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Designing an effective financial planning and control system |
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| Authors: | Scott S Cowen |
| Institution: | Scott Cowen is Dean and Professor of Accounting at Case Western Reserve University Cleveland, Ohio, USA J. Kendall Middaugh II is Associate Professor at the Babcock Graduate School of Management, Wake Forest University, Winston, Salem, NC, USA |
| Abstract: | This article addresses the problems to be found in the design of financial planning and control systems. The primary purpose of an effective planning and control system is to minimize the possibility of management crises and to accomplish this, management must plan for the development of such systems as it would plan for plant expansion or new product development, recognizing the changing needs of the system as the company evolves. |
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