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tools-for-enterprise-performance-evaluation

tools-for-enterprise-performance-evaluation - Larry M...

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Download free ebooks at bookboon.com 2 Larry M. Walther Tools for Enterprise Performance Evaluation Budgeting and Decision Making
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Download free ebooks at bookboon.com 3 Tools for Enterprise Performance Evaluation – Budgeting and Decision Making © 2010 Larry M. Walther, under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted, and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-575-2
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Download free ebooks at bookboon.com Please click the advert Tools for Enterprise Performance Evaluation 4 Contents Contents Tools for Enterprise Performance Evaluation 6 1. Responsibility Accounting and Management by Exception 7 1.1 Centralized VS. Decentralized Decision-Making 7 1.2 Responsibility Centers 8 1.3 Cost Center 8 1.4 Profit Center 9 1.5 Investment Center 9 1.6 Affixing Responsibility 10 1.7 Responsibility Center Reports 11 1.8 The Power of a Data Base System 14 1.9 Traceable Versus Common Fixed Costs 14 1.10 Management by Expansion 15 2. Flexible Budgets 16 2.1 Flexible Budget for Performance Evaluations 17 2.2 Flexible Budgets for Planning 17 2.3 Flexible Budgets and Efficiency of Operation 19 3. Standard Costs 20 3.1 Setting Standards 20 3.2 Philosophy of Standards 21 3.3 The Downside of the Standards 22 Designed for high-achieving graduates across all disciplines, London Business School’s Masters in Management provides specific and tangible foundations for a successful career in business. This 12-month, full-time programme is a business qualification with impact. In 2010, our MiM employment rate was 95% within 3 months of graduation*; the majority of graduates choosing to work in consulting or financial services. As well as a renowned qualification from a world-class business school, you also gain access to the School’s network of more than 34,000 global alumni – a community that offers support and opportunities throughout your career. For more information visit www.london.edu/mm , email [email protected] or give us a call on +44 (0)20 7000 7573 . Masters in Management The next step for top-performing graduates * Figures taken from London Business School’s Masters in Management 2010 employment report
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Download free ebooks at bookboon.com Please click the advert Tools for Enterprise Performance Evaluation 5 Contents 4. Variance Analysis 23 4.1 Variances Relating to Direct Materials 24 4.2 An Illustration of Direct Material Variance Calculations 25 4.3 Journal Entries for Direct Material Variances 27 4.4 When Purchases Differ From Usage 29 4.5 Variances Relating to Direct Labor 29 4.6 An Illustration of Direct Labor Variance Calculations 30 4.7 Journal Entries for Direct Labor Variances 32 4.8 Factory Overhead Variances 32 4.9 Variable Versus Fixed Overhead 33 4.10 Variances Relating to Variable Factory Overhead 34 4.11 Exploring Variable Overhead Variances 34 4.12 An Illustration of Variable Overhead Variances 35 4.13 Journal Entry for Variable Overhead Variances 36 4.14 Careful Interpretation of Variable Overhead Variances 37 4.15 Variances Relating to Fixed Factory Overhead 37 4.16
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