HTT/220 A balance scorecard is something that was developed in the early 1990’s by two men at the Harvard School of Business‚ Robert Kaplan and David Norton. It is a management system that enables an organization to set‚ track‚ and achieve its main business strategies and objectives. After the business strategies are developed‚ they are deployed and tracked through the Four Legs of the Balanced Scorecard. These four legs
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SPAN OF CONTROL Corporations often see a shift in executive teams throughout the course of their existence. Often times when during a company merger‚ acquisition‚ or a vote by the Board of Directors to replace the company’s leadership‚ a new style of management will emerge. Different leaders have various ideas on how the management of the company is to be handled. Some CEO’s like to have a small executive team‚ with separate areas of the business combined into segments and receive reporting through
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in a timely manner. Because of the self-policing nature of the accounts and the regulatory restrictions of the Internal Revenue Service and the Department of Labor‚ controls over payroll are normally stronger than in other areas (Louwers‚ Ramsay‚ Sinason‚ & & Strawser‚ 2007). The four elements of a payroll internal control system are personnel‚ supervision‚ timekeeping‚ and record keeping. The personnel or human resources department should have authority to add new employees to the payroll
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CONTROL PROCESS Submitted By: Priyank Das Payal Dudani Nisha Purushothaman Ami Shah Ruchi Shah CONTROL Control is the process of ensuring that actual activities conform to planned activities. Characteristics
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Chapter 5: Internal Control over Financial Reporting 1. Internal control is a process designed to guarantee the achievement of the objectives of reliable financial reporting‚ compliance with laws and regulations and ineffective and inefficient operations. FALSE 2. Auditing standards require that the auditor exercise professional judgment and maintain professional skepticism throughout the planning and performance of the audit. TRUE 3. If internal controls are not enforced they are useless
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Tool control affects safety. Leaving a tool in an aircraft‚ engine or a piece of support equipment is not just an inconvenience‚ it is a safety risk. Realizing this‚ in our aircraft maintenance department superiors enforce some sort of tool control procedures. They realize that establishing and enforcing a tool control program can provide numerous benefits‚ the foremost of which is safety. The effect of Foreign Object Debris (FOD) on maintenance costs can be significant. For example‚ the cost to
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1)Historical perspective on public control of business. 2)Constitutional framework of state control of business. What is business? • The buying or selling of goods/services/activity of making money. However‚ the term is too vague. • According to F.C Hooper: “business means a whole complex field of commerce and industry‚ the basic industries‚ processing and manufacturing industries and the network of ancillary services‚ distribution‚ banking‚ insurance‚ transport and so on‚ which serve and inter-penetrate
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Internal Controls Internal controls are all the procedures and measures companies put in place in order to achieve two specific goals related to accounting (Kieso‚ Kimmel‚ & Weygandt‚ 2011). The first goal is the protection against loss of assets from various sources such as theft or accounting error (Kieso‚ Kimmel‚ & Weygandt‚ 2011). Companies‚ clients and shareholders must have assurance that there is suitable control over all business assets like inventory and bank accounts all the
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BUDGETARY CONTROL Budget is a plan which is expressed in terms of definite members: Eg. of a plan – Production has to be increased in the next quarter Eg. of a budget – Production has to improve by 10000 units from the last quarter to the next quarter. Definitions: According to ICMA “budget is a financial & / quantitative statements‚ prepared & approved prior to a defined period of time of the policy to be pursued during that period for the purpose of attaining a given objective. They may
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CORPORATE CONTROL AND FIRM PERFORMANCE: DOES THE TYPE OF OWNERS MATTER? Muhammad Agung Prabowo* Universitas Sebelas Maret‚ Surakarta‚ Indonesia Abstract: The paper extends the ownership study by examining the different types of large shareholders in relation to its impact on organizational outcome in Indonesia using a dataset consisting of 190 non-financial companies listed in Jakarta Stock Exchange in 2002. The study investigates the effect of family ownership‚ foreign blockholder‚ domestic institutional
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