What was the process of controlling the financial condition in the state ?
Answers
Answer:
Controlling involves ensuring that performance does not deviate from standards. Controlling consists of five steps:
(1) set standards,
(2) measure performance,
(3) compare performance to standards,
(4) determine the reasons for deviations and then (5) take corrective action as needed
Explanation:
Financial controls are the procedures, policies, and means by which an organization. monitors and controls the direction, allocation, and usage of its financial resources. Financial controls are at the very core of resource management and operational efficiency in any organization.
Answer:
Financial control has now become an essential part of any company's finances. Hence, it is very important to understand the meaning of financial control, its objectives and benefits, and the steps that must be taken if it is to be implement correctly.