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 following anticipated results (actual results for the year-end are also shown). Worldwide Auditors' Association Revenues and Expenses For Year Ending November 30 ($ in thousands) Planned Actual Revenues $54,436 $55,702 Expenses Salaries 28,000 28,050 Other personnel costs 7,000 5,872 Occupancy costs 6,000 5,545 Reimbursement to local units 2,500 2,536 Other membership services 1,500 1,200 Printing and paper 500 383 Postage and shipping 300 165 General and administrative 1,000 845 Excess of revenues over expenses $7,636 $6,106 Additional information (PLANNED): One-year subscriptions to Worldwide Auditor were 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. Prepare 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. Planned Actual 5,046,000 X $ x OX 5,233,800 x 0 X OX OX OX 0 x OX 0X $ 0x Financial information Total revenues $ Total costs Journal advertising ROI (round to three decimal places) Residual income Income $ Minimum return Residual income $ Customer information Course attendance Technical reports sold Operating criteria Average cost per special publication $ Average cost per magazine $ Other personnel costs vs. salaries *Compute as a ratio. Round three decimal places. OX Ox 0X $ 0 x OX 30,000 OX 0X $ 0 x OX 0X $ Ox 0 x
