Cost Variance Analysis and Management Control

Cost Variance Analysis and Management Control

Discussion Topic:

Discuss the differences between efficiency and effectiveness.

Chapter 16 Management Control Process
LEARNING OBJECTIVES
After studying this chapter, you should be able to do the following:
•    1. Define a budget and describe how management uses them.
•    2. Explain the concept of management control and how budgeting is used as part of it.
•    3. List sources of differences between budgeted and actual amounts.
•    4. Explain the budgeting process.
•    5. List the major types of budgets and describe how they are used.
•    6. Describe the concept of zero-base budgeting.
•    7. Explain how benchmarking is performed at the department level.

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