ACCY 304 - IntroductiontoControlSystems Session3...

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Introduction to Control Systems Session 3 January 26, 2011 1 Department of Accountancy University of Illinois at Urbana-Champaign
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2 What is control? Control should help an organization reach its  goals Those elements of an organization (including  resources, systems, processes, culture, structure  and tasks) that, taken together, support people in  the achievement of the organization’s objectives  (COCO 1995) Department of Accountancy University of Illinois at Urbana-Champaign
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3 What is the purpose of control? Organizations are formed to meet a set of goals The role of control: to help organizations achieve  their goals Goal-seeking Need for control Department of Accountancy University of Illinois at Urbana-Champaign
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4 Control objectives  Effectiveness and efficiency of operations Reliability of internal and external reporting Compliance with applicable laws and regulations and  internal policies Department of Accountancy University of Illinois at Urbana-Champaign
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This note was uploaded on 08/18/2011 for the course ACCY 304 taught by Professor Bol during the Spring '11 term at University of Illinois at Urbana–Champaign.

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ACCY 304 - IntroductiontoControlSystems Session3...

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