Controlling is one of the most important and dynamic process of management functions. It is the most important managerial function for correcting, improving and foreseeing action of management for attaining organizational goals.
Controlling provides information to management for executive decision-making. It assists coordination, observation and optimization of all course of action in an organization. This engages verification of both the consumption of production issues and the services provided by an organization.
In addition to documenting definite measures, the major duty of controlling is scheduling. One can determine variances by comparing actual data with plan data. These variance computations allow you to control industry flows. Controlling and Financial Accounting are independent components in the accounting system of an organization.