ACC3200 Study Guide - Final Guide: Performance Measurement, Management Accounting, Relate

26 views4 pages

Document Summary

Performance measurement is bw planning (set a plan and quantify it) and control (if the goal"s not being reached, adjust budget). Assist with communication of the organisation"s strategies. Track performance with benchmarks and provide feedback. Indicate when corrective action or amendments needs to take place. Management can be broken down into three different ways; R&d, operations, marketing/sales, finance people, money, machines, info objective setting, strategy formulation, mgt control. Primary function = influences behaviour in desirable ways. Benefit of mcs = increases probability of achieving organisational objectives by correctly implementing strategies. Explicit and visible rules, procedures, performance measures and incentive plans that guide behaviour. Non-visible strategies such as shared values, loyalties, culture, working relationships, unwritten norms about acceptable behaviour. Effective mcss should be designed to fit the organisation"s structure. Decentralisation = the freedom for managers at lower levels of the organisation to make decisions. Greater autonomy = greater freedom to make decisions.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents