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Cost Accounting Planning and Control
Management's efforts to achieve company objectives rest upon the twin functions of planning and control. The planning function is essentially a decision-making process dealing with the establishment of a desired profit; the preparation and availability of materials, labor force, and plant and equipment for the anticipated volume; and the creation of a communication system that permits reporting and controlling actual results against predetermined plans. The control function deals with management's task of organizing and marshaling natural forces, human behavior, and material objects into a coordinated unit in order to attain the desired results. The connecting link between the originating planning function and the terminating control function is the cost accounting information system, rightly termed a tool of management, that permits effective communication, continuous feedback, responsibility accounting, and managerial flexibility.
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