Help with a business question

timer Asked: Nov 19th, 2015
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Question Description

Explain why the four steps involved in the controlling function are important. Why is a good understanding of the various ratios used by accountants and managers important to the controlling function? Give specific examples.

Tutor Answer

School: Carnegie Mellon University

Thank you for the opportunity to help you with your question!

Controlling function provides management with the ability to establishing standards while measuring performance against these standards, and correcting deviations from standards and plans which then ensures levels of quality. Accountant and managers need to understand the diviations that ratios represent.

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