Explain process of financial control, Financial Management

Assignment Help:

Financial Control: - The establishment as well as use of financial control devices is an important function of financial management. These devices comprise:

  • Budgetary Control
  • Cost Control
  • Ratio Analysis etc.

Process of Financial Control:-

  • Setting the standards
  • Measurement of genuine Performance
  • Comparison of genuine Performance with standards
  • Finding deviations as well as taking remedial actions.

 


Related Discussions:- Explain process of financial control

Graphic presentation of net operating income approach, Q. Graphic Presentat...

Q. Graphic Presentation of Net Operating Income Approach ? Graphic Presentation of NOI (Net Operating Income) Approach: - NOI (Net Operating Income) approach is explained graph

Which is lower for company cost of debt or cost of quality, Which is lower ...

Which is lower for a given company:  the cost of debt or the cost of equity?  Explain.  Ignore taxes in your answer. The cost of debt is all the time less than the cost of equi

Compare and contrast mutual and stockholder, Compare and contrast mutual an...

Compare and contrast mutual and stockholder-owned savings and loan associations. A few savings and loan associations are owned by stockholders, just like commercial banks and ot

What are the techniques of financial management, What are the techniques of...

What are the techniques of financial management There are two widely-discussed techniques: (i) Profit maximisation approach and (ii) Wealth maximisation approach.

Calculate the net present value of a purchase of earthmover, Your construct...

Your construction company is evaluating the proposed acquisition of a new earthmover. A consulting company you hired developed the following analysis last year at a cost to you of

Who owns a credit union? explain, Who owns a credit union? Explain. Cr...

Who owns a credit union? Explain. Credit unions are owned by their members.  When credit union members place money in their credit union, they aren't technically "depositing"

Operating cycle, application of the operating cycle to a vegetable company

application of the operating cycle to a vegetable company

State the term- overtrading, State the term- Overtrading Overtrading ta...

State the term- Overtrading Overtrading takes place when a company has insufficient finance for working capital to support its level of trading. The  company  is  growing  rapi

Proposed pollution control project -memorandum, Memorandum Memo to: Bla...

Memorandum Memo to: Blackwater plc Main Board. Subject: Proposed Pollution Control Project. From: Lower down the hierarchy. Date: That'll be the day. On purely non-

Shareholders and auditors, agency relationship between shareholders and aud...

agency relationship between shareholders and auditors

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