Reference no: EM13912691
SELECTION OF BALANCED SCORECARD ITEMS
The International Accountants' Association is a professional association. Its current membership totals 110,000 worldwide. The association operates from a central headquarters in New Zealand but has local membership chapters throughout the world. The local chapters 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 articles and topical interest areas. The association publishes books and reports and sponsors continuing education courses. A statement of revenues and expenses follows:
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 chapter 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 2009, the one-day course, which cost participants an average of $75 each, was attended by 34,400 people. A total of 2,630 people took two-day courses at a cost of $125 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 prefers to maintain a cost of capital of 10 percent.
Required
a. Give some examples 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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