Control Reports

A part of the information feedback loop in business. Information is recorded at intervals appropriate to the subject matter and compiled. This information is fed back to management for interpretation and modification to systems or operations to continue improvements.

Mixed Costs

Mixed Costs

Mixed costs are a more advanced business concept.  Mixed costs refer to a combination of both a fixed and variable component.  A common error made by most small business entrepreneurs is the misapplication of the formula.  Many small business owners understand the textbook definition but rarely exercise the concept in reality.

Operating Control Reports in Business

Operating Control Reports

A part of any information feedback loop is the operating control reports in business.  Depending on the nature and financial impact involved, these reports can be daily (Daily Operating Controls or DOC), weekly (Weekly Operating Controls or WOC) and/or monthly (Monthly Operating Controls or MOC) in management reporting.  Their value is to inform management of business activity and identify any potential issues that could generate undue financial harm on the business or worse, create an unsafe product or work environment.

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