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

What are the advantages of cost accounting, What are the Advantages of cost...

What are the Advantages of cost accounting: 1. Cost accounting as an aid to management: cost accounting helps the management in carrying out of its functions, planning, organ

Cost anlysis, briefly discuss five characteristics of relevant cost

briefly discuss five characteristics of relevant cost

Choosing order quantity , CHOOSING ORDER QUANTITY (SIZE—PROBLEM) The ob...

CHOOSING ORDER QUANTITY (SIZE—PROBLEM) The objective of inventory decisions is usually to minimize total inventory costs to the company. Costs are ascribed to all elements whic

What are the disadvantages of incremental budgeting, Disadvantages of incre...

Disadvantages of incremental budgeting a) Incremental budgeting suppose activities and method of working will continue in the same way b) No incentive for developing their d

Explain about customer oriented pricing, Customer oriented or perceived val...

Customer oriented or perceived value pricing There is an increasing trend to price the product on the basis of the customer's perception of its value. This method takes into ac

Time series analysis, Conduct a time series analysis base on the three year...

Conduct a time series analysis base on the three years accounting ratios

Monitor, Monitor Let's start by having you think about the controlling ...

Monitor Let's start by having you think about the controlling your car (aka "driving")! Your steering, acceleration, and braking are not the random things to be done; they are

Status resources, Status Resources We had classified constraints as sca...

Status Resources We had classified constraints as scarce and abundant, depending respectively on whether or not the optimum solution "consumes" the entire available amount of t

Motives for holding cash, The firm's require holding cash may be attributed...

The firm's require holding cash may be attributed to the three motives specified below: The transaction motive The precautionary motive The speculative motive.

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