Summary
Contents
Subject index
Management Accounting: Principles and Applications adopts a new and accessible approach to helping readers understand how management accounting contributes to decisions in a variety of organizational contexts. This book sets out clear explanations of practical management accounting techniques in the context of the application of these techniques to decisions. It recognizes practice through case studies and summarizes published research. Uniquely, it examines the analytical and critical issues that often influence decision makers operating within private and public sector organizations.
Management Accounting and the Control Process – 1
Management Accounting and the Control Process – 1
Key Learning Objectives
By the time you have finished studying this chapter, you should be able to:
- explain the nature of organisational control;
- understand the key nature of control information;
- prepare flexible budgets for control;
- calculate standard costs and variances for purposes of control;
- examine the interpretation of variances and other control data.
The Nature of Organisation Control
This section looks at two aspects of control: the control process itself and feedback concepts.
The Control Process
You have seen in the previous two chapters that all organisations need to engage in planning. Planning is essential in order to achieve the objectives of the organisation. These objectives can be very diverse, and examples are: to achieve a target profit for the ...
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