What is the three-step process of controlling?

Q: What constitutes a dicontinued operations.?

A: Definition:   Income statement: The financial statement which reports revenues and expenses from…

Q: Explain the Activity Hierarchies with example?

A: Activity hierarchy is a system that is used in the activity based account to keep track on the…

Q: What are the four broad objectives of internal control?

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Q: What are the five control implications of distributed data processing?

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Q: What are the major functions performed by the OE/S process?  Explain each functions.

A: Order-to-cash process or revenue process is the process undertaken for making sales and receiving…

Q: What is the role of the data control group?

A: The question is based on the concept of control group in experiment.

Q: What are the five components of internal control? Briefly explain each component.

A: Auditing is a process of inspecting the financial accounts of a company in order to determine the…

Q: What are the primary objectives of a batch control?

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Q: Explain the Diamond model of delegated monitoring

A: The Diamond model is referred to as the model which describes the competitive advantage of the…

Q: What are the four modifying assumptions that guide designers and auditors of internal control…

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Q: What is the definition of internal control, and what are thefive components of COSO’s internal…

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Q: What are the five components of Internal Control?

A: Five components of internal control are: Control environment - It refers to top management attitude…

Q: What are the objectives of application controls?

A: An application control consists of compactness and validity checks, identification, authentication,…

Q: What is internalization?

A: Internalization: It happens when an individual directs an exchange itself, as opposed to sending it…

Q: What is Mark-up chain?

A: Introduction: Markup is generally shown as a percentage of the cost or the sale price. The term…

Q: What are the three authorization controls?

A: In accounting and auditing, the term internal control indicates to a set of measures intended to…

Q: What are the five components of internal control? Briefly explain each component?

A: The components of internal controls are explained below :

Q: What are the 3 objectives of Internal Control?

A: Internal controls:                            It is a set of rules, policies and procedures adopted…

Q: What are roll-forward procedures? Provide some examples

A: Roll-Forward Procedure: Auditors perform procedure to draw out the conclusion from an interim date…

Q: Define and describe what is meant by internal control.

A: Internal control:   Internal control can be defined as a process to ensure achievement of the…

Q: Control is the process that includes the following except:

A: Control is checking current performance against pre-determined standards contained in the plans,…

Q: What is management by exception?

A: Management by Exception: Management by exception is one of the management styles where the…

Q: What are the categories of processing controls?

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: What is the objective of output controls? List and briefly describe different output controls.

A: Output control guaranteed that the program's result was precise and complete. Output control focuses…

Q: What are the three steps of controlling?

A: Introduction: Controlling is referred as terminal management function because it takes place after…

Q: List the three parts of a control system, and explain how such a system works.

A: Variance: Variance refers to the difference level in the actual cost incurred and standard cost. The…

Q: What are internal controls?

A: Internal Control: Internal control refers to the plan of a company. Implementation of an effective…

Q: What are the major inputs to the MRP system?

A: The preparation of material requirements planning (MRP) is a method for measuring the materials and…

Q: What is a management control system?

A: Management control system:

Q: What are the five control objectives of an operating system?

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Q: What are the components of the Control Environment?

A: Control environment refers to the set of policies, processes, standards, and actions of top-level…

Q: What is management by exception? Give three examples?

A: Management by Exception: Management by exception is the process of finding the deviations in the…

Q: What is a control account?

A: Control account: It is a particular account that is recorded in the general ledger in a summarized…

Q: = three types of controla

A: Control is an activity to monitor and direct the acts of others.

Q: The objectives of internal control are to

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: What are the three internal control objectives?

A: Internal control:  Internal control consists of policies and procedures to  achieve the objectives,…

Q: Is it necessary to have several entries in a control structure? why?

A: Control structure is an amalgamation of the  polices and  procedure , which is implemented to ensure…

Q: What is a run-to-run control?

A: During computer processing, processing controls keep an eye on the quality of accounting results.…

Q: What are the five components of an internal control system?

A: An internal control system is referred to as a set of rules, guidelines, and policies that are…

Q: Describe some common examples of Control Activities.

A: Control activities: Control activities are more concerned about the protection of the resources of…