Lecture Fundamentals of cost accounting - Chapter 12: Fundamentals of management control systems. In the previous chapters we considered how information could be developed to help managers make decisions. In this chapter we will discuss the fundamentals of management control systems.
Operations and industrial modeling and management have a long history
dating back to the first Industrial Revolution. Scheduling, inventory control,
production planning, projects management, control charts, statistical
records, customer satisfaction questionnaires, rankings and benchmarking.
are some of the tools used for the purpose of better managing operations
This book was motivated by the author’s experience in teaching accounting at
postgraduate level (MBA and MSc) at Aston Business School and in-house training
provided for non-financial managers in many organizations to introduce them to
the use of financial tools and techniques.
Operations and industrial modeling and management have a long history dating back to the first Industrial Revolution. Scheduling, inventory control, production planning, projects management, control charts, statistical records, customer satisfaction questionnaires, rankings and benchmarking. are some of the tools used for the purpose of better managing operations and services.
Bureaucratic controlis a formal control approach that operates in a cycle and is characterized by written guidelines and controls. Involves: the application of standards to assess performance, the application of corrective actions to regulate performance and bring it back to the level of the standards.
Purpose: Based on theoretical studies of state management on the prevention of drugs, analysis and assessment of the state of the state management on the prevention of drugs in Vietnam, fellows establish and implement the scientific foundation to propose practical solutions to improve system ef ciency of state management on the prevention of drugs in Vietnam during the integration period.
(BQ) In the previous chapters we considered how information could be developed to help managers make decisions. In this chapter we will discuss the fundamentals of management control systems. After studying this chapter you should be able to: Explain the role of a management control system, identify the advantages and disadvantages of decentralization, describe and explain the basic framework for management control systems.
In this chapter, students will be able to understand: explain the concept of activity-based cost management; use the hierarchy of costs to manage costs; describe how the actions of customers and suppliers affect a firm’s costs; use activity-based costing methods to assess customer and supplier costs;...
This chapter extends our study of management control by explaining how standard costs are used by managers to control costs. It demonstrates how to compute direct materials, direct labor, and variable overhead variances. The chapter also defines some nonfinancial performance measures that are frequently used by companies.
Finally, a line of research has been
developed which has emphasised the organisation’s cultural and anthropological aspects as part of its
control system, either as an internal variable that conditions the behaviour of individuals, their
relationships and their motivation, or else as a metaphor, in other words an ideology that must be
transmitted and communicated to individuals.
Chapter 16 - Controlling the organisation. The main contents of this chapter include all of the following: Control as a management function, the control process, types of control, managerial approaches to control, assessing control systems.
Chapter 10 entitled 'Quality control' explains the elements of the control process, and how control charts can be used to monitor processes in order that they are performing in an acceptable manner. Quality control is a process that measures output relative to a standard and takes corrective action when output does not meet standard. Inspection can be used as part of an effort to improve process yield. One measure of process yield is the ratio of output of good product to the total output.
After studying this chapter, you will know: Discuss the strategic importance of quality, define accounting’s role in the management & control of quality, develop a comprehensive framework for the management & control of quality, understand alternative approaches for setting performance expectations,...
Chapter 18 - Strategic performance measurement: cost centers, profit centers, and the balanced scorecard. In this chapter, the learning objectives are: Identify the objectives of management control; identify the types of management control systems; explain the objectives and applications of strategic performance measurement in three common strategic business units: cost centers, revenue centers, and profit centers;…
This textbook grew out of a number of undergraduate and graduate courses on
logistics and supply chain management that we have taught to engineering, computer
science, andmanagement science students.The goal of these courses is to give students
a solid understanding of the analytical tools available to reduce costs and improve
service levels in logistics systems. For several years, the lack of a suitable textbook
forced us tomake use of a number ofmonographs and scientiﬁc paperswhich tended to
be beyond the level ofmost students.
Risk management is one of the most important areas of project management that must be considered. Companies that want to compete with one another have adopted project management as a method of managing their companies. They have had to learn how to deﬁne and control project scope, schedule, and cost as baselines, and they have had to learn all of the control elements necessary to make successful projects. But many of these companies have yet to learn to manage the risks involved in managing a project.
A well-functioning public sector that delivers quality public services consistent with citizen preferences
and that fosters private market-led growth while managing fiscal resources prudently is
considered critical to the World Bank’s mission of poverty alleviation and the achievement of
the Millennium Development Goals.