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Measuring managerial performance-new challenges. Many commentators have argued that the deterioration in manufacturing productivity results from a preoccupation with short-term financial performance measures. Many firms base bonus plans for senior executives on annual accounting income. This method provides incentives to take actions that enhance short-term earnings performance but that may not serve the best long-term interests of the firm. By contrast, firms in other countries give executives incentives to ensure the long-run viability of their companies. Consequently, they are more concerned than their North American counterparts with long-run productivity, quality control, and managing the company's physical assets.
Not everyone agrees with the observation that North American business executives are preoccupied with short-term financial performance to the extent that they would take actions contrary to the best long-run economic interests of the organization just to make themselves look good on the performance measures. But suppose that an executive faces a choice between an action with a positive short-run effect on performance measures and another that has better long-run consequences for the organization but that will not affect short-run performance measures positively. We cannot fault a rational executive for taking the action that looks good in the short run. As the saying goes, ‘‘You have to look good in the short run to be around in the long run.''
How would you design a control system that encourages top-level managers to be concerned about long-run productivity, quality of products, and the long-run economic well- being of the company? Assume that these managers have previously focused on maximizing quarterly and annual earnings numbers to the detriment of these other factors.
Prepare adjusting entries for the seven items - Drew Carey collected $40,000 for consulting services to be performed from December 1, 2010, through March 31, 2010.
after researching the different forms of business organization mariam decides to operate cookie creations as a
Identify the objective of financial reporting and describe the level of sophistication expected of the users of financial information by the objective of financial reporting.
Identify the amount of under or overapplied overhead, and indicate whether the Cost of Goods Sold account should be increased or decreased to reflect actual overhead costs.
Prepare a statement of cost of goods sold in good form. What if only 32,000 cell phones were to be sold next year? Explain whichlines of the statement of cost of goods sold would be affected and how.
debt common stock and percentage of debt fund.allensworth motors forecasts that its earnings per share will be 3.00
Arley's Bakery makes fat-free cookies that cost $1.50 each. Arley expects 15% of the cookies to fall apart and be discarded. Arley wants a 45% markup on cost and produces 200 cookies. What should Arley price each cookie? Round to the nearest cent.
Evaluate what is Emma's basis in her partnership interest and find what is Laine's basis in her partnership interest what basis does the partnership take in property transferred by Laine
A note was signed with principal and 7% interest to be paid on September 30, 2014 - Vacation pay for the year that had been earned by employees but not paid to them or recorded is $8,700.
q spoiled baby corp sells baby buggies and has started an equipment replacement project. you are needed to evaluate the
franklin s tower company completes these transactions during april of the current year the terms of all its credit
Information about the use of direct materials at EZ Toys' Trucks Division for October - Prepare Truck Divisions direct materials variances for October.
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