🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Finance
1
answer
0
watching
428
views

Performance measures are an integral part of the strategic planning cycle and its process flow. How many of the following statements about such performance measures are correct?

A. Performance measures can be reported as outcomes

B. Accountability is achieved by reporting performance measures as outcomes

C. A single action plan is linked to a series of performance measures

D. A single performance measure is linked to a series of action plans

E. A & B

F. A, B & C

G. A, B & D

Watch
1
answer
0
watching
428
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Bunny Greenfelder
Bunny GreenfelderLv2
28 Sep 2019

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share

Related questions

Prepare a Project Proposal that includes the nature of the project, the sources of information you plan to use, and the most important concepts and techniques to be applied.

The outline topics should include the following:

A brief summary of the company you have chosen, such as business lines, and its industry;
Information sources (e.g. industry studies, market share reports, financial statements, etc.);

The analyses you will include in your study. This will likely require a summary review of the material in later sections of the course, such as competitor analysis;

If you have access to, and permission to use, internal company documents, please discuss so in the outline.

You are required to complete a course project that reveals mastery in application of the strategic managerial accounting and performance management concepts emphasised in the course. This involves reporting on a specific organisation within an industry, analysing the firm’s competitive position (e.g., market position, cost competitiveness, market power, innovation, SWOT, etc.), its managerial accounting approach, and the non-financial performance metrics should be used in monitoring firm performance, all aligned with value creation for the chosen firm.

This project should be a formal business report that covers all elements of the strategic management process: mission statement, strategic goals, strategic objectives, actionable plans (if available, analyse the specific budget planning process used by the Firm; if not, search for relevant articles for the subject company and recommend a process that you believe is appropriate for the company), and performance monitoring processes employed by the Firm, including its board of directors. These processes and strategies are to be supported with managerial accounting and performance management concepts.

In selecting a company to analyze, first focus on information availability. If you work for the company, ensure that you can obtain the information required to do a proper job on this assignment. If you choose a company you do not work for, begin your search among larger public companies with ample information available. Company websites are often the best place to begin, in particular the investor relations site. Look for annual reports, quarterly reports, press releases, white papers, and other sources of information (e.g., public filings, such as for the U.S. Securities & Exchange Commission at http://www.sec.gov./

Your tasks are to:

· Briefly describe the business of the Firm (i.e. industry segments, geographic service area, market position, and size as measured by revenues, employees, and market capitalisation). Describe the mission statement and strategic objectives of the Firm.
· Analyse the behaviour of expenses of the business, distinguishing between variable costs and fixed costs (or estimates thereof), describe the relationships between sales volume, costs, and profit. Estimate a break-even point for the Firm and support with relevant calculations and discussion.

· Discuss the level of the Firm’s operating leverage.

· Assess the budgeting process and procedures for the Firm, bearing in mind the context of the business and its characteristics. Identify methods employed for budgeting, managerial reporting, and control, and make recommendations for improvement. Justify your recommendations.

· Summarise the Firm’s performance over the past five years in terms of sales and earnings growth, return on equity, return for shareholders, and non-financial performance measures (e.g. market share, recognition, customer satisfaction).

· Analyse the fixed capital needs (i.e. capital expenditures) of the company, and discuss significant capital projects, how they fit with the strategic goals of the Firm. Evaluate risks associated with major capital projects and suggest risk mitigation strategies. Justify your suggestions.

· Briefly profile two or three key competitors and analyse the basis for competition (e.g., is it cost? Innovation? Capital intensity? Branding?). Compare the Firm with these key competitors on key performance metrics (e.g., revenue growth, profit margins, return on equity, financial leverage, receivables turnover, payables turnover, asset turnover, operating costs, market share, market share growth, etc.). Identify areas where the Firm may outperform or underperform the peer group, and suggest improvements for weaknesses.

· Design a Balanced Scorecard for the Firm.

This project should follow a structured approach and should be prepared and presented as a professional business report.

1. Which of the following statements about defined contribution plans is incorrect?


a. In general, employees can choose the investment vehicle under a defined contribution plan. Thus, highly risk-averse employees can choose low-risk investments, while more risk-tolerant employees can choose high-risk investments.


b. In a defined contribution plan, the employer must make larger-than-average contributions to the pension plan when investment returns have been below expectations.


c. Defined benefit plans are used more often by large corporations than by small companies.


d. The PBGC insures a portion of pension benefits.


e. A defined contribution plan places the risk of poor pension portfolio performance on the employee.



2. Which of the following statements about pension plan portfolio performance is incorrect?


a. Alpha analysis, which relies on the Capital Asset Pricing Model, considers the risk of the portfolio when measuring performance.


b. Peer comparison examines the relative performance of portfolio managers with similar investment objectives.


c. A portfolio annual return of 12 percent from one investment advisor is not necessarily better than a return of 10 percent from another advisor.


d. In managing the retiree portfolio, fund managers often use immunization techniques such as alpha analysis to eliminate, or at least significantly reduce, the risk associated with changing interest rates.


e. Pension fund sponsors must evaluate the performance of their portfolio managers periodically as a basis for future asset allocations.



3. Ms. Lloyd, who is 25 and expects to retire at age 60, has just been hired by the Chambers Corporation. Ms. Lloyd's current salary is $30,000 per year, but her wages are expected to increase by 5 percent annually over the next 35 years. Chambers has a defined benefit pension plan in which workers receive 2 percent of their final year's wages for each year of employment. Assume a world of certainty. Further, assume that all payments occur at year-end. What is Ms. Lloyd's expected annual retirement benefit, rounded to the nearest thousands of dollars?


a. $35,000


b. $57,000


c. $89,000


d. $116,000


e. $132,000

Which of the following tends to insulate management somewhat from the financial results of poor financial planning? (Pick the best answer.)
A. Capitated rates
B. Cost reimbursement
C. Bundled services
D. Charge payment
5 points
Question 2
The cash budget focuses on which of the following major activities:
A. Purchasing of resources
B. Collection
C. Production/sale of service
D. All of the above
5 points
Question 3
Which of the following is an element of budgeted financial requirements that is not included in budgeted expenses?
A. Interest expense
B. Increases in working capital
C. Labor expense
D. A and B
E. None of the above
5 points
Question 4
A department manager most often uses his or her hospitals’ financial information for which of the following uses:
A. Assess the financial condition of the hospital
B. Assess the efficiency of operations
C. Evaluate the hospital’s stewardship
D. Assess the effectiveness of operations
5 points
Question 5
18. You have just advance refunded $50 million of outstanding tax-exempt revenue bonds with $40 million of new debt, which created a gain after considering reimbursement effects of $5.0 million. What could account for this?
A. Higher interest rate on the refunding issue
B. Lower interest rate on the refunding issue
C. Positive arbitrage on the refunding issue
D. None of the above
5 points
Question 6
A not-for profit nursing home has total expenses of $20 million. Sales tax in the state is 7%. Expenses are broken down into salaries ($12 million), supplies ($6 million), and pharmacy ($2 million). The benefit received by the nursing home from the sales tax exemption assuming that pharmacy items are exempt from state sales tax is?
A. $1.4 million
B. $1.26 million
C. $420,000
D. $480,000
5 points
Question 7
Which of the following is not one of the four critical questions that must be answered for dashboard reporting?
A. What is the firm’s strategic vision?
B. What is most important to the firm’s success?
C. What are the critical drivers that influence performance attainment?
D. What are the most relevant measures that reflect critical driver relationships?
5 points
Question 8
What of the following is not one of the characteristics of long-term debt financing?
A. Cost
B. Control
C. Risk
D. Inventory
5 points
Question 9
The controller in a hospital is usually responsible for which of the following activities (choose all that apply):
A. Collection of accounts receivable
B. Developing budgets
C. Filing Medicare cost reports
D. Arranging hospital loans
5 points
Question 10
The heading of every financial statement should contain the:
A. name, title, and place of business
B. name, title, and specific date of statement
C. name, title, specific date of statement, and unit of measurement
D. title, name, type of ownership, and unit of measurement
5 points
Question 11
The Catholic Healthcare Association recognizes which of the following as legitimate areas of community benefit?
A. Bad Debts
B. Unreimbursed Medicare Costs
C. Both A and B
D. Neither A nor B
5 points
Question 12
The following is an example of a _____________ budget: “The budget for the radiology department is different at 90 percent occupancy than at 80 percent occupancy.”
A. rolling
B. forecast
C. flexible
D. fixed
5 points
Question 13
Which of the following is not a “principle” of financial accounting?
A. Historical cost
B. Revenue recognition
C. Continuity
D. Matching
5 points
Question 14
Accounts receivable (net) increased by $500,000 during the year. This increase has what effect on cash flow?
A. Reduces it
B. Increases it
C. No effect
D. All of the Above
5 points
Question 15
What should be a firm’s primary long-term financial objective?
A. profit growth
B. debt growth
C. asset growth
D. equity growth
5 points
Question 16
A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an):
A. Income statement
B. Statement of retained earnings
C. Balance sheet
D. Statement of cash flows
5 points
Question 17
Strategic planning should _________ financial planning.
A. follow
B. precede
C. be contemporaneous with
D. None of the above
5 points
Question 18
The statistics budget:
A. forecasts operating revenues that will be earned during the budget period
B. identifies the amount of service that will be provided by departmental area
C. represents an organization's expected cash inflows and outflows based on the previous years' cash flows
D. identifies operating expenses that are expected to be incurred during the budget period
5 points
Question 19
What is net working capital?
A. Current assets less long-term liabilities
B. Current assets less current liabilities
C. The amount of permanent financing required to finance working capital or current assets.
D. Both B and C
5 points
Question 20
The working capital cycle looks at which of the following:
A. Obtaining cash
B Turning cash into resources and paying bills
C. billing and collecting revenues earned
D. All of the above
5 points
Save and Submit

Weekly leaderboard

Home
Homework Help 3,900,000
Finance 370,000
Start filling in the gaps now
Log in