Question

What is the difference between the operations controls: maintenance control, cost control, and ratio analysis. ?

Answer 1

Answer:

Operations controls:Operational controls are developed and implemented to ensure that the potential for significant negative environmental impacts are minimized.Operational Controls describe specific operations for controlling and managing the activities, processes, products, and services associated with the significant environmental aspects.

Maintenance control: Maintenance is the process of attending to the product or system after its operation and usage.The objective of this activity is to provide an SOP for controlling the Quality of maintenance activities of ICT products and systems. This will ensure that their purpose is met.

Cost control is the practice of identifying and reducing business expenses to increase profits, and it starts with the budgeting process. A business owner compares actual results to the budget expectations, and if actual costs are higher than planned, management takes action.

Ratio analysis is a quantitative analysis of information contained in a company’s financial statements. Ratio analysis is used to evaluate various aspects of a company’s operating and financial performance such as its efficiency, liquidity, profitability.