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Financial Terms | |
management control |
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Definition of management controlmanagement controlThis is difficult to define in a few words—indeed, an
Related Terms:management control system (MCS)an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans, Abusive Earnings ManagementThe use of various forms of gimmickry to distort a company's true financial performance in order to achieve a desired result. Abusive Earnings ManagementA characterization used by the Securities and Exchange activity-based management (ABM)a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received Asset/liability managementAlso called surplus management, the task of managing funds of a financial Bottom-up equity management styleA management style that de-emphasizes the significance of economic Budgetary controlThe process of ensuring that actual financial results are in line with targets – see variance ![]() Cash management billVery short maturity bills that the Treasury occasionally sells because its cash Certified Management Accountant (CMA)a professional designation in the area of management accounting that Configuration controlVerifying that a delivered product matches authorizing Control50% of the outstanding votes plus one vote. Control accountAn account maintained in the general ledger that holds the balance without the detail. The detail is maintained in a subsidiary ledger. control charta graphical presentation of the results of a control premiumthe additional value inherent in the control interest as contrasted to a minority interest, which reflects its power of control controllable costa cost over which a manager has the ability to authorize incurrence or directly influence magnitude Controllable profitThe profit made by a division after deducting only those expenses that can be controlled by the controllable variancethe budget variance of the two variance approach to analyzing overhead variances Controlled disbursementA service that provides for a single presentation of checks each day (typically in Controlled foreign corporation (CFC)A foreign corporation whose voting stock is more than 50% owned ControllerThe corporate manager responsible for the firm's accounting activities. controllerthe chief accountant (in a corporation) who is responsible controllerOfficer responsible for budgeting, accounting, and auditing. controllingthe process of exerting managerial influence on Corporate financial managementThe application of financial principals within a corporation to create and Cost controlThe process of either reducing costs while maintaining the same level of productivity or maintaining costs while increasing productivity. cost control systema logical structure of formal and/or informal cost management system (CMS)a set of formal methods Cutoff controlA procedure for ensuring that transaction processing is completed Demand Management PolicyFiscal or monetary policy designed to influence aggregate demand for goods and services. DLOC (discount for lack of control)an amount or percentage deducted from a pro rata share of the value of 100% of an equity interest in a business, to reflect the absence of some or all of the powers of control. Dupont system of financial controlHighlights the fact that return on assets (ROA) can be expressed in terms Earnings ManagementThe active manipulation of earnings toward a predetermined target. Exchange controlsGovernmental restrictions on the purchase of foreign currencies by domestic citizens or Financial controlThe management of a firm's costs and expenses in order to control them in relation to Foreign exchange controlsVarious forms of controls imposed by a government on the purchase/sale of Immigration Reform and Control Act of 1986A federal Act requiring all employers having at least four employees to verify the identity and employment Institute of Management Accountants (IMA)an organization composed of individuals interested in the field of management accounting; it coordinates the Certified management internal accounting controlsRefers to forms used and procedures internal controlany measure used by management to protect Managementmanagement refers to the individuals in an entity that have the authority and the responsibility to manage the entity. The positions of these individuals, and their titles, vary from one entity to another and, to some extent, from one country to another depending on the local laws and customs. Thus, when the context requires it, the term includes the board of directors or committees of the board which are designated to oversee certain matters (e.g., audit committee). Management accountingThe production of financial and non-financial information used in planning for the future; making decisions about products, services, prices and what costs to incur; and ensuring that plans are implemented and achieved. management accountinga discipline that includes almost Management Accounting Guidelines (MAGs)pronouncements of the Society of management Accountants of Management buyout (MBO)Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout (MBO)Acquisition of the firm by its own management in a leveraged buyout. Management/closely held sharesPercentage of shares held by persons closely related to a company, as management expense ratio (MER)The total expenses expressed as an annualized percentage of daily average net assets. MER does not include brokerage fees and commissions, which are also payable by the Fund. Management feeAn investment advisory fee charged by the financial advisor to a fund based on the fund's management feeThe fee paid to the fund’s manager for supervising the administration of the fund. management information system (MIS)a structure of interrelated elements that collects, organizes, and communicates management stylethe preference of a manager in how he/she interacts with other stakeholders in the organization; Money managementRelated: Investment management. noncontrollable variancethe fixed overhead volume variance; open-book managementa philosophy about increasing a firm’s performance by involving all workers and by ensuring Operational Earnings Managementmanagement actions taken in the effort to create stable Passive investment managementBuying a well-diversified portfolio to represent a broad-based market performance management systema system reflecting the entire package of decisions regarding performance measurement and evaluation Portfolio managementRelated: Investment management quality controlthe implementation of all practices and policies Real Actions (Earnings) ManagementInvolves operational steps and not simply acceleration Risk controlled arbitrageA self-funding, self-hedged series of transactions that generally utilize mortgage Risk managementThe process of identifying and evaluating risks and selecting and managing techniques to Shelf life controlDeliberate usage of the oldest items first, in order to avoid exceeding Society of Management Accountants of Canadathe professional body representing an influential and diverse Statement on Management Accounting (SMA)a pronouncement developed and issued by the management statistical process control (SPC)the use of control techniques that are based on the theory that a process has natural variations in it over time, but uncommon variations Strategic management accountingThe provision and analysis of management accounting data about a business and its competitors, which is of use in the development and monitoring of strategy (Simmonds). strategic resource managementorganizational planning for the deployment of resources to create value for customers and shareholders; key varibles in the process include the management of information and the management of change in response to threats and opportunities supply-chain managementthe cooperative strategic planning, Surplus managementRelated: asset management synchronous managementthe use of all techniques that help an organization achieve its goals Top-down equity management styleA management style that begins with an assessment of the overall total quality management (TQM)a structural system for creating organization-wide participation in planning and implementing a continuous improvement process that exceeds Value-based managementA variety of approaches that emphasize increasing shareholder value as the primary goal of every business. Visual controlThe visual inspection of inventory levels, enabled by the use of Wage/Price ControlsAn incomes policy in which wages and prices are constrained by law not to rise by more than a specified percentage. Working capital managementThe management of current assets and current liabilities to maximize shortterm liquidity. BONDPARA system that monitors and evaluates the performance of a fixed-income portfolio , as well as the centralizationa management style that exists when top management environmental constraintany limitation on strategy options Except for opinionAn auditor's opinion reflecting the fact that the auditor was unable to audit certain areas gross margin, or gross profitThis first-line measure of profit Holding companyA corporation that owns enough voting stock in another firm to control management and Performance sharesShares of stock given to managers on the basis of performance as measured by earnings profit moduleThis concept refers to a separate source of revenue and quality audita review of product design activities (although Related PartyAn entity whose management or operating policies can be controlled or significantly takeoverthe acquisition of managerial control of the corporation Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |