chap9

42問 • 1年前

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The process of ascertaining whether organizational objectives have been achieved; if not, why not; and determining what activities should then be taken to achieve objectives better in the future.

Controlling

Which are expressed in quantity or monetary terms.

Sales Targets

Which are expressed in quantity or quality.

Production Targets

Which are expressed in terms of rate of absences.

Worker Attendance

Which is expressed in number of accidents for given periods.

Safety Record

Which are expressed in quantity or monetary terms for given periods.

Supplies Used

When management anticipates problems and prevents their occurrence, the type of control measure undertaken.

Feedforward Control

This type of control provides the assurance that the required human and nonhuman resources are in place before operations begin.

Feedforward Control

When operations are already ongoing and activities to detect variances are made.

Concurrent Control

When information is gathered about a completed activity, and in order that evaluation and steps for improvement are derived, feedback control is undertaken.

Feedback Control

Aimed at improving future activities are features of feedback control.

Corrective Actions

Provides the basic control mechanism for the organization.

Strategic Plan

The planning horizon differs from company to company.

Long-Range Financial Plan

LRT

Light Rail Transit

Indicates the expenditures, revenues, or profits planned for some future period regarding operations.

Operating Budget

Measures employee performance. As such, it provides employees with a guide on how to do their jobs better in the future.

Performance Appraisal

Function as effective checks on new policies and programs.

Performance Appraisals

Pertain to those that contain data on various developments within the firm.

Statistical Reports

The framework within which the objectives must be pursued.

Policies

A plan that describes the exact series of actions to be taken in a given situation.

Procedure

This will reveal important details about the company's performance.

Review of Financial Statements

Contains information about the company's assets, liabilities, and capital accounts.

Balance Sheet

Comparing the current with previous ones may reveal important changes, which, in turn, provide clues to performance.

Balance Sheet

Contains information about the company's gross income, expenses, and profits.

Income Statement

When also compared with previous years', changes in figures will help management determine if it did well.

Income Statements

A more elaborate approach used in controlling activities.

Financial Ratio Analysis

Under this method, one account appearing in the financial statement is paired with another to constitute a ratio.

Financial Ratio Analysis

These ratios assess the ability of a company to meet its current obligations.

Liquidity Ratios

This shows the extent to which current assets of the company can cover its current liabilities.

Current Ratio

This is a measure of the firm's ability to pay off short-term obligations with the use of current assets and without relying on the sale of inventories.

Acid-Test Ratio

These ratios show how effectively certain assets or liabilities are being used in the production of goods and services.

Efficiency Ratios

This ratio measures the number of times an inventory is turned over (or sold) each year.

Inventory Turnover Ratio

This ratio is used to measure utilization of the company's investment in its fixed assets, such as its plant and equipment

Fixed Asset Turnover

This is a group of ratios designed to assess the balance of financing obtained through debt and equity sources.

Financial Leverage Ratios

This ratio shows how much of the firm's assets are financed by debt.

Debt to Total Assets Ratio

This ratio measures the number of times that earnings before interest and taxes cover or exceed the company's interest expense.

Times Interest Earned Ratio

These ratios measure how much operating income or net income a company is able to generate in relation to its assets, owner's equity, and sales.

Profitability Ratios

This ratio compares the net profit to the level of sales.

Profit Margin Ratio

This ratio shows how much income the company produces for every peso invested in assets.

Return on Assets Ratio

This ratio measures the returns on the owner's investment.

Return on Equity Ratio

Is one undertaken to determine the efficiency and effectivity of the activities of an organization.

Internal Audit

If a comprehensive internal audit cannot be availed of for some reason, the use of a checklist for . may be used.

Symptoms of Inadequate Control

Enumeration

Sabrina Mikhaela Canindo · 42問 · 1年前

Enumeration