Towards a Definition of Financial Control Systems - Softcover

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9781334431319: Towards a Definition of Financial Control Systems

Synopsis

This book introduces a new definition to the term 'financial control system' beyond accounting and budgeting. The author examines the idea that financial control systems are dollar-denominated variables used by management to oversee and regulate organizations. This book argues that traditional definitions are too narrow and do not offer a comprehensive examination of financial controls. The author posits that financial control systems consist of interrelated variables, people, and processes that encapsulate a company's goals and objectives. It explores how these systems provide information, support decision-making, and model organizational performance. The author also discusses the relationship between financial control systems and accounting systems, management control systems, and organizational objectives. This book provides a comprehensive framework for understanding financial control systems and their role in organizational management. It offers valuable insights for managers, accountants, and researchers seeking to improve the effectiveness of financial control systems in their organizations.

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