Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 12, Problem 7MC
A good performance measurement system will align the goals of management with_______.
A. the goals of the city manager and the mayoral staff
B. the goals of the corporation, and both parties will benefit
C. the priorities of the stockholders as listed at the annual meeting
D. the Investment department’s response to the annual audit
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Chapter 12 Solutions
Principles of Accounting Volume 2
Ch. 12 - Components of the organization that are...Ch. 12 - When managerial accountants design an evaluation...Ch. 12 - Goal congruence in well-designed performance...Ch. 12 - Responsibility accounting holds managers...Ch. 12 - Performance measures are only useful if _______....Ch. 12 - Which of the following is not a characteristic of...Ch. 12 - A good performance measurement system will align...Ch. 12 - What should an organization do if performance...Ch. 12 - A good performance measurement system will include...Ch. 12 - Without proper performance measures, goal...
Ch. 12 - Dixon Construction Materials has collected this...Ch. 12 - The cost of equity is _______. A. the interest...Ch. 12 - Which of the following measures the profitability...Ch. 12 - The capital structure of Ridley Enterprises Is:...Ch. 12 - Calculate the ROI for Gardner Chemical given the...Ch. 12 - Which of the following statements is false? A. The...Ch. 12 - The metrics based on nonfinancial information are...Ch. 12 - The metrics based on financial numbers produced by...Ch. 12 - People affected by decisions made by a company,...Ch. 12 - The owners of company stock are ______. A....Ch. 12 - Why might a manager focused solely on accounting...Ch. 12 - Is there a way to prevent managers from focusing...Ch. 12 - Should an organization focus on controllable or...Ch. 12 - What are the components of a strategic plan? Find...Ch. 12 - What are the four types of centers and their...Ch. 12 - What would be wrong with using two points of data...Ch. 12 - Compare and contrast short- and long-term goals...Ch. 12 - Can a short-term goal also be a long-term goal?...Ch. 12 - What does goal congruence mean? Provide an example...Ch. 12 - What are the six characteristics of a good...Ch. 12 - What is EVA and why is it superior to other...Ch. 12 - What are the drawbacks to ROI? Give examples of...Ch. 12 - Describe the history and purpose of the balanced...Ch. 12 - What are the characteristics of successful...Ch. 12 - For the following situations, identify whether the...Ch. 12 - For the following descriptions state whether the...Ch. 12 - Identify the type of responsibility center...Ch. 12 - Sara has just taken a job as the middle school...Ch. 12 - During the current year, Sokowski Manufacturing...Ch. 12 - During the current year, Sokowski Manufacturing...Ch. 12 - Assume Skyler Industries has debt of $4,500,000...Ch. 12 - Why do managers want a high ROI, and how would...Ch. 12 - Classify each of the following performance...Ch. 12 - For the following situations identify whether the...Ch. 12 - For the following descriptions, state whether the...Ch. 12 - Identify the type of responsibility center...Ch. 12 - Padma completed her doctoral degree and has taken...Ch. 12 - During the current year. Plainfield Manufacturing...Ch. 12 - During the current year, Plainfield Manufacturing...Ch. 12 - Assume Plainfield Manufacturing has debt of...Ch. 12 - Though a high ROI is desired, what are some...Ch. 12 - Classify each of the following performance...Ch. 12 - Match each of the following with its appropriate...Ch. 12 - Florentino Allers is the production manager of...Ch. 12 - Macon Mills is a division of Bolin Products. Inc....Ch. 12 - Jefferson Memorial Hospital is an investment...Ch. 12 - Crawfords Books and Things has a traditional...Ch. 12 - Coral Creations has strategic plans that call for...Ch. 12 - Match each of the following with its appropriate...Ch. 12 - Oleg Markov is the production manager of NASA...Ch. 12 - Evaluate the two departments for Moxie Products....Ch. 12 - Banyan Industries has two divisions, a tax rate of...Ch. 12 - Forty years ago, Vinfen was founded as a nonprofit...Ch. 12 - What combination of quantitative factors and...Ch. 12 - Josh OShea is the manager of the...Ch. 12 - Kanye Achebe just became the operations manager of...Ch. 12 - Which of the performance measures—ROI, RI, or...
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- Which of the following is a primary aspect of the evaluating function within an organization? comparing actual results against expected results for products, departments, divisions, or the company as a whole reviewing only the quantitative or financial results of the company setting goals putting controls in place for the upcoming yeararrow_forwardFinancial performance analysis includes analysis and interpretation of financial statements in such a way that it undertakes full diagnosis of the capital budgeting, income and expenditure, profitability and financial soundness of the business. Discuss it relationships to other factors of internal organizational analysis ( employees, resources, business nature)arrow_forwardThe cornerstone of external financial reporting for governmental units and not-for-profit organizations is: a. to show the flow of financial resources b. to determine profit or loss c. to compare budgeted to actual resources d. accountabilityarrow_forward
- Financial performance analysis includes analysis and interpretation of financial statements in such a way that it undertakes full diagnosis of the capital budgeting, income and expenditure, profitability and financial soundness of the business. Discuss its relationships to other factors of internal organizational analysisarrow_forwardWhich of the following statements are true? a. Screening projects of the company and determining whether they are profitable or not is part of the financial manager’s investing role. b. A financial manager emphasizes that one of the roles of their department is to transact in the financial markets. c. In an organizational chart, a financial manager who is concerned with determination of product cost and cost control function must be under the Treasurer’s Function. d. A financial manager who is tasked to assessment the company’s credit capacity. In an organizational chart, he must be under the controller.arrow_forwardWhich of the following is a key performance indicator of the internal business perspective in a balanced scorecard? A. return on investment B. hours of employee training C. number of warranty claims received D. percentage of market sharearrow_forward
- What benefits are derived from including the management’s discussion and analysis in state and local governmental financial reports? What information is required to be included in the MD&A?arrow_forwardManagement accounting has the following features: Select one: O A. Future orientated focus O B. Stewardship orientation focus O C. Focus on detailed annual reports O D. Focus on decision-making needs of shareholdersarrow_forwardOne of the duties of an audit committee is to provide financial information at first to the board of director for taking appropriate decision which is in the favor of organization. The qualitative aspects of financial information include ________________. a. Not only providing financial data but adding recommendations for board of directors b. All of the options c. Providing non-financial data for getting insights d. Financial data of past and present yearsarrow_forward
- Describe the business and its core operations. Explain what data you would use to inform the budget and why this data would be relevant. Who else would you involve in developing the budget? Draw up the budget to cover the next financial year. Explain how the budget would be used to monitor the financial performance of the organisation. List and explain the application of statutory and legislative requirements as they apply to financial management within a business organisation. Write a report explaining how the budget that you have developed contributes to financial management. Present this report verbally in order to demonstrate your communication skills as well as the ability to explain budgets and deal with questions. Analyse the existing financial management approaches of the organisation. Are there any recommendations you should make and what are they? What software packages/ programs have you used when developing the budget and how did these assist?arrow_forwardCreating a good public image is vital for the organizations and one of the ways is to work closely on corporate social responsibility in relation to the risk management of the organization. To achieve this goal the organization must pay attention in _____________. a. All of the options b. Providing opportunities for stakeholders to develop c. Operating within societies by keeping the sociocultural norms d. Providing financial and non-financial informationarrow_forwardSUSTAINABILITY AND STRATEGIC AUDIT 1. What is the purpose of sustainability accounting and disclosure?2. Why are SASB standards needed in the business world?3. Suppose you are tasked to construct and evaluate complex financial statements,including those relating to group accounts, to show an organization's financialposition and performance. How do SASB standards relate to your task?arrow_forward
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