Classification of Control Technique into Traditional and Modern Techniques

Techniques of Control are:

1. Traditional or Conventional Techniques &
2. Modern or Contemporary Techniques

Classification of Control Technique into Traditional and Modern Techniques:

As stated above, the various techniques of control can be classified into categories, viz., (1) Traditional or Conventional techniques and (2) Modern or Contemporary techniques.

The important Traditional or Conventional techniques are:

1. Budgetary Control
2. Standard Costing
3. Break-even Analysis
4. Inventory Control
5. Internal Audit
6. Statistical Data Analysis
7. Personal Observation
8. Production Planning and Control

The Important Modern or Contemporary techniques are:

1. Financial Statement Analysis
2. Return on Investment Control
3. Management Information System
4. Management Audit
5. Zero-base Budgeting
6. Pert & CPM
7. Human Resources Accounting
8. Responsibility Accounting