The set of important assumptions about the organization and its goals and practices that members of the company share
Activity-based costing (ABC)
A method of cost accounting designed to identify streams of activity and then to allocate cost accross paticular business processes according to the amount of time employees devote to paticular actvities
Control that focuses on the use of information about previous results to correct deviations from the acceptable standard
Principle of exception
A managerial prinicpal stating that control is by concentrating on the exceptions or significant deviations from the expected result or standard
The control process before operations begin, including policy and procedures, and rules designed to ensure that planned activities are carried out properly
Profit and loss statement
An itimized financial statement of the income and expenses of a company's operation
A report that shows the financial picture at a company at a given time and itimizes assets, liablities and stockholders equity
A periodic assesment of a company's own planning, orgainizing, leading and controlling processes.
The process of investigating what is being done and compairing the results with the corresponding budget data to verify accomplishmets or remedy the differences. Also called bugetary controlling.
Expected performance for a given goal; a target that establishes a desired performance level, motovates performance and serves as a benchmark against which actual performance is assesed
An evaluation of the effectiveness and efficiency of various systems within an orgaization
Focusing on short-term earnings and profits at the expense of long-term stratigic obligations
Any process that directs the activities of individuals toward the achievement of organizational goals