Publisher's Synopsis
This compact and concise textbook gives a clear analyses of the principles and practices of management control systems which are generally being practiced by the companies all over the world. Divided into seven sections, the book explains various approaches and design of management control system. It moves on with a detailed description of key success variables as control indicators, and explains goals, strategies and organization for adaptive control, divisional autonomy and responsibility. While describing the management tools and processes, the book explains in detail, the strategic planning and programming processes, budgeting and budgetary control, standard costing and variance analysis, transfer pricing, reward system and management control of operations. The text also contains various aspects of strategic cost management, cost analysis for managerial decision-making and control actions. It also explains how auditing can be used by the management in its various departments and subsidiaries as a tool of control system. The book concludes with the discussion on current issues and their relationship with management control system. Primarily intended for the postgraduate students of management, the book can be equally beneficial for the commerce students, researchers, accounts professionals, and corporate policy and decision-makers. KEY FEATURES: Contains glossary of terms to explain the core concepts. Appendices at the back of the book enclosing related tables and figures of the topics discussed. Illustrative examples in between the sections to help in analytical understanding of the subject.
