Source, in full
Each division has a Comptroller et the head of its financial department, who, besides being responsible to the General Manager, also reports to the Comptroller of the Corporation.He sends in a monthly balance sheet and income statement on a standard form. Each division has an accounting department which sends monthly reports to the Central Office.
Notes from Wikiquote
Centralized programming. Top mangement establishes overall goals for production, in consultation with the various divisions, in order to maintain logical relationships to sales, inventories carried and purchase commitments, and return on investment. Performance standards are set for each division. Each must fit into the general plan and operate in accordance with the dictates of four basic economic factors — long-term growth, business cycle variations, seasonal fluctuations and competition. Long-range goals are planned centrally in consultation with the divisions. The aim is to eliminate uncertainty. | Authority limitations are imposed on divisional managers with regard to such basic decisions as the following: capital expenditure, price ranges of products, salary changes above a certain level, bonuses, union contracts. | Provision of services through the general staff at headquarters regarding new methods, techniques, future, policies, uniform practices — all on an advisory basis (that - is, division managers are free to decide whether or not to take the through personal contacts, meetings, bulletins, periodic corporation-wide conferences. | Accounting control through (a) a central auditing staff (b) measurement of cost efforts of the various divisions on a comparable basis, eliminating extraneous factors as far as possible; (c) measurement and comparison of the rate of return on invested capital: and (d) market standing through study division's sales as a percentage of the market. | p. 106