Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A college currently measures its performance by comparing the actual costs against its budgeted costs for the year.Now that the college is facing increased competition from Various colleges and private education providers, Deptt. professors has suggested that it needs to consider additional performance which measures such as those indicated by the Balanced Scorecard.
Explain the concepts of the Balanced Scorecard and how this approach to performance measurement could be used by the college.
The main concepts of the Balanced Scorecard is that
An organisation’s performance should not be measured on the basis of its financial results only.Other key performance indicators are improtantly relevant to an organisation’s success. The balanced scorecard typically identifies Quadrants groups (or four) of performance indicator that would be suitable for most organisations, though each organisation is free to determine the performance indicators that are most relevant to its own needs. The typical quadrants are: customer perspective; internal business perspective; innovation and learning perspective; and financial perspective. Many people believe that success in the non-financial performance measures will lead to success in the financial performance measures so that these other measures are leading measures whereas the financial measures are lagging measures. The college could use the balanced scorecard to measure its success in other areas of its business. It is important for service businesses such as colleges to understand the wants of its customers and thus measures connected with the customer perspective are important. The college may discover that particular types of courses are demanded by their customers and this may lead the college to develop new courses which can be measured using the innovation and learning perspective. The college can also look at how it operates its processes both in relation to its staff and its customers. Improvements in these processes could be used to improve the financial results, perhaps, because costs savings can be made.
WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS
Example of Economic Order Quantity The EOQ model supposes : - Annual demand is recognized - Hold costs are constant and recognized - Ordering costs are recognized a
10) Mike Taylor, the owner of Tennessee River Boat Rentals, is estimating the cost of operating his boat rental company next year. He expects to have 450 rentals during 200Z. The f
Allocation of Service Department Costs Allocation of Service Department Costs to Production departments ,Service departments are those departments that provide support to prod
Typical Causes of Labour Variances Labour Rate Variances a) Higher rates being paid than planned because of wage raise awards. b) Lower or Higher grade of work
The costs that are fixed irrespective of manufacture are fixed costs. EX: Rent, Depreciation. Fix cost is those cost who not alter in any time whether the production done or not
importance of marginal costing &standing costing
Q. Calculate break-even level of sales volume and revenue? Z-Boxes sell for £299 and their variable production cost is £99. Research and development, and fixed production overh
Current assets 180.00 232.00 Less: Current Liabilities 80.00 105.00 Working Capital
The assets and liabilities of Amos Moving Services at May 31, 2011, the end of the current year, and its revenue and expenses for the year are listed below. On April 1, 2010, the
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd