MANAGEMENT CONTROL SYSTEM Definition

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MANAGEMENT CONTROL SYSTEM is essentially a strategic tool for holding managers accountable and responsible for their performance. Existence of such a system also provides feedback for managers to know how they perform, in which direction the organization is heading, and what type of course correction may be required to stay on course.

Learn new Accounting Terms

COD is Cash On Delivery; which is exactly what it means.

ARREARS is an unpaid overdue debt, or the state of being behind in payments, e.g. an account in arrears.

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