Article title: – control systems; these are the various methods and procedures that form the complete control system of an institution.
Article Purpose: – the control system is concerned with the preparation of timely and reliable financial reports, protection of the establishment’s assets as well as ensuring that the agency’s procedures and laid down policies get compliance from all the stakeholders in the business organization.
Main Findings and conclusion: – Indian cooperatives have over the years witnessed spectacular changes in their sizes, business volumes, and their structures. The cooperatives have therefore grown more complex and due to that fact there was the necessity for proper planning and efficient control of collective business operations. The management of these organizations had to, therefore, be professionalized and their imminent introduction to modern techniques of managing their businesses. Several measures of ensuring the professionalization of the management included the restructuring of the accounting systems, the introduction of management accounting practices and the professionalization of the management personnel. The Indian cooperatives follow a system of financial accounting that is indigenously known as cooperative account keeping. The system is universally acceptable according to the accounting definition though it varies widely in its operations from the modern account keeping systems (Ang, 2010).
Article Title: – Provides insight into the necessity to have the definite procedures of the activities that take place in the organization.
Article Purpose: – The article serves to relate the traditional methods which the Indian cooperatives used for account keeping with the modern professional account keeping operations. It also marks a remarkable improvement in the managerial standards of the organizations in India.
Main Findings and Conclusion: – This article relates to the management practices of the Indian agencies that had a preexistent method of keeping their accounts (Patel, Chittamuru, Jain, Dave, & Parikh, 2010). The approach used by the organizations in their budgeting operations and business reviews varied with the nature of the structure of the business organization. The government formally set the business targets for all the cooperatives. The cooperatives did not have their established principles and conventions in their account keeping systems.
- Ang, J. B. (2010). Finance and inequality: the case of India. Southern economic journal, 76(3), 738-761.
- Patel, N., Chittamuru, D., Jain, A., Dave, P., & Parikh, T. S. (2010, April). Avaaj otalo: a field study of an interactive voice forum for small farmers in rural india. In Proceedings of the SIGCHI Conference on Human Factors in Computing Systems (pp. 733-742). ACM.