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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.
Activity based costing versus traditional costing Following are the main differences between activity based costing system and traditional costing system: Explain 1) Und
what is the computation procedure of accounting rate of return?
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Correlation coefficient (r) Correlation coefficient measures the degree of association between two variables such as the cost and the activity level. r = nΣxy - Σx Σy
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Definition of Cost reduction Cost reduction is planned positive approach to reducing expenditure. Cost reduction exercises are planned campaigns to cut expenditure. It is a con
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