Management by exception

Management By Exception
Business Dictionary:
Management By Exception
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management by exception
concept or policy by which management devotes its time to investigating only those situations in which actual results differ significantly from planned results.

Management by exception is a system of management in which standards are set for various operating activities, with actual results then compared against these standards.

Management by exception: control and management of costs and revenues by concentrating on those instances where significant variances by actual from budgets have occurred.

Responsibility Accounting and Management by Exception
The questions and problems accompanying this text serve as a self-test to help identify areas where a student's understanding is not clear.

Management by Exception
Responsibility Accounting
Report for a Cost Center
Report for a Profit Center
Report for an Investment Center
Return on Investment (ROI)
Assignment for Lesson 25
Solutions to Selected Items
Chapter 25 Quiz
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See also: Direct labor, The Budget, Fixed costs, Job, Expense