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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components in order to have proper control. Managers need to be aware of each event that happens within the organization‚ which may include employee behaviors‚ group interaction‚ and customer service. As managers try to balance the components of an organization‚ he or she must pay adequate attention to what makes the place work effectively. Maintaining effectiveness‚ productivity‚ and good morale is called being in control of the situation. Although being in control is essential‚ the possibility of
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January 18‚ 2013 How do Administrative Controls demonstrate “due care”? Administrative controls consist of approved written policies‚ procedures‚ standards and guidelines. Administrative controls form the basis for the selection and implementation of logical and physical controls. Logical and physical controls are manifestations of administrative controls. Some industry sectors have policies‚ procedures‚ standards and guidelines that must be followed – the Payment Card Industry (PCI)
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INVENTORY CONTROL Inventory is any stock of economic resources that is stored for future us e it is commonly used to store materials‚ in process packing materials‚ spares etc‚ stocked in order to meet respected demand or distribution in the future. Although inventory of any materials is an idle resources the sense‚ it is not meant for immediate use. It is necessary to maintain some inventories lot the smooth functioning f the organization. Inventories are essential: 1. For adequate customer
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The metaphors throughout the novel represent symbols for things that are needs or wants within Jane’s life‚ seen through food‚ fire and burning‚ the chestnut tree and the moon. Gothic imagery appears frequently throughout the novel‚ as Bronte has employed this element to become a technique to achieve the flow of the narrative. Through several important scenes‚ the gothic imagery is prevalent. In the red room‚ it is described to be dark like blood‚ along with a mirror that provides ‘subdued‚ broken
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salaries and wages and employee benefits‚ and often referred to as labor costs. Payroll costs have both the fixed element and the variable element that is called semi-variable cost‚ meaning that a portion of it should change with short-term changes in business volume‚ and another portion should not. 4. Controllable costs – are those that can be changed in the short term. Variable costs are normally controllable. 5. Non-controllable costs – are those that cannot normally be changed in the
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Internal Control Procedures ASSIGNMENT 1. Who is ultimately responsible for the corporate governance of an organisation? The Board of Directors 2. Who else plays a part in corporate governance? Shareholders‚ auditors and other stakeholders. 3. Who are the stakeholders? A person‚ group or organisation that has interest or concern in an organisation. 4. List the corporate governance requirements a company needs to adhere to: The company has an adequate system of internal control in
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Gun control refers to laws or policies that regulate the manufacture‚ sale‚ transfer‚ possession‚ modification‚ or use of firearms by civilians. Some U.S. states have already adopted a variety of these gun control laws. In a society where gun violence and crimes is widely prevalent‚ there has been a widespread fear of guns. In light of current events and gun crimes‚ there has been controversy about the idea of gun control. These new laws that are intended to be enforce not only affect people who
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Task Investigation Essay on Internal Control Submit your completed Task to your teacher at the first lesson of Term 3 The Scenario Kay Slater‚ an experienced surfie and owner of Surfies and Boardies‚ has employed nine staff in her business to make and sell surf boards‚ and surfing equipment and assist with administration. She has employed her staff as follows: * Five of the employees work in the factory where valuable equipment is stored and used. Of these‚ one is responsible for the inventory
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effectively direct? This should be the concern of every business‚ but often time this is not taken into consideration by many businesses no matter the size. It is particularly important for small business to understand this concept; it determines the number of levels and mangers an organization has. The span of control refers only to direct reports‚ rather than to an entire corporate hierarchy. Even though a CEO may technically control hundreds of employees‚ his or her span of control would only include
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