Operational control and performance measurement

After studying this chapter, you should be able to: distinguish between feedback and feed-forward controls; discuss the factors that should be considered when operating a responsibility accounting system; prepare flexible budgets and analyse variances by price and quantity; explain why non-financial measures have become increasingly important as an aid to operational control; describe activity-based cost management; explain how non-manufacturing costs can be controlled; describe the approaches that can be used to measure performance in non-profit organizations.