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Management Control And Financial Management Within Economic Organizations

Author

Listed:
  • Emilia VASILE

    (Athenaeum University, Bucharest, Romania)

  • Ion CROITORU

    (Athenaeum University, Bucharest, Romania)

Abstract

This paper deals with management control as an essential factor in monitoring the functioning of the economic management of economic organizations. Management control is the set of procedures and tools that allow an organization to set goals, guide management decisions and behaviors to achieve goals and ensure that the necessary resources are available and used effectively and efficiently in carrying out activities associated with the goals set. It intervenes in all situations where the working environment is indefinite or unclear. Through the management control it is tracked whether the stages of the managerial process regarding the management of the financial resources and the patrimonial management are properly completed. The management of the economic organizations through the implementation of the management control ensures that it has sufficient data sources and information that guarantees that the managerial decisions made within the different functional structures of the organization are coherent and that, in the short term, they meet the objectives.

Suggested Citation

  • Emilia VASILE & Ion CROITORU, 2019. "Management Control And Financial Management Within Economic Organizations," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 56(4), pages 108-117, December.
    • Handle: RePEc:ath:journl:v:56:y:2019:i:4:p:108-117
    as

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    File URL: http://aimr.univath.ro/download/1202_009CV.pdf
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    References listed on IDEAS

    as
    1. Emilia VASILE & Ioan Croitoru, 2011. "Internal Control - Management Responsibility," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 23(3), pages 15-26, september.
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    More about this item

    Keywords

    internal audit; management control; costs; management accounting; internal control; managerial performance; budget system; dashboard;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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