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management accounting

Questions and Answers of Management Accounting

Benchmarking: field exercise with other students Assume that you are an aver¬age student who has a desire to be one of the best students in class. Your profes- sor suggests that you benchmark the
Environmental costs, activity-based costing. Kaizen costing Evans Co. LO 5,6 makes two products, product X and product Y. Evans has produced product X for many years without generating any hazardous
Explicit and implicit environmental costs Refer to Case 6-59, which de- LO 6 scribes Kwik Clean's environmental costs.REQUIRED(a) Identify explicit and implicit environmental costs that Pat Polley
discuss the four key behavioral considerations in MACS design LO1
explain the human resources model of management LO1
discuss task and results control systems LO1
apply the ethical control framework to decisions LO1
understand the balanced scorecard and its applications LO1
discuss the links between different incentive systems and performance LO1
What are the four major behavioral consid¬ erations in MACS design? (LO 1)
What is the scientific management view of motivation? (LO 2)
What is the human relations movement view of motivation? (LO 2)
What is the human resources model view of motivation? (LO 2)
What are the four requirements of ethical conduct by which certified management accountants (CMAs) have to abide?(LO 4)
What are some choices that individuals can make when ethical conflicts arise? (LO 4)
What is an ethical control system, and what are its key elements? (LO 4)
What are the three key dimensions of moti¬ vation? (LO 3)
What is goal congruence? (LO 3)
How does task control differ from results control? (LO 3)
List and explain the two categories in task control. (LO 3)
List three quantitative financial measures of performance in a manufacturing organiza¬ tion of your choice. (LO 3)
List three quantitative financial measures of performance in a service organization of your choice. (LO 3)
List three quantitative nonfinancial measures of performance in a manufacturing organiza¬ tion of your choice. (LO 3)
List three quantitative nonfinancial measures of performance in a service organization of your choice. (LO 3)
List three qualitative measures of perfor¬ mance. (LO 3)
What is gaming? (LO 3)
What is data falsification? (LO 3)
What is a balanced scorecard? (LO 5)
What are the four measurement perspectives in the balanced scorecard? (LO 5)
What are two essential elements in em¬ ployee empowerment? (LO 6)
What is an intrinsic reward? (LO 6)
What is an extrinsic reward? (LO 6)
What is incentive compensation? (LO 6)
What are the six attributes of effective per¬ formance measurement systems? (LO 6)
What type of organization is best suited to incentive compensation? Why? (LO 6)
What is a cash bonus? (LO 6)
What is profit sharing? (LO 6)
What is gainsharing? (LO 6)
What is a stock option plan? (LO 6)
Managerial approaches to motivation How do the scientific management, LO 2 human relations, and human resource schools differ in their views on human motivation?
Characteristics of a MACS: ethical issues List and describe the hierarchy of LO 4 ethical considerations.
Characteristics of a MACS: ethical issues What should a person do if faced LO 4 with a conflict between his or her values and those of the organization?
Characteristics of a MACS: ethical issues What should a person do if the or- LO 4 ganization's stated values conflict with practiced values? What are the individ¬ ual's choices? Why do you think
Choosing an approach to control Think of any setting in need of control. Ex- LO 3 plain why you think that task control or results control would be more appro¬ priate in the setting that you have
Characteristics of a MACS: multiple performance measures What is the ad- LO 3 vantage of having multiple measures of performance?
Understanding performance measurement Why is it important that people LO 3 understand what performance is measured, how performance is measured, and how employee rewards relate to measured
Controllable performance Why should performance measurement systems LO 3 and rewards focus on performance that employees can control?Motivating Behavior in Management Accounting and Control Systems
Tailoring performance measurement to the job In a company that takes telephone orders from customers for general merchandise, explain how you would evaluate the performance of the company president,
Characteristics ofa MACS: rewards Can goal congruence be increased if re¬ wards are tied to performance? Explain.LO1
Nongoal-congruent behavior What distinguishes data falsification and gam¬ ing activities?LO1
Nongoal-congruent behavior List some methods of gaming performance in¬ dicators.LO1
Nongoal-congruent behavior Can you think of instances when gaming be¬ havior is appropriate in an organization?LO1
Characteristics of a MACS: participation What are the advantages for the in¬ dividual in being able to participate in decision making in the organization, and what are the advantages for the
Choosing what to reward Explain when one would reward outcomes or out¬ puts, reward inputs, or use knowledge-based pay.LO1
Choosing the reward level You work for a consulting firm and have been given the assignment of deciding whether a particular company president is overpaid both in absolute terms and relative to
Using cash bonuses When should an organization use a cash bonus?LO1
Using profit sharing When should an organization use profit sharing?LO1
Using gainsharing When should an organization use gainsharing?LO1
Using stock options When should an organization use stock options?LO1
Rewarding group performance How would you reward a group of people that includes product designers, engineers, production personnel, purchasing agents, marketing staff, and accountants, whose job is
MACS design motivation Explain why an understanding of human motiva¬ tion is essential to MACS design.LO1
Behavioral considerations in MACS design List the four key behavioral con¬ siderations in MACS design, and explain the importance or benefits of each.LO1
Ethics quiz Refer to The Wall Street Journal Workplace-Ethics Quiz in the In- Practice box on page 401. Discuss reasons why individual respondents might feel justified answering as they did.LO1
Ethics Suppose you are the CEO of a manufacturing firm that is bidding on a government contract. In this situation, the firm with the lowest bid will win the contract. Your firm has completed
Characteristics of MACS design: ethical issues During data collection for the transition from an old management accounting system to a new activity- based cost management system, you see a manager's
Characteristics of MACS: types of information Under what circumstances should both quantitative and qualitative performance measures be used to evaluate employee, workgroup, and divisional
Designing a balanced scorecard Consider the manager of a store in a fast- food restaurant chain. Construct a balanced scorecard to evaluate that man¬ ager's performance.LO1
Evaluating system performance Suppose that you are the manager of a pro¬ duction facility in a business that makes plastic items that organizations use for advertising. The customer chooses the
Characteristics of MACS design: participation and education Explain how participation in decision making and education to understand information contribute toward employee empowerment in MACS
Characteristics of MACS design: rewards What are some pros and cons of tying an individual's pay to performance?LO 4 Motivating Behavior in Management Accounting and Control Systems 427
Designing reward structures Answer these two questions about the organi¬zation units listed below:■ What behavior should be rewarded?■ What is an appropriate incentive system?(a) A symphony
Designing a compensation plan Suppose that you are the owner/manager of a house-cleaning business. You have 30 employees who work in teams of three. Teams are dispatched to the homes of customers
Motivating desired performance Darlington Engineering is a research and development company that designs equipment for nuclear generating stations. The company consists of an administrative unit, a
Profit-sharing plan at Hoechst Celanese Hoechst Celanese, a pharmaceutical manufacturer, has used a profit-sharing plan, the Hoechst Celanese Performance Sharing Plan, to motivate employees. To
Profit sharing Peterborough Medical Devices makes devices and equipment that it sells to hospitals. The organization has a profit-sharing plan that is worded as follows:The company will make
Gamsharing Lindsay Cereal Company manufactures a line of breakfast cere¬ als. The production workers are part of a gainsharing program that works as follows. A target level of labor costs is set
Scanlon plan Bathurst Company manufactures household paper products. LO 6 During a recent quarter, the value of the products made was $50 million and the labor costs were $3 million. The company has
Characteristics of MACS design: ethical issues You are a management ac- LO 4 countant working in the controller's office. Rick Koch, a very powerful execu¬ tive, approaches you in the parking lot
Designing a balanced scorecard The following exhibit appeared in Weirton LO 5 Steel Corporation's 1990 annual report:We are bound together in these common beliefs and values. We must . . .For the
Developing a balanced scorecard for a university Develop a balanced scorecard that the dean or director of your school may use to evaluate the school's operations. Be specific and indicate the
Choosing what to reward During the late 1970s, Harley-Davidson, the mo¬ torcycle manufacturer, was losing money and was very close to bankruptcy. Management believed that one of the problems was low
Characteristics of MACS design: participation vs. imposition Denver Jack's is a large toy manufacturer. The company has 100 highly trained and skilled employees who are involved with six major
Evaluating a compensation plan Beau Monde, Inc., a manufacturer tributor of health and beauty products, made the following disclosu its compensation program:and dis- re about 432 Chapter 10 Our
The mix of salary and commission Belleville Fashions sells high-quality LO 6 women's, men's, and children's clothing. The store employs a sales staff of 11 full-time people and 12 part-time people.
Distributing a bonus pool Four broad approaches to distributing the pro¬ceeds of a bonus pool in a profit-sharing plan are listed below.(1) Each person's share is based on salary.(2) Each person
Characteristics of MACS design: types of information Chow Company is an insurance company in Hong Kong. Chow hires 55 people to process insur¬ ance claims. The volume of claims is extremely high and
Implementing the balanced scorecard Find either by visiting a site or from a description in a published article a description of the implementation of a bal¬ anced scorecard.REQUIRED(a) Document in
Rewarding long-term performance In 1983, Johnson Controls Inc. devel- LO 6 oped a seven-year performance plan for two of their most senior-level execu¬ tives. In each of the seven years, the base
Outline: (a) the objectives of budgetary planning and control systems; of a master budget. (b) the organization required for the preparation (7 marks) (10 marks) (Total 17 marks)
The preparation of budgets is a lengthy process which requires great care if the ultimate master budget is to be useful for the purposes of manage- ment control within an organization. You are
You are the management accountant of a group of companies and your managing director has asked you to explore the possibilities of introducing a zero-base budgeting system experimentally in one of
The chief executive of your organization has recently seen a reference to zero-base budgeting. He has asked for more details of the technique. You are required to prepare a report for him explaining:
(a) corporate planning and budgeting are complementary, rather than the former super- seding the latter.' Compare the aims and main features of 'corporate planning' and 'budgeting' systems. (12
A budgetary planning and control system may include many individual budgets which are inte- grated into a 'master budget'. You are required to outline and briefly explain with reasons the steps which
Traditional budgeting systems are incremental in nature and tend to focus on cost centres. Activity based budgeting links strategic planning to overall performance measurement aiming at continuous
Preparation of functional budgets D Limited is preparing its annual budgets for the year to 31 December 2001. It manufactures and sells one product, which has a selling price of 150. The marketing
Preparation of functional budgets Data Wilmslow Ltd makes two products, the Alpha and the Beta. Both products use the same material and labour but in different amounts. The company divides its year
Budget preparation and comments on sales forecasting methods You have recently been appointed as the manage- ment accountant to Alderley Ltd, a small company manufacturing two products, the Elgar and
Preparation of cash budgets The following data and estimates are available for ABC Limited for June, July and August.The following information is available regarding direct materials: June July () ()
Preparation of cash budgets The management of Beck plc have been informed that the union representing the direct production workers at one of their factories, where a standard product is produced,

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