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ADVANTAGES OF "ABC ANALYSIS"
The advantages derived from this analysis and its consequent follow up are summarized below:
1) Facilities selective control and thereby save valuable time of busy executives.
2) Eliminates lot of unnecessary paper work involved in various other control procedures. Tangible savings can be affected in this behalf by following Two-Bin System which is very closely related with this technique.
3) Facilitates Inventory Control and control over usage of stores materials which ultimately results in cost control.
What is Budgetary control Budgetary control is the process of determining various budgeted figures for the enterprises for the future period and then comparing the budgeted fi
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Planning A business must plan for its success. What do we understand by business planning? It is about thinking in advance -- to decide on a course of the action to reach
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What does it mean when we say consistency is the central feature of economic rationality?
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bases of classifying budgets
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