Question
PLEASE ANSWER a and b Selection of Balanced Scorecard Items The International Accountants' Association is a professional association. Its current membership totals 97,600 worldwide. The
PLEASE ANSWER a and b
Selection of Balanced Scorecard Items
The International Accountants' Association is a professional association. Its current membership totals 97,600 worldwide. The association operates from a central headquarters in New Zealand but has local membership units throughout the world. The local units hold monthly meetings to discuss recent developments in accounting and to hear professional speakers on topics of interest. The association's journal, International Accountant, is published monthly with feature ankles and topical interest areas. The association publishes books and reports and sponsors continuing education courses. A statement of revenues and expenses follows:
INTERNATIONAL ACCOUNTS ASSOCIATION
Statement of Revenues and Express
For Year Ending November 30, 2014
Revenues
$26,700,000
Expenses:
Salaries
$14,000,000
Other personal costs
3,400,000
Occupancy costs
2,000,000
Reimbursement to local units
Other membership services
800,000
500,000
Printing and paper
320,000
Postage and shipping
114,000
Generaland administrative
538,000(21,672,000)
________________________
Excess of revenues over expenses$5,028,000
_____________
_____________
Additional information follows:
Membership dues are $200 per year, of which $50 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 International Accountant are sold to nonmembers for $80 each. A total of 2,500 of these subscriptions were sold. In addition to subscriptions, the journal generated $200,000 in advertising revenue. The cost per magazine was $20.
A total of 30,000 technical reports were sold by the Books and Reports Department at an average unit selling price of $45. Average costs per publication were $12.
The association offers a variety of continuing education courses to both members and nonmembers. During 2014, the one-day course, which cost participants an average of $250 each, was attended by 31,300 people. A total of 1,985 people took two-day courses at a cost of $400 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 $44,000,000 and had an actual cost of capital of 11 percent.
Required
a.Give some exam of key financial performance indicators (no computations needed) that could be part of a balanced scorecard for the IAA.
b.Give some examples of key customer and operating performance indicators (no computations needed) that could be part of a balanced scorecard for IAA
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