Management

Program Evaluation and Review Technique (PERT) is an important network technique useful in planning and controlling. The main goal of PERT is to reduce the…

Responsibility accounting is a method of accounting in which diverse sections, divisions and departments of an organization are set up as ‘Responsibility Centres’. Responsibility accounting…

Ratio analysis is very useful tool to business management to decide the performance of a business entity and to take cost controlling measures as and…

Ratio Analysis refers to analysis of financial statements through calculation of ratios. Ratio analysis is a standard to understand the financial weakness and soundness of…

Budgetary control is a method of managerial control in which all operations are designed in advance in the form of budgets and definite results are…

Return on Investment (RoI) is a useful method which provides the basic yardstick for measuring whether or not invested capital has been used effectively for…

The most significant advantage of a budgetary control is to facilitate management to demeanor business in the most proficient manner because budgets are prepared to…

Breakeven analysis is a method used by managers to study the connection among costs, volume and profits. It determines the possible profit and losses at…

Statistical analysis in the form of averages, percentages, ratios, correlation, etc., present useful information to the managers regarding performance of the organization in various areas.…

Personal Observation This is the most traditional method of control. Personal observation enables the manager to collect first-hand information. It is the simplest method to…