Explain about the internal controls of benchmarking, Financial Management

Assignment Help:

Explain about the Internal controls of benchmarking

 

"Comprises control environment and control procedures. It includes all the procedures (internal controls) and policies adopted by the management of an entity to help in achieving management's objective of ensuring, as far as practicable,

  • including adherence to management policies
  • orderly and efficient conduct of its business
  • safeguarding of assets
  • prevention and detection of error and fraud
  • accuracy and completeness of the accounting records and
  • Timely preparation of reliable information.

Internal controls may be incorporated within computerised accounting systems. Though internal control system extends beyond those matters which relate directly to accounting system."

 


Related Discussions:- Explain about the internal controls of benchmarking

Financial reporting, Financial Repor ting The process of prepar...

Financial Repor ting The process of preparing the corporation's financial statements in accordance with generally accepted accounting principles. The statements prepare

Determine the basic requirements for a successful jit, What are the basic r...

What are the basic requirements for a successful JIT inventory control system? For a JIT system to be booming the supplier must be willing and capable to deliver materials instan

Explain interest rate risk, Explain Interest rate risk Interest rate r...

Explain Interest rate risk Interest rate risk considers to interest rates changing not favorably before the swap dealer can lay off with an opposing counterparty the unplaced

Why do businesses spend time effort and money, Why do businesses spend time...

Why do businesses spend time, effort, and money to produce forecasts?  Explain. Businesses fail or succeed depending on how well prepared they are to deal with the situations t

Essentials of rating service, Critical investment decisions may be ta...

Critical investment decisions may be taken based on the ratings offered by the credit rating agency. In order to ensure that the rating leads to good investment d

Exchange requirements-, Exchange Requirements To ensure money supply, s...

Exchange Requirements To ensure money supply, some central banks require some or all of its foreign exchange receipts (generally from exports) be exchanged for the local curren

Cost of capital, AThe Nu-Nu Brothers Inc. (NNBI) has the following capital ...

AThe Nu-Nu Brothers Inc. (NNBI) has the following capital structure, which it considers to be optional: Debt 25% Preferred Stock 15% Common Equity 60% NNBI''''s expected net incom

Explain about net working capital concept, Q. Explain about Net Working Cap...

Q. Explain about Net Working Capital Concept? Net Working Capital Concept: - Net working capital demotes to the difference among current assets and current liabilities. Current

Why does money have time value, Why does money have time value? Positiv...

Why does money have time value? Positive interest rates point toward that money has time value.  When one person lets one more borrow money, the first person needs compensation

Domestic bonds, They are issued in the local market by a domestic bor...

They are issued in the local market by a domestic borrower and are usually denominated in the local currency. For example, US companies issuing bonds to US reside

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd