Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 14, Problem 1CMA
Which of the following statements regarding the balanced scorecard is not correct?
- a. It seeks to address the problems associated with traditional financial measures used to assess performance.
- b. The notion of value chain analysis plays a major role in the drawing up of a balanced scorecard.
- c. It relies on the perception of the users with regard to service provided.
- d. It is directly derived from scientific management theories.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Which of the following is true about designing an accounting−based performance measure?
A. Management's beliefs are not required during the analyses.
B. The issues considered in each step are independent.
C. The decisions made in steps are followed in a hierarchical order.
D. Behavioral criteria are important when evaluating the steps
Which of the following statements is false?
A. The four dimensions of performance that are considered in a balanced scorecard are financial, customer, internal process, and learning and growth
B. A balanced scorecard will include qualitative and quantitative measures
C. A balanced scorecard is the campatibility between personal goals and the goals of the organization
D. Stakeholders cannot include stockholders
Which of the following statements about performance targets is true?
a.Performance targets have nothing to do with performance metrics.
b.Performance targets are the same thing as strategic initiatives.
c.Performance targets are the same thing as performance metrics.
d.Performance targets are levels of improvement that management wants to achieve for performance metrics.
Chapter 14 Solutions
Managerial Accounting
Ch. 14 - How does a strategic performance measurement...Ch. 14 - What is the difference between a leading indicator...Ch. 14 - Prob. 3DQCh. 14 - Prob. 4DQCh. 14 - What do strategy maps show, and how do they add...Ch. 14 - Prob. 6DQCh. 14 - Prob. 7DQCh. 14 - Prob. 8DQCh. 14 - How is sustainability distinguishable from...Ch. 14 - How can the balanced scorecard be used to address...
Ch. 14 - 72 Inc. has developed a balanced scorecard with...Ch. 14 - Bluetiful Inc. has the following strategic...Ch. 14 - Moses Moonrocks Inc. has developed a balanced...Ch. 14 - Prob. 4BECh. 14 - Lonnies Shipping Co. is considering switching to...Ch. 14 - Henrys Cafe is a local restaurant that is growing...Ch. 14 - American Express Company is a major financial...Ch. 14 - Eat-n-Run Inc. owns and operates 10 food trucks...Ch. 14 - Prob. 4ECh. 14 - Prob. 5ECh. 14 - The following is the balanced scorecard for Smith...Ch. 14 - Grand Grocery developed a balanced scored with six...Ch. 14 - Coulson and Company is a large retail business...Ch. 14 - Rizzo Goal Inc. produces and sells hockey...Ch. 14 - Silver Lining Inc. has a balanced scorecard with a...Ch. 14 - Two departments within Cougar Gear Inc. are...Ch. 14 - Sunny Nights Inc. is completely powered by the...Ch. 14 - Instructions 1. Label each element of the balanced...Ch. 14 - Strategic initiatives and CSR Get Hitched Inc. is...Ch. 14 - Prob. 3PACh. 14 - Instructions 1. Based on the balanced scorecard...Ch. 14 - Strategic initiatives and CSR Blue Skies Inc. is a...Ch. 14 - Eye Swear Inc. has a balanced scorecard that...Ch. 14 - Den-Tex Company is evaluating a proposal to...Ch. 14 - Analyze CSR initiatives at Boxwood Company Boxwood...Ch. 14 - Analyze CSR initiatives at Green Manufacturing...Ch. 14 - Prob. 1TIFCh. 14 - Blake McKenzie Tax Services is a company serving...Ch. 14 - Young Manufacturing Company is a startup...Ch. 14 - The fundamental concept behind strategic...Ch. 14 - Which of the following statements regarding the...Ch. 14 - The balanced scorecard provides an action plan for...Ch. 14 - Which of the following statements best describes...Ch. 14 - A sign of the successful implementation of a...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- Which of the following statements is false? A. The four dimensions of performance that are considered in a balanced scorecard are financial, customer, internal process, and learning and growth B. A balanced scorecard will include qualitative and quantitative measures. C. Stakeholders cannot include stockholders. D. A balanced scorecard is the compatibility between personal goals and the goals of the organization.arrow_forwardWhich of the following is not an objective used in the balanced scorecard approach? Customer Financial Vendor Learning and growtharrow_forwardWhich of the following statements is false? Group of answer choices A. The four dimensions of performance that are considered in a balanced scorecard are financial, customer, internal process, and learning and growth. B. A balanced scorecard will include qualitative and quantitative measures. C. Stakeholders cannot include stockholders. D. A balanced scorecard is the compatibility between personal goals and the goals of the organization.arrow_forward
- Match the qualitative characteristics below with the following statements. 1. Relevance 2. Faithful representation 3. Predictive value 4. Confirmatory value 5. Comparability 6. Completeness 7. Neutrality 8. Timeliness a. Quality of information that permits users to identify similarities in and differences between two sets of economic phenomena. b. Having information available to users before it loses its capacity to influence decisions. c. Information about an economic phenomenon that has value as an input to the processes used by capital providers to form their own expectations about the future. d. Information that is capable of making a difference in the decisions of users in their capacity as capital providers. e. Absence of bias intended to attain a predetermined result or to induce a particular behavior.arrow_forwardMatch the qualitative characteristics below with the following statements. 1. Timeliness 2. Completeness 3. Free from error 4. Understandability 5. Faithful representation 6. Relevance 7. Neutrality 8. Confirmatory value a. Quality of information that assures users that information represents the economic phenomena that it purports to represent. b. Information about an economic phenomenon that corrects past or present expectations based on previous evaluations. c. The extent to which information is accurate in representing the economic substance of a transaction. d. Includes all the information that is necessary for a faithful representation of the economic phenomena that it purports to represent. e. Quality of information that allows users to comprehend its meaning.arrow_forwardWhich of the following is not a characteristic of a good performance measurement system? Group of answer choices A. timely B. consistent C. based on activities over which managers have no control or influence D. uses both long- and short-term performances and standardsarrow_forward
- Should an organization focus on controllable or uncontrollable factors to effectively implement a successful performance measurement system? Explain your answer.arrow_forwardWhich of the following statements best describes the performance elements found on most balanced scorecards? a. The balanced scorecard contains neither financial nor nonfinancial performance measures. b. The balance scorecard contains nonfinancial but not financial performance measures. c. The balanced scorecard contains financial but not nonfinancial performance measures. d. The balanced scorecards contains both financial and nonfinancial performance measures.arrow_forwardWhich of the following is not a characteristic of a good performance measurement system? A. timely B. consistent C. based on activities over which managers have no control or influence D. uses both long- and short-term performances and standardsarrow_forward
- Which of the following is NOT one of the limitations of Management Accounting?Select one:a. Lack of wide knowledgeb. Complicated approachc. Costly systemd. Concerned with the futurearrow_forwardBoth financial and nonfinancial performance measures are key inputs when evaluating the performance of managers. a. true b. falsearrow_forwardWhich of the following statements is true? 1. Financial measures such as ROI are generally better than nonfinancial measures of key success drivers such as customer satisfaction as lead indicators of future financial performance. II. The performance measures on a balanced scorecard tend to fall into four groups: financial measures, customer measures, internal business process measures, and learning and growth measures. III. Financial measures such as ROI and residual income as well as operating measures may be included in a balanced scorecard. Multiple Choice Both statements II and Ill are true. None of the statements are true. Both statements I and Ill are true. All of the statements are true. planningarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Managerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub
Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax College
Managerial Accounting
Accounting
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College
Elements of cost | Direct and Indirect: Material, Labor, & Expenses; Author: Educationleaves;https://www.youtube.com/watch?v=UFBaj6AHjHQ;License: Standard youtube license