A feedback control system consists of five basic components: (1) input, (2) process being controlled, (3) output, (4) sensing elements, and (5) controller and actuating devices. These five components are illustrated in Figure 1.…

A control system is a set of mechanical or electronic devices that regulates other devices or systems by way of control loops. Typically, control systems are computerized. Control systems are used to enhance production, efficiency and safety in many areas, including: Agriculture. Chemical plants.

four types

Steps Involved in Control Process – Establishing Standards, Measuring Performance, Performance Appraisal and Correcting the Deviations. Basically the process of control involves three steps i.e.- (i) setting up standards (ii) performance appraisal and (iii) corrective measures.

The five components of the internal control framework are control environment, risk assessment, control activities, information and communication, and monitoring. Management and employees must show integrity.

The seven internal control procedures are separation of duties, access controls, physical audits, standardized documentation, trial balances, periodic reconciliations, and approval authority.

The Committee of Sponsoring Organizations has an integrated framework for internal control, the components of which are: Control Environment; Risk Assessment; Information and Communication; Control Activities; and, Monitoring.

Good internal controls are essential to assuring the accomplishment of goals and objectives. They provide reliable financial reporting for management decisions. Good internal controls help ensure efficient and effective operations that accomplish the goals of the unit and still protect employees and assets.

– Human Resource Policies and Practices: The most important aspect of internal control is personnel. If employees are competent and trustworthy, other controls can be absent and reliable financial statements will still result.

Six control procedures protect assets, promote effective operations, and ensure accurate accounting and record keeping: (1) creating a document trail, (2) establishment of responsibilities, (3) segregation or separation of duties, (4) physically protecting assets, (5) establishment of policies and procedures, and (6) …

A good control system must be objective i.e. it must be based on the scientific methods of analysis, and free from the bias, opinions and values of managers; so far as setting standards of performance and comparison of actual performance against standards are concerned.

CONTROL: Six Reasons

• Detects Errors and Irregularities.
• Awareness of Opportunities.
• Increases Productivity.
• Establish Standards.
• Take Corrective Action.
• Performance Vs. Standards.
• Monitor Performance.
• Helps Deal with Changes and Uncertainties.

9 Characteristics of an Effective Control Systems – Explained!

• Accuracy: ADVERTISEMENTS:
• Timeliness: There are many problems that require immediate attention.
• Flexibility: The business and economic environment is highly dynamic in nature.
• Acceptability:
• Integration:
• Economic feasibility:
• Strategic placement:
• Corrective action:

The four basic elements in a control system are:

• the characteristic or condition to be controlled.
• the sensor.
• the comparator.
• the activator.

Scope of controlling in Management

• (i) Control over policies.
• (ii) Control over organization.
• (iii) Control over personnel.
• (iv) Control over wages and salaries.
• (v) Control over costs.
• (vi) Control over methods.
• (vii) Control over capital expenditures.
• (viii) Control over research and development.

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 (see Figure 1, below).

The basic control process, wherever it is found and whatever it is found and whatever it controls, involves three steps: (1) establishing standards. (2) measuring performance against these standards. and (3) correcting deviations from standards and plans.

Concept of Controlling. The word control suggests checking, testing, regulating, verifying or adjusting. The control provides the basis for future action. It also helps in taking corrective action to meet the standards. Controlling is having a need to control other people’s behavior.

The followings are the principles of controlling:

• Objectives: ADVERTISEMENTS:
• Interdependence of Plans and Controls:
• Control Responsibility:
• Principal of Controls being in Conformity to Organisation Pattern:
• Efficiency of Controls:
• Future-oriented Controls:
• Individuality of Controls:
• Strategic Point Control: