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able to judge where to pay & not pay
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Why management accounting effective tool for financial control?
You need to keep track of your finances in order to keep a budget. If everyone is spending whatever they want, your financial control goes away and you will be in debt.
What classification of accounting is most concerned with the use of economic and financial information to plan and control many of the activities of the entity?
financial accounting
Objective of financial management?
Financial management is a discipline that allows manages and others to be more in control of their finances. They get to learn how to invest and make profits.
Why auditor's reports are important to users of financial statement?
to control the finance activitiies
What is nature and scope of financial management?
1.estimating financial requriments. 2.selecting a source of finance. 3.selecting a pattern of investment. 4.proper cash management. 5.implementing financial control. 6.proper use of surplus.
What is the difference between strategic control and financial control?
Define staregic control and financial control
What are the components of control environment in financial reporting?
there are 3 component of financial environment. there are financial manager, financial markets and investors ( including creditor).
What is financial planning and control?
Financial planning and control is money management. It is the process of appropriating money and ensuring that one remains within a budget.
Why financial control need to be changed?
to save money.....
What is the meaning of financial statement level risk?
Financial statement level risks are risks of materials misstatement of the financial statements. These are the same for both audit of financial statements and audit of internal control.
Three internal control objectives for financial reporting?
There are actually four internal control objectives of financial reporting. They are 1) Control Environment 2) Risk Assessment 3) Information and Communication Systems 4) Monitoring. These internal control objectives help aid in presenting financial statements that are free of material misstatements. But just because internal control measures are implemented, doesn't mean people cannot circumvent those controls.
Why management accounting effective tool for financial control?
You need to keep track of your finances in order to keep a budget. If everyone is spending whatever they want, your financial control goes away and you will be in debt.
What are some other names of a financial controller?
Financial controllers are also known as comptrollers and Financial Control Officers. This job is centered around managing and overseeing accounting and finances.
What classification of accounting is most concerned with the use of economic and financial information to plan and control many of the activities of the entity?
financial accounting
Objective of financial management?
Financial management is a discipline that allows manages and others to be more in control of their finances. They get to learn how to invest and make profits.
Can a audit be qualified based on internal control on financial reporting?
Can not answer this question - reword it.
What was the first objective identified by COSO's Internal Control?
Reliability of financial reporting.
