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16 Cards in this Set
- Front
- Back
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a detailed plan for the future, usually expressed in formal quantitative terms
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budget
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a series of steps that are followed to carry out some task in a business
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business process
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the member of the top management team who is responsible for providing timely and relevant data to support planning and control activities and for preparing financial statements for external users.
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chief financial officer (CFO)
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anything that prevents an organization or individual from getting more of what it wants
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constraint
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the process of instituting procedures and then obtaining feedback to ensure that all parts of the organization are functioning effectively and moving toward overall company goals.
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control
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the member of the top management team who is responsible for providing relevant and timely data to managers and for preparing financial statements for external users. Reports to the CFO
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controller
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ensuring that the plan is actually carried out and is appropriately modified as circumstances change.
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controlling
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the system by which a company is directed and controlled. If properly implemented it should proved incentives for top management to pursue objectives that are in the interests of the company and should effectively monitor performance.
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corporate governance
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the delegation of decision-making authority throughout an organization by providing managers with the authority to make decisions relating to their area of responsibility.
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decentralization
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mobilizing people to carry out plans and run routine operations
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directing and motivating
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a software system that integrates data from across an organization into a single centralized database that enables all employees to access a common set of data.
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enterprise system
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a process used by a company to help identify the risks that if faces and to develop responses to those risks that enable the company to be reasonably assured of meeting its goals.
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enterprise risk management
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accounting and other reports that help managers monitor performance and focus on problems and/or opportunities that might otherwise go unnoticed.
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feedback
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the phase of accounting concerned with providing information to stockholders, creditors, and others outside the organization.
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financial accounting
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units of product that have been completed but have not yet been sold to customers.
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finished goods
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a production and inventory control system in which materials are purchased.
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x
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