MANAGEMENT CONTROL SYSTEM

Management Control : Concept, Nature, Scope and Implementation, Purpose and Importance, Impact of Inadequate Controls, Management Control Process, Requirement of effective Control System, Organisation Structure, Organization Climate.

Mechanism of Management Control Process : Types of Control, Information needs in the Management Control Process, Overview of Management Control Techniques i.e. Budgetary Control, Standard Costing, Financial Ratio Analysis, Internal Audit, Performance Budgeting, Zero base budgeting, Budgetary planning and procedures, Flexible Budgeting, Statistical Quality Control, PERT, CPM.

Management Control Structure : Responsibility Center, Responsibility Accounting, Cost Center, Profit center, Investment center, Inter-divisional transfer pricing, measurement of divisional performance, Evaluation of Performance – qualitative and quantitative.

Aspects of Management Control : Motivation and Morale, goal congruency, Management Reporting System, Strategic Planning and Management Control, participative and responsive management