Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Comparing real and planned outcomes and responding to Divergences from Plan
The final phases in the process outlined in figure shown below of comparing real and planned outcomes and responding to divergences from plan symbolize the firm's control procedure. The managerial function of control includes the measurement, reporting and consequent correction of performance in an attempt to make sure that the firm's objectives and plans are attained. In another words, the objective of the control process is to make sure that the work is completed so as to fulfill the original intentions.
To monitor performance, the accountant generates performance reports and represents them to the suitable managers who are responsible for implementing different decisions. Performance reports including a comparison of actual outcomes (real costs and revenues) and planned outcomes (budgeted costs and revenues) must be issued at regular intervals. Performance reports give feedback information by comparing planned and real outcomes. These reports must highlight those activities which do not conform to plans, therefore that managers can devote their scarce time to focusing on such items. This procedure represents the application of management by exception. Effective control needs that corrective action is taken and hence actual outcomes conform to planned outcomes.
Application of Transportation Model In the direct logic, the transportation model looks for the determination of a transportation plan of a particular commodity from a number o
Disadvantages of participatory budgets They consume more time and therefore are more expensive The advantage of management participation may be negated by failure t
This variable deals along with the granting of credit. On one great all the customers are granted credit and conversely, none of them are granted credit irrespective of their credi
Profitability ratios The primary objective of a business under taking is to earn profits. Profit earning is considered necessary for the survival of the business. A business re
The Knapp Company needs to predict the labor cost in producing small carrot patch dolls. The following production information is available: Year Dolls Pr
Cascade Water Company (CWC) currently has 30 000 shares of common stock outstanding, trading at a price of R42 per share.
When to order-Material control If deliveries from suppliers normally take two weeks to arrive, then replenishment orders should be placed with them when the level of stocks rep
The board of a company decides that the strategic objectives of the company should be: * to become established as the best in its field * to be the largest in its market Comment on
5
Explain TWO limitations of using accounting ratios to assess the performance of a firm and suggest how each limitation may be improved
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd