...Q1 1) Participative budgeting的概念 Q: Who can tell me the concept of that? A: It refers to the level of involvement lower level managers have in setting their own budget. 2) 两个extreme是什么 Q: As we know, there are also two extremes of participation in the budget process. So what are they? A: “Top-down” and “bottom-up”. Q2 1) Participative budgeting的优点 Q: Firstly, I wonder who knows the advantages of participative budgeting. A: Uses managers’ specific knowledge Encourages communication and coordination between managers Creates “ownership” of the final budget targets. 2) Participative budgeting 的缺点 Q: So what about the disadvantages? A: slow. Opens the firm up to influence costs, especially when budget performance is tied to the reward system. Budgetary slack. 3) 优缺点在case中如何体现 (每人说一点就好) Q: Now go back to this case, what advantages and disadvantages are evident in this case? A: (1) This case says that each BU is responsible for a different product, so maybe it can create “ownership” of the final target budgets. (2) In this case, as Ben said, the managers know so much more about the details of their part of the business than he does, so I think it has the advantage to use the managers’ specific knowledge. (3) In the end, Ben complained about the budgets and cut their expense budgets, this may state that participative budget opens the firms up to influence. Q3 给公司提供advice(每人说一点就好) Q: This question asks us to advise Ben to change his budget...
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...Queensland University of Technology Faculty of Business School of Accountancy AYB321 – Strategic Management Accounting Readings: o AYB321 Text, Chapter 6, to p202 (BSZ Chapter 14) o AYB321 Text, Chapter 7 (BSZ Chapter 15) o For reference: Lipe, M and Salterio, S. (2000). The balanced scorecard: Judgemental effects of common and unique performance measures The Accounting Review, 75 (3), 283-389. (on CMD) Overview: Lectures 6 & 7 explore the use of Kaplan and Norton’s Balanced Scorecard (BSC) as a strategic performance measurement and evaluation method. Lecture 6 introduces the BSC by providing the performance measurement context, defining financial and non-financial and lead and lag indicators, and providing an overview of the four perspectives of Kaplan and Norton’s Balanced Scorecard. Lecture 7 explores and demonstrates the process of BSC development via strategy maps and KPI selection, before discussing the key findings of BSC-related research. Lectures 6 & 7 are structured as follows: Lecture 6: 1. Introduction 2. What is the BSC? 3. The four perspectives Lecture 7: 4. Strategy maps 5. Creating a BSC 6. What does the research say? 1. Introduction a) Performance Measurement Performance measurement serves the following purposes: Evaluate performance, and provide rewards Communicate the strategy, plans Allow managers to track their own...
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...AYB321 Strategic Management Accounting Practice Question Solutions ------------------------------------------------- Tutorial 4 ------------------------------------------------- BUDGETING SYSTEMS (1) Review Questions: 1. Briefly describe the five purposes of budgeting. * Planning: During the process, a budget model can be used for scenario analysis. At the end of the process, the budget ‘quantifies a plan of action’. * Facilitating communication and coordination: The budget provides a mechanism for achieving coordination, as it forces the different BU managers to communicate their plans and assumptions to each other. * Allocating resources: The departments compete for resources at budget time with (usually) most of the resources going to the department that is achieving the highest return. * Controlling profit and operations: Once produced, the budget becomes a benchmark against which actual performance can be compared. * Evaluating performance and providing incentives: The budget also becomes a benchmark for evaluating and rewarding managers. 2. Why do most firms begin their budget formulation process with sales revenue? Once senior management has settled upon a strategy (including what products to sell into what markets), the marketing people can estimate the level of sales they expect to achieve in the coming period. This then informs the operations departments regarding the level of activity and therefore resources...
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...Accredited Tertiary Courses Listing 2012 Accredited Tertiary Courses Listing 2012 – as at 26 September 2012 1 2012 Accredited Undergraduate Courses AUSTRALIAN CAPITAL TERRITORY The Australian National University University of Canberra NEW SOUTH WALES Australian Catholic University Australian Institute of Higher Education Avondale College Charles Sturt University Kings Own Institute Macquarie University Southern Cross University Top Education Institute The University of New England The University of New South Wales The University of Newcastle The University of Sydney University of Technology, Sydney University of Western Sydney University of Wollongong Williams Business College NORTHERN TERRITORY Charles Darwin University QUEENSLAND Australian Catholic University Bond University Central Queensland University Christian Heritage College Griffith University James Cook University Queensland University of Technology The University of Queensland The University of Southern Queensland University of the Sunshine Coast SOUTH AUSTRALIA Flinders University Kaplan Business School The University of Adelaide University of South Australia Open Universities (conferred by Uni of SA) TASMANIA University of Tasmania VICTORIA Australian Catholic University Cambridge International College Carrick Higher Education Deakin University Holmes Institute Holmesglen Institute of TAFE La Trobe University Melbourne Institute of Technology Monash University Northern Melbourne Institute of TAFE RMIT...
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