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Financial Perspective
How do we produce value for our shareholders? This perspective covers traditional measures e.g. growth, liability, shareholder value. But these are set once the key areas for improvement have been identified and the balanced score card is the main monthly report. The score card is balanced in the sense that managers are required to think in terms of all perspective to prevent improvement being made in one area at the expense of another. Significant features of this approach are:
EXTRA SHIFT DECISION These decisions are concerned with whether or not a company should work for 8 hrs, 16hrs, or 24 hrs a day or week days only or weekends also. The factors
Financial manager's role in inventory management The techniques of inventory management are very useful in determining the optimum level of inventory and finding answers to the
Identification of decision packages - Zero base budgeting Each manager should break down his decision unit into smaller decision packages. Top manager may lay down the minimum
Comparing real and planned outcomes and responding to Divergences from Plan The final phases in the process outlined in figure shown below of comparing real and planned outcome
How to write introduction on strategy plan
INTERPRATATION OF VARIANCE Controllability, Materiality and Trend are the interpretation of variance. The point of comparing flexed budget and real figures is to see what corre
Budget Preparation The organization's budget is ready following the acceptance and sanction of the decision packages. Once the budget of organization has been accepted manager
JIT purchasing On the other hand is a purchasing system in which material purchased are contracted so as that the receipt and usage of materials to the maximum extent possible,
what do you debit and what do you credit in adjusting entry for prepaid rent?
What is Sealed bid pricing Another from of competition oriented pricing is the sealed bid pricing. In a large number of projects, industrial marketing and marketing to the gove
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