CONTROLLABLE EXPENSE expenses that can be controlled or restrained by management. Some of the costs of doing business can be postponed or spread out over a longer period of time (e.g., personnel costs, travel & entertainment, marketing expense).
OPERATING EFFECTIVENESS is how an internal control was applied, the consistency with which it was applied, and by whom.
FINANCIAL STATEMENT ANALYSIS is analysis of a companys financial statement, usually by accountants or financial analysts. Usually includes indepth financial ratio analysis comparisons over time periods.
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