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Week 12

Controlling is one of the basic management functions that deals with evaluating performance against standards and correcting deviations. Financial control methods include using financial statements, audits, ratio analysis, budgetary control, break-even analysis and accounting to monitor funds. Marketing control ensures customer satisfaction and uses market research and test marketing.

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Zybel Rosales
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10 views

Week 12

Controlling is one of the basic management functions that deals with evaluating performance against standards and correcting deviations. Financial control methods include using financial statements, audits, ratio analysis, budgetary control, break-even analysis and accounting to monitor funds. Marketing control ensures customer satisfaction and uses market research and test marketing.

Uploaded by

Zybel Rosales
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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What is

Controlling?
Controlling

Controlling is one of the basic management functions


that deals with the evaluation and measurement of
performance to check whether or not such performance is
in consonance with the set standards and benchmarks
established by the organization, and the accompanying
correction of performance deviations.
Control Methods
Financial Control
Financial Control

Financial Control – This is control over the use of


funds and how these will be utilized to gain a profit.
Financial Control Methods

Ways to Accomplish Financial Control:

1. Financial Statements
2. Financial Audits
3. Ratio Analysis
4. Budgetary Control
5. Break-even Analysis
6. Accounting
Financial Control Methods

Financial Statements – These include income statement that details


expenses, income and profit/loss, and balance sheet, which reflects the
company’s net worth.
Financial Control Methods

Financial Audits – These include internal or external financial


examination of books of account to check compliance with policies, legal
requirements, and ethical considerations.
Financial Control Methods

Ratio Analysis – This is the monitoring of a company’s liquidity and


profitability state.
Financial Control Methods

Budgetary Control – This is the process of making budgets and


evaluating actual performance as against approved budget. This keeps an eye
on the overall spending pattern of the organization.
Financial Control Methods

Break-even Analysis – This is an analytical tool to monitor the cost and


profit aspects of management planning.
Financial Control Methods

Accounting – This controls and monitors a company’s financial wellness


by evaluating its assets, liabilities, and cash flow.
Marketing Control
Marketing Control

Marketing Control – This is a system of control


ensuring customer satisfaction in terms of product,
place, price, and promotion.
Marketing Control Methods

Ways to Accomplish Marketing Control:

1. Market Research
2. Test Marketing
Marketing Control Methods

Market Research – This is a tool to elicit customers’ needs and


expectation and ensure on-time delivery.
Marketing Control Methods

Test Marketing – This is used to check consumer acceptance of a new


product, usually through a small-scale marketing scheme.

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