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

SCA see SUSTAINABLE COMPETITIVE ADVANTAGE.

INFLATION is an increase in the general price level of goods and services; alternatively, a decrease in the purchasing power of the dollar or other currency.

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