ACC 117 Lecture Notes - Lecture 21: Customer Satisfaction, Customer Retention, Income Statement

• School: Tunxis Community College
• Department: Accounting
• Course: ACC 117
• Professor: Muccino

Document Summary

Defines and selects the customer market segments in which the company chooses to compete. Objectives of customer perspective are to increase. Percentage growth of business from existing customers. Budget- detailed plan for the future that is usually expressed in formal quantitative terms. Planning- developing goals and preparing various budgets to achieve those goals. Control- gathering feedback to ensure that the plan is being properly executed or. Force managers to plan for the future. Coordinate activities of organization by integrating the plans of its various parts manager can actually control. Budgets define the goals and objectives that can serve as benchmarks. Responsibility accounting- a manager should be held responsible for those items that the. Continuous budget- 12 month budget that rolls forward one month/quarter as the current. Self imposed budget/participative budget- budget that is prepared with the full cooperation and participation of managers at all levels month/quarter is completed. Individuals at all levels of the organization are recognized.