HAL Financial Performance Analysis and Future Prospects
Part iv
1. Accounting concepts and techniques as control devices
Quality control
Is a process employed to ensure a
certain level of quality in a product or service. It
may include whatever actions a business deems
necessary to provide for the control and
verification of certain characteristics of a product
or service. The basic goal of quality control is to
ensure that the products, services, or processes
provided meet specific requirements and are
dependable, satisfactory, and fiscally sound.
2. Accounting concepts and techniques as control devices
Production Control
Is the backbone of any production
system. The aim of production control is
to produce the right product in proper,
quantity and quality, at the right time
and by the best and least costly
methods
We can use a Gantt chart, it is a
graphical illustration of production
scheduling and controlling the work of
various production departments and
machines.
4. CHANPAO CONSOLIDATED
INDUSTRIES, INC.
“ I heard it in a management conference I attended,”
Remarked Marie Ayala, president of Chanpao Consolidated Industries,
Inc.,
a small company whose new pleasure-boat products contributed to
the company’s growth of P5 million in annual sales since its founding
five years ago.
“This idea running a company by allowing department and section
heads develop their own budgets seems sound. But I can’t afford it in
this company. If I did, these people would spend so much money that
we will soon be bankrupt. As long as I am President, I will tell my
people how much they should spend. There will be no blank checks and
I will make sure the company comptroller gives the profit I expect. I
have heard of too many fast- growing companies going red. This idea is
variable budgets is even worse. What would happen if I let everyone
vary his budget every month, quarter , or year ?”
