Advantages and Disadvantages of Management Audit

Management audit refers to efficient evaluation of the general performance of the management of an organization. The purpose is to review the efficiency and effectiveness......

Managerial and Business Advantages of Management Information System

Management Information System (MIS) offers the following advantages to the managers: MIS helps businesses optimize business procedures, address information needs of employees and diverse stakeholders......

Management Information System for Business Management

Management Information System (MIS) is a broadly used and applied term for a three-resource system required for effective organization management. A decision-maker requires up-to-date, accurate......

Steps of Program Evaluation and Review Technique

Program Evaluation and Review Technique (PERT) is an important network technique useful in planning and controlling. The main goal of PERT is to reduce the......

Responsibility Accounting for Management Reporting

Responsibility accounting is a method of accounting in which diverse sections, divisions and departments of an organization are set up as ‘Responsibility Centres’. Responsibility accounting......

Advantages and Limitations of Ratio Analysis in Business management

Ratio analysis is very useful tool to a business management to decide the performance of a business entity and to take cost controlling measures as......

Significance of Ratio Analysis in Business Management

Ratio Analysis refers to analysis of financial statements through calculation of ratios. Ratio analysis is a standard to understand the financial weakness and soundness of......

Budgetary Control in Management

Budgetary control is a method of managerial control in which all operations are designed in advance in the form of budgets and definite results are......

Return on Investment in Modern Management Techniques

Return on Investment (RoI) is a useful method which provides the basic yardstick for measuring whether or not invested capital has been used effectively for......

Advantages of Budgetary Control in Business Management

The most significant advantage of a budgetary control is to facilitate management to demeanor business in the most proficient manner because budgets are prepared to......

Breakeven Analysis in Management Control

Breakeven analysis is a method used by managers to study the connection among costs, volume and profits. It determines the possible profit and losses at......

Importance of Statistical Reports for Management Control

Statistical analysis in the form of averages, percentages, ratios, correlation, etc., present useful information to the managers regarding performance of the organization in various areas.......