It is the purpose of this module to show the elements involved in closing the loop on the overall strategic and long-range planning, short-term planning, and budgeting process and how these techniques can be used to enhance the probability of achieving organizational goals and objectives. To accomplish this effectively, the organization needs to implement accurate and timely reporting systems so that management can control the execution of the planning and budget process and take timely action to fix the cause of any problems or concerns so that they do not occur again. In addition, management needs to know what is working well so that they can make necessary changes to take advantage of these situations.
Upon successful completion of Analyzing Today's Business Operations: Operational Reporting Considerations, the user should be able to:recognize the concept of "responsibility accounting" and "control over internal control",identify the various responsibility centers within an organization, andrecognize different variances.
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