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Feedback Control System
Feedback is information about actual achievements or actual results produced within the organization (e.g. management control reports) with the purpose of helping with the control decisions. Feedback is internal in that, it is concerned with measuring the output of the system itself. Most common types of control systems in a business such as budgetary control, stock control and the production control system are based on feedback control cycles. Feedback can be positive or negative.(a) Negative feedback:
This is information which indicates that the system is deviating from its planned or prescribed course and that some re-adjustment is necessary to bring it back on course. It is referred to as negative since the control action would need to reverse the direction or movement of the system towards its planned course.(b) Positive feedback:
Positive feedback results in control action that causes actual results to maintain or increase their path of deviation fromplanned results.
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cases with solution..
Explain the practical application of differential costing with examples
directing[ budgeting
Product life cycle Every product has a life cycle. The life cycle of a product vary from months to various years. For example in the case of cameras photocopying machines etc.
Examples
Cash management is related along with the management of: Cash outflows and inflows of the firm Cash flows inside the firm Cash balances as financing deficit and inve
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