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Financial Terms | |
quality control |
Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
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Definition of quality controlquality controlthe implementation of all practices and policies
Related Terms:appraisal costa quality control cost incurred for monitoring failure costa quality control cost associated with goods or inspection timethe time taken to perform quality control activities total quality management (TQM)a structural system for creating organization-wide participation in planning and implementing a continuous improvement process that exceeds accepted quality level (AQL)the maximum limit for the number of defects or errors in a process Budgetary controlThe process of ensuring that actual financial results are in line with targets – see variance 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 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 of qualityThe difference between the actual costs of production, selling and service and the costs that would be incurred if there were no failures during production or usage of products or services. Cutoff controlA procedure for ensuring that transaction processing is completed 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 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 Flight to qualityThe tendency of investors to move towards safer, government bonds during periods of high 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 internal accounting controlsRefers to forms used and procedures internal controlany measure used by management to protect management controlThis is difficult to define in a few words—indeed, an management control system (MCS)an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans, noncontrollable variancethe fixed overhead volume variance; process quality yieldthe proportion of good units that resulted from the activities expended qualityall the characteristics of a product or service that quality assurancethe process of determining that product quality audita review of product design activities (although Quality optionAlso called the swap option, the seller's choice of deliverables in Treasury Bond and Treasury Quality spreadAlso called credit spread, the spread between Treasury securities and non-Treasury securities Risk controlled arbitrageA self-funding, self-hedged series of transactions that generally utilize mortgage Shelf life controlDeliberate usage of the oldest items first, in order to avoid exceeding 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 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. BONDPARA system that monitors and evaluates the performance of a fixed-income portfolio , as well as the critical success factors (CSF)any item (such as quality, customer defective unita unit that has been rejected at a control inspection ISO 9000a comprehensive series of international quality standards spoiled unita unit that is rejected at a control inspection Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |