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    FM Assignment3

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    Eloisa Monato
    1) A comptrollership and controllership are similar roles responsible for accounting and auditing. A comptroller typically has oversight of revenue examination and account certification for a government organization. 2) There is little difference between a controller and comptroller - both are senior financial roles responsible for accounting, reporting, analysis, and internal controls. A comptroller may work specifically for a government. 3) Economic order quantity (EOQ) is the optimal inventory level a company should order to minimize costs of holding inventory, shortage costs, and ordering costs. The EOQ formula considers demand, order costs, and holding costs to determine the best quantity level.

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    FM Assignment3

    Uploaded by

    Eloisa Monato
    33 views3 pages
    1) A comptrollership and controllership are similar roles responsible for accounting and auditing. A comptroller typically has oversight of revenue examination and account certification for a government organization. 2) There is little difference between a controller and comptroller - both are senior financial roles responsible for accounting, reporting, analysis, and internal controls. A comptroller may work specifically for a government. 3) Economic order quantity (EOQ) is the optimal inventory level a company should order to minimize costs of holding inventory, shortage costs, and ordering costs. The EOQ formula considers demand, order costs, and holding costs to determine the best quantity level.

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    1) A comptrollership and controllership are similar roles responsible for accounting and auditing. A comptroller typically has oversight of revenue examination and account certification for a government organization. 2) There is little difference between a controller and comptroller - both are senior financial roles responsible for accounting, reporting, analysis, and internal controls. A comptroller may work specifically for a government. 3) Economic order quantity (EOQ) is the optimal inventory level a company should order to minimize costs of holding inventory, shortage costs, and ordering costs. The EOQ formula considers demand, order costs, and holding costs to determine the best quantity level.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    33 views3 pages

    FM Assignment3

    Uploaded by

    Eloisa Monato
    1) A comptrollership and controllership are similar roles responsible for accounting and auditing. A comptroller typically has oversight of revenue examination and account certification for a government organization. 2) There is little difference between a controller and comptroller - both are senior financial roles responsible for accounting, reporting, analysis, and internal controls. A comptroller may work specifically for a government. 3) Economic order quantity (EOQ) is the optimal inventory level a company should order to minimize costs of holding inventory, shortage costs, and ordering costs. The EOQ formula considers demand, order costs, and holding costs to determine the best quantity level.

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    MONATO, Eloisa Karen N.

    October 14, 2020

    19-02078-2020 Financial Management

    BSBA Financial Management 2 Mr. Jairus Kent B. Sanchez

    Assignment #3

    What is the difference between a comptrollership and a controllership?

    What us economic order ?

    The definition of controllership is the position of controller, the position in charge


    and in command. The person in a corporation who is in charge of accounting and auditing
    is an example of a person who holds the responsibility of the controllership. A comptroller,
    which is often synonymous with auditor, generally has specific duties including the
    supervision of revenue, the examination and certification of accounts, and the inspection,
    examination, or control of the accounts of other public official.

    What is the difference is between a controller vs comptroller? At the end of the day,
    the controller vs comptroller relationship is not all too diverse. A controller is a person that
    is at the highest accounting level in an organization. In other words, he/she is the head of
    the financial division of a company. Controllers are responsible for the
    financial accounting reporting, analysis and interpretation to the executive management
    team. They also administer the internal controls within an organization. A comptroller
    must possess the same duties of a financial controller. There is not a significant difference
    in the roles of a controller versus comptroller. A comptroller definition is a
    senior accountant in a government organization, however, the duties of a comptroller
    and controller do not differ. However, there seems to be a slight difference between the
    two entities when examined at a closer level.

    What is economic order quantity? Economic order quantity (EOQ) is the ideal order
    quantity a company should purchase to minimize inventory costs such as holding costs,
    shortage costs, and order costs. This production-scheduling model was developed in 1913
    by Ford W. Harris and has been refined over time. The formula assumes that demand,
    ordering, and holding costs all remain constant.
    where:

    Q=EOQ units

    D=Demand in units (typically on an annual basis )

    S=Order cost (per purchase order)

    H=Holding costs (per unit, per year)

    The goal of the EOQ formula is to identify the optimal number of product units to
    order. If achieved, a company can minimize its costs for buying, delivery, and storing units.
    The EOQ formula can be modified to determine different production levels or order
    intervals, and corporations with large supply chains and high variable costs use an
    algorithm in their computer software to determine EOQ.

    EOQ is an important cash flow tool. The formula can help a company control the
    amount of cash tied up in the inventory balance. For many companies, inventory is its
    largest asset other than its human resources, and these businesses must carry sufficient
    inventory to meet the needs of customers. If EOQ can help minimize the level of inventory,
    the cash savings can be used for some other business purpose or investment.

    The EOQ formula determines a company's inventory reorder point. When inventory
    falls to a certain level, the EOQ formula, if applied to business processes, triggers the need
    to place an order for more units. By determining a reorder point, the business avoids
    running out of inventory and can continue to fill customer orders. If the company runs out
    of inventory, there is a shortage cost, which is the revenue lost because the company has
    insufficient inventory to fill an order. An inventory shortage may also mean the company
    loses the customer or the client will order less in the future.

    Sources:

    https://www.investopedia.com/terms/e/economicorderquantity.asp
    https://www.google.com/amp/s/strategiccfo.com/controller-vs-comptroller/amp/

    https://legal-dictionary.thefreedictionary.com/comptrollership

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