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
Which ratios would a banker be most interested in when considering whether to approve an application for a short-term business loan? Explain. Bankers and another lenders use li

Q. What do you mean by Present Value of a Future Sum? The present value of a future sum will be worth less than the future sum because one foregoes the opportunity to invest an

Contractual savings institutions Contractual savings institutions obtain funds at periodic intervals on a contractual basis. The industry is classified into two main groups ins

Ratios A great number of ratios might be appropriate for this purpose depending on the specific kind of financial performance which is being compared. Amongst those appropriate

The Project to be Addressed by the Paper: You have just graduated from CCI's MBA program and have secured a position as a fund manager for a well known investment banking house

Project your company's income statement and assets for five years. Identify your assumptions for major categories. Determine how you will finance your balance sheet (long-term de

Explain the term- Interest cover Interest cover =Profit before interest and tax (PBIT)/ Interest payable(no. of times) Interest cover represents the safety of earnings tha

Roxanne invested $560,000 in a new business 7 years ago. The business was expected to bring in $8,000 each month for the next 26 years (in excess of all costs). The annual cost of

Identify the parties by name that have an obligation: a. Buyer/Alpha hears a rumor that the toys have not been manufactured according to the expected specifications for such t

Accountants should not reverse the adjustment of prepaid insurance to recognize insurance expense at the end of the accounting period because: Answer a. . doing so results in