The purpose of accounting information is to help organizations make well-informed business decisions. Accounting allows organizations to understand the financial perspective of the organization, the inflow and outflow of organizational resources and their results. An important function of accounting is organized record-keeping which allows the organization to record spending and receiving patterns. This paper focuses on several accounting aspects of Guillermo Furniture Store. The paper focuses on how budgets and performance reports assist the furniture maker in the decision making process, and how ethics might influence his decisions.
Financial Ratio Analysis 4. Accountability Assessment management reporting using financial and accounting reports is a proven resource for organizational leaders. The outcomes of the assessment should be used to help identify organizational needs as well as management inefficiency. This assessment will clarify how well management has done based upon the financial and accounting reports which are contained in the 2009 Annual Report. Management Assessment Report: Wal-Mart Stores, Inc.
Business Model and Strategic Plan Part III: Balanced Scorecard and Communication Plan NAME BUS/475 Integrated Business Topics DATE Dr. Steven Verrone The Balanced Scorecard As is highlighted by The Balanced Scorecard Institute (2015) “The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals” (Balanced Scorecard Basics, pg). A balanced scorecard takes into account traditional financial measures while also providing guidance to steps necessary to create future value through investments in customers, suppliers, employees, processes, technology, and innovation (The Balanced Scorecard Institute, 2015). Balanced Scorecard for Regions Financial Corporation – All-In-One Mortgage Service | Strategy | | Objectives | Metrics for each objective | Targets for each metric | Initiatives for each target | Financial | * Increase market share * Increase profitability * Increase annual revenue | * Increase in number of clients * Increase the visibility of the branded content * Grow the company’s revenue | * Increase the number of clients by 4% in the next 2 years * Visibility to grow by 12% within the next year * 18% increase in the company’s revenue within the next year | * Increase advertising of the All-In-One Mortgage * Increase the online campaign of All-In-One Mortgage * Lower the fees involved in getting the All-In-One mortgage to increase the client base | Customer | * Satisfy customer needs * Increase customer value * Customer retention | * Engage the customers to understand their needs * Offer the All-In-One Mortgage
What is a Balanced Scorecard? Balanced Scorecards are used in businesses to evaluate a company’s performance and success. There are four parts to a Balanced Scorecard: financial performance, customer satisfaction, internal processes, and learning and growth. Financial Performance is the “measure of profitability and market value, among others as indicators of how well the firm satisfies its owners and shareholders” (Blocher, Cokins, & Stout, p.42). Customer satisfaction is the “measures of quality, service, and low cost, among others, as indicators of how the firm satisfies its
Relationship between Strategic and Financial Planning In today’s market, the Wal-Mart Corporation must understand the relationship between a strategic and financial plan to incorporate a sound growth plan while maintaining the financial responsibilities of the business. According to Beckett-Camarata (2003), “The findings for practitioners indicate that strategic planning and capital budgeting are a major influence on financial performance and that the combination of capital budgeting and strategic planning constitutes a strategic decision-making process” (p. 23). This means an organization’s success contributes to the strategic and financial planning of the corporation. A strategic plan is the process of an organization defining the direction to take the corporation, the goals of the business, and the
I believe this is important because of the following statement “In Business Modeling we document business processes using so called business use cases. This assures a
Strategic Plan, Part III: Balanced Scorecard BUS/475 09/10/2013 Strategic Plan, Part III: Balanced Scorecard A balanced scorecard will explain a lot about a business and justifies the planned actions within the business plan. Atta Boy Outdoors stands behind their commitment to their business plan and their customers. In the next segments, the author will discuss the business’s balanced scorecard and how the potential owner will implement each of the segments of the score card. The balanced score card “is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals” (Balanced Scorecard, 2013). The financial perspective of the balanced score card gives the owner and the customer a way of providing and showing long term and short term objectives for the business as it grows, the same goes for the other three strategic goals in the balanced score card.
For further elaboration following elements are used in the balanced scorecard: Financial Perspective Internal Processes Learning and Growth Customer Perspective Strategy Map for Ashton Graduate School: The strategy map specifically provides the information about the strategic direction towards the objectives that are more significant for all the employees of the company to act on it accordingly. Strategic mapping of the Ashton Graduate School starts with the financial perspective of the balanced score card; after the financial perspective, customer perspective, internal perspective, and learning as well as growth perspective will be mapped
Cost of capital can help define the acceptability of investment opportunities. Besides, the cost of capital can scheme the corporate finance arrangement. Generally, the best way for designing the corporate finance structure is based on information of changing of the capital market. So, manager can figure out information like accounting reports and their cost of capital to market. By using the information, manager can use cost of capital for restructure the market price and earning per share in order to bring advantage for company.
Answer: TRUE Diff: 2 Key Term: Production Objective: LO1 Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization 4) Operations management is the set of activities that creates value in the form of goods and services by transforming inputs into outputs. Answer: TRUE Diff: 1 Key Term: Operations management Objective: LO1 Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization 5) An example of a "hidden" production function is the transfer of funds between accounts at a bank. Answer: TRUE Diff: 2 Key Term: Production Objective: LO1 Learning Outcome: Discuss operations and operations management as a competitive advantage for the organization 6) At Hard Rock Café, tasks that reflect operations or operations management include: A) designing efficient layouts. B) providing meals. C) receiving ingredients.