Controls are necessary to check whether the performance conforms to the plans prepared by the organization.

two types of controls : 1.direct control and 2.preventive control. DIRECT CONTROL. 1.Direct control is carried out once the deviations from the plans are observed and then steps are taken to rectify them. ADVANTAGES -control at all time. -flexible in operation. -reliable results -secure -unwavering in application. -supportive -economical -friendly in operation -efficient -effective control.

DISADVANTAGES 1.Questionable Assumptions Underlying Direct Control 2.COST FACTOR. =========================== 2.PREVENTIVE CONTROL.

The principle of preventive control is based on the idea that most of the negative deviations from standards can be overcome by applying the fundamentals of management.

Two types of organization audits, the management audit and the enterprise self-audit, could be used. a.The certified management audit, and b.the enterprise self-audit. ADVANTAGES. THE AUDITS are used to prevent undesirable events, errors and other occurrences than an organisation has determined could have a negative material effect on a process or end product. DISADVANTAGES -time consuming. -COST.

Controls are necessary to check whether the performance conforms to the plans prepared by the organization. This chapter examined the necessity of overall control. In this context, two types of controls were discussed: direct control and preventive control. Direct control is carried out once the deviations from the plans are observed and then steps are taken to rectify them. The causes of negative deviation and direct control were discussed. The principle of preventive control is based on the idea that most of the negative deviations from standards can be overcome by applying the fundamentals of management. The assumptions and advantages of preventive control were discussed in the chapter. Two types of organization audits, the management audit and the enterprise self-audit, were discussed. The certified management audit, its benefits and problems regarding its application were also discussed. Finally, we examined the enterprise self-audit, its procedure, and its contribution to management.

Reporting,
that is keeping those to whom the executive is responsible informed as to what is going on, which thus includes keeping himself and his subordinates informed through records, research, and inspection;
This function, closely related to the coordinating function, consists of keeping those to whom you are responsible informed as to what is going on. It is essential that competent managers keep the information flowing, especially in this age when there is so much information being transmitted in so many forms. The reporting function is more than preparing an annual report, quoting statistics, and informing your staff of current developments. The reporting function is almost an evaluation function since it compares how you are doing with what you set out to do. It reviews your objectives and determines to what extent you are meeting your objectives. It consists of more than course numbers or annual statistics, but relates programme direction, policy changes, refinement in objectives, and changes in structures and priorities. It also uses the vertical and horizontal flows of information as presented previously. One of the key elements of the reporting function is the annual report. Such a report gives you the opportunity to summarize programmes, projects, and activities and to provide statistics as well. Such a report can be used as a public information document by having it distributed to other adult education agencies in the community, to your senior levels of management, to your own managers, to your colleagues, and to the press. In addition, it will prove to be a valuable document to satisfy the requests you receive asking about your programme activities.

Management Reporting Formats

By Tom McNulty, eHow Contributor

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Management Rporting
Management reporting has evolved along with technology. What traditionally occurred as verbal reports to leadership within companies has grown into ever-more sophisticated analysis and statistical work product prepared to dig deeper into business operations. Typically, Excel and PowerPoint are the primary tools used to provide management reporting to a company's leadership.

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1. Significance
o

Good management reporting provides key leaders with information that often goes beyond accounting financial statements. It can outline detailed cost and margin information, productivity statistics, variances from budgets to actual performance, and returns on investment.

Function
o

Management reporting serves the function of highlighting company performance against the goals and objectives that have been set for it. For example, cost-cutting objectives can be examined. Targets for growth, earnings or cash-flow that are set at the beginning of the year can be tracked as the year unfolds to determine how business units and divisions are performing. Sales objectives might be tracked this way as well.

Types
o

The types and formats of management reporting are potentially unlimited, however, they can be broken out into three broad categories. The first and most common is variance analysis, in which detailed sales, pricing, volume, costs and margin data is compared to budget and forecast spreadsheets. Generally companies have a budget for a given year, and sometimes a forecast that can be adjusted as the year progresses. Actual results loaded into spreadsheets as they become available during the year are then used to determine variances that are favorable and unfavorable. Another type of management reporting involves competitor analysis, in which a company's results are compared with key competitors. Metrics often include sales, gross margin, return on investment, return on capital employed and capitalization. A third primary category involves operational statistics.

Formal financial statements as published in Securities and Exchange Commission 10-Q forms and annual reports often do not probe into details around production numbers, health and safety data, productivity by product line and margin analysis.

Considerations
o

The most important considerations in management reporting are bias and relevance. Bias refers to a tendency of leadership to look only at data that impact its compensation, rather than data that speaks to the wellness of the whole enterprise. For example, if an executive's bonus is based on hitting Earnings Before Interest and Tax (EBIT) targets, then he might ask only the finance team for reporting around EBIT targets and actual EBIT results. However, this might miss other key elements such as Returns on Capital Employed (ROCE) or cash flow. Relevance is another key consideration, as it can be tempting to get buried in numbers and data while losing sight of the information that is most important to assessing the performance of the organization.

Benefits
o

Good management reporting has the benefit of allowing corporate leadership to speak clearly about how a business is performing in language that employees and investors can appreciate. It assists

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