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In accounting, the controlling account (also known as an adjustment or control account [1]) is an account in the general ledger for which a corresponding subsidiary ledger has been created. The subsidiary ledger allows for tracking transactions within the controlling account in more detail.
Internal control, as defined by accounting and auditing, is a process for assuring of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.
The tasks and functions of controlling may be transferred to management accounting in supply chains, supplemented by a cross-company approach. However, the past-oriented aspects of the traditional concept are inappropriate. Due to the strategic importance of supply-chain management, forward-looking control requirements must be taken into account.
FIFO and LIFO accounting are methods used in managing inventory and financial matters involving the amount of money a company has to have tied up within inventory of produced goods, raw materials, parts, components, or feedstocks. They are used to manage assumptions of costs related to inventory, stock repurchases (if purchased at different ...
In other cases, controlling for a non-confounding variable may cause underestimation of the true causal effect of the explanatory variables on an outcome (e.g. when controlling for a mediator or its descendant). [2] [3] Counterfactual reasoning mitigates the influence of confounders without this drawback. [3]
Control is checking current performance against pre-determined standards contained in the plans, with a view to ensuring adequate progress and satisfactory performance. According to Harold Koontz: Controlling is the measurement and correction of performance to make sure that enterprise objectives and the plans devised to attain them are ...
These same workers also tend to be opposed to overhauling the system. As the study pointed out, they remain loyal to “intervention techniques that employ confrontation and coercion — techniques that contradict evidence-based practice.” Those with “a strong 12-step orientation” tended to hold research-supported approaches in low regard.
An optimal control is a set of differential equations describing the paths of the control variables that minimize the cost function. The optimal control can be derived using Pontryagin's maximum principle (a necessary condition also known as Pontryagin's minimum principle or simply Pontryagin's principle), [ 8 ] or by solving the Hamilton ...