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.
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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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Nov 19th, 2015
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