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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.
Explain the practical application of differential costing with examples
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Explain Profitability ratios in relation to sales a) Gross profit ratio b) Net profit ratio c) Operating ratio d) Operating profit ratio e) Expenses ratio
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importance of ratio analysis
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X's Strategy X will like to divide his play between his rows in such a way that his expected winnings or losses when Y plays the first column will be equal to his expected winn
A firm wants to buy a new machine and the following quotation has been received. Cost of machine US$100 000 Freight and insurance US$5 000 The new machine will last for five
What is Direct material cost variance It can be defined as the difference between the standard costs of direct material specified and the actual cost of direct material used.
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