Week 5 MGT: Discussion 1 Steps of Control 200 words total
Explain why the four steps involved in the control function are important. How are the various ratios used by accountants and managers differently in the control function? Support your claims with specific examples from required materials and/or other scholarly resources, and properly cite any references. Your initial post should be a minimum of 200 words.Solution Preview
Steps in management control
Introduction
Controlling is one of the most crucial functions of any management. This implies that a manager or an accountant should have this trait for effectiveness. A manager who exercises appropriate control over the activities of his subordinates can quickly get the goals achieved. There are four main steps which are applied in management. These steps include the following. The first is establishing the standards of the performance, evaluating the actual performance, matching the real return to the standards, and finally assuming the corrective action (Wirtz and Bernd pg36-54).
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