Day 13 Flashcards
Performance Reports include the following items:
- A user focus
- Specific time horizons
- Exceptional items that are controllable
Note: performance Reports do not include strategic plans - they are more specific and short term focused
MCQ-03996
What incentive design would most likely encourage the use of non-financial measures by a manager?
Tying incentives to a managers individual effort
MCQ-04126
Define: Benchmarking
Would be used by a company in comparing it’s financial data to published information to determine if optimal results have been achieved
MCQ-05801
What method involves comparing internal processes that need to be improved to external companies that are best in class?
Benchmarking
MCQ-06265
Non-financial performance measures are preferable to financial performance measures to motivate operational personnel because:
Non-financial measures are more easily associated with operational objectives
MCQ-06494
Quality Programs: The technique commonly used to determine zero defects and goalpost conformance is:
Control Chart
Shows performance of a particular process in relation to the upper and lower limits of deviation
MCQ-03875
Quality Programs: The technique used to analyze the source of potential problems and their locations within a process is called:
Fishbone Diagram
Describes a process, the contributions to the process, and the potential problems that could arise in the process
MCQ-03878
Define: Pareto Diagram
Illustrates the cumulative effect of errors or process issues in both a line graph (that accounts for all errors or issues) and a histogram (that displays individual errors or issues in relation to all other issues)
MCQ-05141
What elements of the manufacturing process would you see on a Fishbone Diagram?
- Method
- Manpower
- Machinery
- Materials
MCQ-06777
Responsibility accounting defines an operating center that is responsible for revenue and costs as a:
Profit Center
MCQ-03866
What organizational segment is most like an independent business?
Investment Center - they are responsible for revenues, expenses, and invested capital
MCQ-03868
Controllable Margin is best described as:
Contribution margin net of controllable fixed costs (those costs that managers can impact in less than one year)
MCQ-05140
What is a financial measure of success on a balanced scorecard?
Sales growth
MCQ-05270
The balanced scorecard defines organizational performance in four dimensions:
- Innovation
- Customer Satisfaction
- Internal Business Process
- Finance
MCQ-06994
Product-Quality-Related costs incurred in detecting individual products that do not conform to specifications is an example of:
Appraisal Costs
Ex:
- Statistical quality checks
- Inspections
- Testing
- Maintenance of lab
MCQ-03896
