Balanced Scorecard Preparation

The following information is presented for the Worldwide Auditor's Association. In the budget of the current year, the organization had set a membership goal of 75,000 members with the followinganticipated results (actualresults for the year-end are also shown).

Worldwide Auditors' AssociationRevenues and ExpensesFor Year Ending November 30($ in thousands)

PlannedActualRevenues$54,436$55,702ExpensesSalaries28,00028,050Other personnel costs7,0005,872Occupancy costs6,0005,545Reimbursement to local units2,5002,536Other membership services1,5001,200Printing and paper500383Postage and shipping300165General and administrative1,000845Excess of revenues over expenses$7,636$6,106

Additional information (PLANNED):

One-year subscriptions toWorldwide Auditorwere anticipated to be 8,000 units.

Advertising revenue was budgeted at $450,000. Each magazine was budgeted at a cost of $48.

A total of 25,000 technical reports were anticipated at an average price of $100 with average costs of $36.

The budgeted one-day courses had an anticipated attendance of 25,000 with an average fee of $600. The two-day courses had an anticipated attendance of 5,000 with an average fee of $1,000 per person.

The organization began the year with net capital assets of $84,100,000 with a planned cost of capital of 6 percent.

Additional information (ACTUAL):

Membership dues are $480 per year, of which $100 is considered to cover a one-year subscription to the association's journal. Other benefits include membership in the association and unit affiliation.

One-year subscriptions to Worldwide Auditor are sold to nonmembers for $120 each. A total of 10,000 of these subscriptions was sold. In addition to subscriptions, the journal generated $500,000 in advertising revenue. The cost per magazine was $50.

A total of 30,000 technical reports was sold by the Books and Reports Department at an average unit selling price of $110. Average costs per publication were $36.

The association offers a variety of continuing education courses to both members and nonmembers. During the year, the one-day course, which cost participants an average of $600 each, was attended by 25,600 people. A total of 3,800 people took two-day courses at a cost of $1,000 per person.

General and administrative expenses include all other costs incurred by the corporate staff to operate the association.

The organization has net capital assets of $87,230,000 and had an actual cost of capital of 6 percent.

Required

a. balanced scorecard for IAA for November with calculated key performance indicators presented in two columns for planned performance and actual performance--include key financial, customer, and operating performance indicators.

Notes:

• Include all zeros with figures. For example, Planned Total Revenues for $54,436 (thousand) is entered as $54,436,000.
• Do not use negative signs with any of your answers.

PlannedActualFinancial informationTotal revenuesAnswer

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Total costsAnswer

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Journal advertisingAnswer

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ROI (round to three decimal places)Answer

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Residual incomeIncomeAnswer

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Minimum returnAnswer

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Residual incomeAnswer

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Customer informationCourse attendanceAnswer

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Technical reports soldAnswer

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Operating criteriaAverage cost per special publicationAnswer

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Average cost per magazineAnswer

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Other personnel costs vs. salaries*Answer

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*Compute as a ratio. Round three decimal places.