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1.'Strategy mapping' in the balanced scorecard is best described as?

Setting the mission

Agreeing the strategy with the director of the business

Identifying causal links between the four perspectives

Mapping the business' processes

2. A "Sky is the Limit" designer sunglass retailer has recognised that identifying and maintaining customer satisfaction and loyalty is the one of the critical success factors.

Which report will give the most vital information necessary to monitor customer loyalty?

Average dollar amount spent by each customer

A report analysing customers who promoted the business through word of mouth

A report showing the percentage of customers who make a repeat purchase

A report showing a list of new customers

3.Ontime Ltd is a highly successful Bus company within the transport industry in Victoria. Its financial reports show an average revenue growth of 10 percent and annual company profits growth of 5 percent each year since it started in 20X7. However, the board of Ontime Ltd is concerned about the social and environmental responsibilities and long-term sustainability of the business. The board want to implement a framework to address this issue, as the management accountant at Ontime Ltd, which framework would you recommend?

Benchmarking

Balance Scorecard

Six Sigma framework

Triple Bottom Line reporting

4.Which of the following is an example of an efficiency measure?

The number of insurance claims processed per day

The goal of becoming a leading manufacturer

The rate of absenteeism

The rate of customer complaints

5.In the context of an organisation monitoring qualitative indicators, which of the following statements is not correct?

Qualitative measures of performance are an essential tool in both commercial and non-for-profit organisations

Qualitative measures of performance involve gathering people's opinions

Qualitative measures of performance by their very nature are not quantifiable

Qualitative measures of performance are subjective and therefore need to be used with care

6.As the management accountant of Delta Pty Ltd you have been requested to work with Russell Crow the Chief Strategy Officer to create a strategy map for Delta. Which of the following statements are correct in relation to a strategy map for Delta Pty Ltd?

I. Reflects the assumptions of its business model.

II. Is a visual approach that identifies the assumed cause-effect relationships. III. Identifies the need for performance measures and their associated target

II and III only

I, II and III

I and III only

I and II only

7.Astor Car Rentals enjoys strong branding and market share in the market place. It suspects that one if its major competitors is about to launch a totally different service under a new brand offering to the market. From a strategic analysis perspective, this would be best described as?

Existing rivalry in the industry

Threat of substitute service/product

Bargaining power of customers

Threat of a new entrant

8.STR is a banking group specialising in home loans. It has a network of branches, cash machines and other outlets in and around the capital city ( Where it has its headquarters) with all outlets within 70 kilometers. It monitors interest rates offered by competitors and strives to match or better the lowest rates. This strategy has been successful, but in order to compete more fully, it has introduced a range of additional customer services, including home insurance. A dedicated unit was established to collect and analyse the following data of its competitors:

* Delivery:

* Technical content of literature; and

* Customer service and correspondence.

Which performance measure is STR banking group considering?

BCG Matrix

Six Sigma

Industry Benchmarking

Porter's Five force

9.Which one of the following statements about a balanced scorecard is not correct?

It relies on the perception of the users with regard to service provided

The notion of value chain analysis plays a major role in the drawing up of a balanced scorecard

It is directly derived from the scientific management theories

It seeks to address the problems associated with traditional financial measures used to assess performance

10.Tenara Goldsmith is the Management accountant at "Shopallday Shopping Centres Ltd". Tenara is calling for tenders for the shopping centre cleaning contract as it is due for renewal. Tenara is happy with the current service provider as they are very competitive in price and also provide good service. However she is required by the company policy to call for and compare three tenders. While Tenara was comparing the tenders, she noticed that one of the suppliers offers an annual holiday in Hawaii for two if they were to win the contract. Tenara was so tempted as she has not been on a holiday for a while and she awarded the contract to this supplier even though they were not the most beneficial for the company. Which threat is Tenara creating for the company?

Advocacy threat

Self-review threat

Intimidation threat

Self-interest threat

11.Performance measures are comprised of a range of attributes. Which of the following would not be categorised as one of the attributes?

Understandable

Consistency

Effectiveness

Accuracy

12.Sue Atkins is the management accountant at WAW Holdings Limited. She has been assigned to redevelop the current monthly financial management reporting system. She believes that there is a need to incorporate more non-financial information in it. Talking to her colleagues she is getting confused about the role non-financial measures should play in monthly reporting.

Which one of the following statements about non-financial performance measures is not correct?

Non-financial measures should correspond as far as possible with the aims of the organisation as a whole

The non-financial measures vary, depending upon the nature of the organisation

As non-financial measures are qualitative, their objectivity is questionable

The use of non-financial performance measures helps to address the deficiencies of measurements such as Return on Investment (ROI)

13.Pie in The Sky Airline is based in Perth, Western Australia ( WA). It charters small planes that are used to fly employees from Perth, the capital city of WA, to mines and other worksites in remote areas of Australia. Below are some of the operational

performance measures of Pie in the Sky.

Operational indicators 2018 2019 2020 2021

ASK-Available Seat 126.21 132.36 154.84 148.36

Kilometre (millions) 95.13 97.54 110.96 103.44

RPK- Revenue Passenger 82% 83% 81% 82%

Kilometre (millions) 0 0 0 0

Based on the above data, the most accurate statement would be, over the four

years:

Capacity utilisation (RPK/ASK) declined from 75 per cent to 70 per cent

Revenue growth per passenger has increased by 9 per cent

All of the other statements are correct

On-time performance

Incidents and near misses

14Which of the following is not a reason that worker involvement is important in an effective performance management system?

Workers are more likely to understand financial measures than nonfinancial measures

Many managers believe that when workers take on real decision-making authority, their commitment to the organisation and its objectives increases

Giving decision-making responsibility to workers uses their skills and knowledge and motivates them to further develop those skills and knowledge in an effort to improve the organisation's performance

When decision-making responsibility lies with workers closer to the customer, workers are more responsive to customer concerns and can make informed decisions

15.Most organisations maintain comprehensive statistical data to support planning, decision-making and control. This information may come from:

1. Data captured as a by-product of the accounting process

II. External surveys

III. Published data IV. Value creating activities

I, II, III and IV

I and III only

I and II only

I, II and III only

16.Which of the following statements regarding multiple measures or a single measure of performance in a department is correct?

If the corporate office has better knowledge of what it requires to operate a profitable department, using multiple measures provides a way to communicate this knowledge and achieve common department operations

The use of multiple measures can influence department managers' decisions by changing the components of the performance management system to reflect changes in the firm's strategy

The advantage of using department profits to evaluate department managers is that profit is relatively simple to compute and department manager may have direct control of it

All the listed responses are correct

17.Using the balanced scorecard approach, an organisation evaluates managerial performance based on:

A single ultimate measure of operating results, such as residual income

Multiple financial measures only

Multiple financial and nonfinancial measures

Multiple nonfinancial measures only

18.Which of the following statements is not correct with respect to best practices analysis?

Best practice analysis is a way or method of accomplishing a business function or process that is considered to be superior to all other known methods

The balanced scorecard facilitates best practice analysis

Best practices analysis assumes that a lesson learned from one area of a business can be passed on to another area of the business or between businesses

The concept of benchmarking is incompatible with best practices analysis

20.Which of the following statements is not correct with respect to best practices analysis?

Best practice analysis is a way or method of accomplishing a business function or process that is considered to be superior to all other known methods

The balanced scorecard facilitates best practice analysis

Best practices analysis assumes that a lesson learned from one area of a business can be passed on to another area of the business or between businesses

The concept of benchmarking is incompatible with best practices analysis

21.'Managers never completely own responsibility for the all the decisions made by them since they are not the owners of the business'. To which of the following theories is the above statement attributable to?

Expectancy theory

Agency theory

Contingency theory

Equity theory

22.Secret Escapes is a specialist travel retailer that enjoys strong branding and market share in the market place. It suspects that one if its major competitors is to launch a new service under a new brand where a website is linked to Google Earth allowing customers to view various places on earth in a 360 degree view. From a strategic analysis perspective, this would be best described as?

Threat of substitute service/product

Threat of a new entrant

Bargaining power of customers

Existing rivalry in the industry

23.John Superstar, the management accountant at FDC Ltd was discussing with his CEO some of the performance management factors that the company could use to evaluate performance of the company. Based on your understanding of the Cranfield performance prism, which of the following does not form part of this framework?

Leadership and profitability

Stakeholder satisfaction

Stakeholder contribution

Strategies

24. Perfection Building Materials is a manufacturing company that manufactures many types of building materials and its operations are broken down into divisional cost centres. Head office determines the investment policy for its divisions and retains central control over selling, marketing and research and development functions. Raw material and labour costs of each division are determined by Jack Wright, manager of the Tile department, but Jack's salaries and benefits are determined by CEO Julie Ferguson.

The following costs are attributable to the Tile Division's operations for the year ended 30 June 20XY:

Depreciation of fixed assets 108000

Marketing manager's salary 28000

Raw materials 488000

Factory labour costs 382000

Selling costs 45000

Repairs to fixed assets 12000

Cost of new product development 98000

What is the total of the costs that are controllable by Jack Wright?

870 000

980 000

1161 000

1 088 000

25.Taggart Ltd is a women's clothing retailer that has modest market share, competes on price and delivery and its stores are viewed as being tired. Which of the following best describes Taggart's strategy?

Stuck in the middle

Cost focus

Cost differentiation

None of the other choices

26.Syntax Computer Services Ltd requires all its departmental mangers to report back to the head office on any adverse variances between actual and budgeted numbers. As a result of having to report back, departmental managers act swiftly to bring back actuals in line with the budgeted targets. This process is known as:

None of the other choices

Positive feedback

Cybernetic feedback

Budget feedback

27.Which of the following statements about performance management is not valid?

Accounting and management controls are used to change the performance of individuals

Cultural factors can influence the design of performance management

O Cultural norms influence performance measures for guiding short term behaviour

Power bases within an organisation can influence the importance of performance measures

28.LKR Kitchen designs Ltd is a high-end tailor made kitchen and storage solutions company focused on a differentiation strategy. John Martin, the CFO of the company has asked the management accountant to come up with four performance measures to ensure that the company is achieving its differentiation strategy. Which one of the following is not a good performance management method for a company pursuing a differentiation strategy?

Conduct a survey to measure advertising effectiveness

Conduct a comprehensive cost breakdown to identify areas to achieve cost reduction

Measure number of successful innovations within last six months

Hire external consultants to measure brand reputation

29.As the Business Analyst of Greener Pastures Ltd you are assisting Jane Johnston the General Manager of Recreational Division to select KPIs for the division. You advise Jane to avoid selecting lagging performance indicators. Jane asks you what a lagging performance indicator is?

O Delayed reporting of performance

An indicator that depends on another performance measure

An indicator that highlights past performance

An indicator that can anticipate future performance

30.CFS Pty Ltd is a financial planning services company. It provides a premium service not normally associated with other financial services companies. Their fees are significantly higher than competitors. Heavy investment in technology allows them to keep costs to a minimum. CFS strategy is best described as being:

Cost focus

Differentiation focus

Differentiation

Cost leadership