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Accounting for Managers: Interpreting Accounting Information for Decision-Making, Canadian Edition by Eckhard Schumann, Sandy M. Kizan, Paul M. Collier

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CHAPTER 6

Management Control

LEARNING OBJECTIVES

After reading this chapter, you should be able to answer the following questions:

images How does management control fit into the strategic planning process?

images What are the key aspects of a management control system?

images What is the difference between a feedforward and a feedback control system?

images Why are non-financial measures of performance important in a control system?

images What is a balanced scorecard (BSC) and what types of measures are included in the four perspectives of the BSC?

images How can an organization extend the concept of management control to include process improvements?

Management accounting needs to be understood as part of the broader context of management control systems. In this chapter, we describe the theoretical background of management control and management accounting and the most recent developments: non-financial performance measurement ...

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