Zero-based Budgeting (ZBB) divides organization activities into packages (decision units) and calculates costs of each package from ‘Zero Base’.
The internal control structure of a company consists of the policies and procedures established to provide reasonable assurance that specific entity objectives will be achieved.
Controlling is the job of management where the performance is evaluated according to the plan and if necessary evasive actions are taken so the performance level meets the standard.
For organization to run properly both line and staff member’s contribution is required.
An effective internal control system includes organizational planning of a business and adopts all work-system and process to fulfill the organizational goals.
In accounting, cash includes coins; currency; deposited negotiable instruments such as checks, bank drafts and money orders; amounts in checking and savings accounts and demand certificates of deposit.
Budgetary control is a system for monitoring organization’s process in numerical or monetarily terms.
For designing effective control system a manager must know what needs to be controlled and how often progress needs to be measured.
Feed-forward control is mechanism in a system for preventing problems before they occur by for monitoring performance inputs and reacting so as to maintain an identified level.
The control process is the functional process for organizational control that arises from the goals and strategic plans of the organization.