“As a practical matter, planning and control mean exactly the same thing.” Do you agree? Explain.

Q: Which of the following is not an aspect of action control? Select one: O a. To define objectives O…

A: Action control refers to controlling activities within an organization to achieve the desired…

Q: Look at the definition of “internal control” For each internal control objective, what does it cover…

A: Introduction: Internal control refers to the controlling mechanism and efficiency measurement…

Q: How do the three levels of computer ethics—pop, para, and theoretical—differ?

A:

Q: "hich of the following is not a principle ôf internal Control?

A: Internal controls are the controls used to safeguard the business from internal frauds. Internal…

Q: How does the external analysis affect other components of the strategic management process?

A: Setting objectives, examining the competitive environment, studying the internal organization,…

Q: Explain the Diamond model of delegated monitoring

A: The Diamond model is referred to as the model which describes the competitive advantage of the…

Q: If you were given complete authority in the matter, how would you propose that GAAP should be…

A: Generally Accepted Accounting Principles (GAAP):  A set of accounting principles, practices and…

Q: What is another name for tactical planning?

A: Tactical planning is referred as the planning which involves the operations, initiatives and actions…

Q: What is the definition of internal control, and what are thefive components of COSO’s internal…

A:

Q: In your own words, why do we need control plans?

A: Control plan is a document that states the measures to maintain the quality of the products. It…

Q: “CVP analysis is both simple and simplistic. If you want realistic analysis to underpin your…

A: CVP analysis refers to the cost-volume-profit analysis which describes the change in the operating…

Q: Describe Musharaka literally and technically and what are the areas where it can be used…

A: The Arabic word “Musharaka” literally means “to share”, “to participate in,” or “to mix” the shares…

Q: What are the similarities of the Autocratic Model, custodial Model, Supportive Model, Collegial…

A: Management and owners have official authority to govern the work and the workers that work for them…

Q: That event of management's desired objectives is an example of:

A: Efficiency: Efficiency is the ability to accomplish the result with the usage of the least amount of…

Q: control is the process of setting goals and determining way to achieve them true false

A: Control is a function of management in accounting which helps to check errors in order to take…

Q: Is a good strategic plan detail-oriented?

A:

Q: Which of the following is NOT an example of a decisional role according to Mintzberg? Select one: O…

A: According to Mintzberg, at the managerial level, the most crucial and important part is to make the…

Q: Explain the differences between planning, directing, and controlling.

A: Planning: It means thinking in advance what to do, when to do and how the actions would take place…

Q: Define and describe what is meant by internal control.

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

Q: How can you tell the difference between planning and control decisions

A: The difference between planning and control decisions will be shown:

Q: Very behavioral and very qualitative aspects are advantages of .... O a. Financial control O b.…

A: Very behavioral and very qualitative aspects means to have a working environment where everyone are…

Q: Do you think sustainability is best managed as part of an informal or a formal type of management…

A: Sustainability is the way of management focuses on areas like environmental protection etc so that…

Q: Explain prudence concept with example.

A: Prudence principle- According to this concept, businesses should instantly recognize all future…

Q: Identify a major advantage of the FIFO method for purposes of planning and control.

A: First-In First-Out (FIFO): First-in first-out (FIFO) method is the method in which cost are assigned…

Q: How does the reward system for a strategic-based system differ from the traditional approach?

A: Strategic-based performance management system: A strategic-based performance management system turns…

Q: Compare and contrast the structured design approach and the object-oriented approach. Which do you…

A: Given question is about the difference between the structured design approach and the object…

Q: Distinguish planning decisions from control decisions?

A: Decision Making: Management of the business has to make good decisions for the growth and success of…

Q: -which plan would you recommend?

A: A       B                     0-7 8         COST 200000   COST   140000 160000…

Q: What is the internal control principle?

A: Internal control means to control and check everything related to management. It ensures that the…

Q: What are two examples of the types of management issues that can be addressed by cvp analysis?

A: CVP or Cost-volume-profit analysis is a cost accounting method of analysing the effect of cost and…

Q: In what ways do turnkey systems have advantages and disadvantages that you should know about?

A: Introduction: Under a turnkey system, the firm designs, constructs, runs, and transfers a production…

Q: Discuss internal control consideration.

A: Internal control is a method to ensure the integrity of financial information, targets and…

Q: Explain Prudence concept and provide example.

A: Following accounting concepts & principles are used in accounting:     Business entity principle…

Q: The objectives of internal control are to

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What are the strengths and weaknesses of Agency theory and stakeholders?

A: Agency Theory A theory that is used to explain and resolve issues in the relationship between…

Q: Which one of the following is not a part of Feasibility Analysis in relation to system development?…

A: A practical range to which a project can be performed successfully is termed feasibility. It is used…

Q: Explain how a possible conflict between neutrality and prudence could arise and how the conflict…

A: Neutrality and Prudence are two characteristics of reliability of accounting information. Neutrality…

Management by Exception

A manager’s job is a very tough one. A manager needs to look at the various areas of work and as a manager he has to look after two or more important jobs or activities at the same time for the growth of the business. In order to do all these things in an effective manner, a manager must adopt or practice different management styles and tactics.