Abstract
The article offers methodological approaches to the management control system. The given work also identifies its place in control system on the basis of result-oriented method and differentiates between management control and operational control. On the other hand, the notion of system itself presupposes a need for monitoring and feedback to provide the system’s livelihood. Control becomes a function which combines all the other management functions. In terms of consistency control is an indispensable mechanism to supervise the basic management process, consisting in making managerial decisions. The article estimates financial control over performance level. DOI: 10.5901/mjss.2015.v6n3p727
Highlights
In traditional management theory which describes management as a process consisting of a sequence of coherent and interconnected elements, control occupies one of the basic positions as an element which does finalize the process and gives rise to new program decisions [1].Managerial control, which is a pre-requisite for successful economic performance, receives its further development and practical progress in the current context by improving management accounting methods and computer-aided information processing, as well as employing analytical decision making techniques and system-oriented analysis [2, 3, 4].According to American authors the so-called production supervision is usually combined with production planning and control and together they perform the common function of factory operation
The eventual outcome of production department activity being predominantly expressed in terms of monetary financial indicators, the total managerial control is largely based on fiscal control
Using financial control system top management can affect the business activities of the units as well, which is a clear manifestation of the control centrality principle
Summary
Managerial control, which is a pre-requisite for successful economic performance, receives its further development and practical progress in the current context by improving management accounting methods and computer-aided information processing, as well as employing analytical decision making techniques and system-oriented analysis [2, 3, 4]. According to American authors the so-called production supervision is usually combined with production planning and control and together they perform the common function of factory operation. Operational manufacturing supervision aims to fulfill the production plan [5]. In this light, supervising functions are described as an element of productive process. It includes scheduling, production control, bid control system and machine loading supervision
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