Conditions necessary in a control cycle, Managerial Accounting

Assignment Help:

Conditions necessary in a control cycle

There are four necessary conditions that must be satisfied before any system can be said to be controlled. Such are as follows:

(1) Objective of the process being controlled must exist

(2) The output of the procedure should be measurable in terms of the dimensions defined by the objective.

(3) A predictive model of the process being controlled is required so that causes for the non-attainment of objective can be identified and proposed corrective action analyzed.

(4) There should be potential of taking action therefore deviation of attainment from objective can be reduced.


Related Discussions:- Conditions necessary in a control cycle

Ranking of decision packages , Ranking of Decision Packages The rankin...

Ranking of Decision Packages The ranking procedure is employed to establish a rank priority of decision packages in the organization. Throughout the ranking procedure managers

Relevant costs for non-routine decisions, RELEVANT COSTS FOR NON-ROUTINE DE...

RELEVANT COSTS FOR NON-ROUTINE DECISIONS A relevant cost is a cost that is appropriate to a specific management decision. To be relevant, a cost should be: 1) Future cost

Analysis of credit file, Analysis of Credit File: Credit file is a compila...

Analysis of Credit File: Credit file is a compilation of each the relevant credit information of the customer. All the credit information collected throughout the credit informati

Job order costing, a cost-allocation base may be any of the following excep...

a cost-allocation base may be any of the following except: a. cost driver b. cost pool c. way to link indirect cost to a cost object d. nonfinancial quantity

What are the factors which led to the development of abc, What are the fact...

What are the factors which led to the development of ABC: 1) Traditional costing fails to capture cause and effect relationship 2) Traditional costing often fails to highlig

What is the main purpose of cost centre, Explain the main purpose of cost c...

Explain the main purpose of cost centre The main purpose of cost centre is two fields. 1. Recovery of cost: costs are collected, classified into two field in respect of

Absorption and marginal costing, opening stock unit were 8500 and closing s...

opening stock unit were 8500 and closing stock units were 6750.frofit of 61200 using managerial costing.fixed overhead absorbed rate was 3 pr unit.what is the profit using absorpti

Information system project management, Hi there, i am looking an expert to ...

Hi there, i am looking an expert to make my assignments for this subject and i do have other subjects as well. Let me know how you can go through my assignment.

Working capital management, literature review of effects of working capital...

literature review of effects of working capital on financial performance?

FIFO, I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO

I WANT TO KNOW THE RULES FOR DOING LIFO AND FIFO

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd