Difference between revisions of "Control"
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== In Accounting == | == In Accounting == | ||
Control links an economic resource to an entity. Assessing whether control exists helps to identify the economic resource for which the entity accounts. An entity controls an economic resource if it has the present ability to direct the use of the economic resource and obtain the economic benefits that may flow from it. | Control links an economic resource to an entity. Assessing whether control exists helps to identify the economic resource for which the entity accounts. An entity controls an economic resource if it has the present ability to direct the use of the economic resource and obtain the economic benefits that may flow from it. | ||
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| + | == In Statistics == | ||
| + | Control means controlling certain aspect of a statistical experiment. | ||
== Disclaimer == | == Disclaimer == | ||
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[[Category:Control]] | [[Category:Control]] | ||
[[Category:Internal Governance]] | [[Category:Internal Governance]] | ||
| + | [[Category:Statistics]] | ||
{{#set: isDefinedBy | https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Control/index-en.html }} | {{#set: isDefinedBy | https://spec.edmcouncil.org/fibo/ontology/FND/OwnershipAndControl/Control/index-en.html }} | ||
__SHOWFACTBOX__ | __SHOWFACTBOX__ | ||
Revision as of 14:51, 18 October 2021
Definition
Control. The possession by a party, direct or indirect, of the power to direct or cause the direction of the management and policies of a thing, whether through the ownership of voting shares, by contract, or otherwise.
In Internal Governance
The whole system of controls, financial and otherwise, established by a Board compliance with laws and and management in order to carry on an regulations, to safeguard organization's business in an effective an organization's assets and efficient manner, in line with the and to ensure the reliability organization's established objectives and of management and goals. Also referred to as Internal Control
In Accounting
Control links an economic resource to an entity. Assessing whether control exists helps to identify the economic resource for which the entity accounts. An entity controls an economic resource if it has the present ability to direct the use of the economic resource and obtain the economic benefits that may flow from it.
In Statistics
Control means controlling certain aspect of a statistical experiment.
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
