9/3/2013 2:24:08 AM | Location : United States

Related Discussions:- Explain about the internal controls of benchmarking, Assignment Help, Ask Question on Explain about the internal controls of benchmarking, Get Answer, Expert's Help, Explain about the internal controls of benchmarking Discussions

Write discussion on Explain about the internal controls of benchmarking
Your posts are moderated
Related Questions
QUESTION (a) "A promissory note is an instrument in writing (not being a blank or a currency note) containing an unconditional undertaking, signed by the maker, to pay a certai

Functions of a Stock Exchange The stock exchange is a market place where investors trade in securities. It is a competitive market involving large numbers of buyers and sellers

Fund Managers or the Asset Management Company (amc) The role of fund managers is highly significant in the mutual fund operations. So far, this role is being played by the Mutu

Explain Interest rate risk Interest rate risk considers to interest rates changing not favorably before the swap dealer can lay off with an opposing counterparty the unplaced

Credit rating agencies carry out credit rating. Companies appoint these agencies to assign credit rating for their corporate issues. The rating agencies may condu

DISCOUNTING TECHNIQUE is also called present value technique. It is the process of calculating the present value of cash flows.  Discounting is determining the present value of a

Present V alue This is the current value of a future payment or stream of payments. The present value is calculated by applying a discount (capitalization) rate to the

Discuss the different ways political events in a host country may affect local operations of an MNC. Answer:  The answer can be organized based on the three types of political ri

Stream of Expected Returns Investment returns can take many forms. An investor must consider all these forms to evaluate an investment option accurately. A brief description of

What are the negative consequences of a company holding too much cash? A company holding so much cash would be giving up the opportunity to invest much more in income producing a