Cost managment∶accounting and control 第十三章解答手册.docVIP

PAGE PAGE 290 CHAPTER 13The balanced scorecard:strategic-based control questions for writing and discussion PAGE 291 1. A strategic-based responsibility accounting system converts an organization’s mission and strategy into operational objectives and measures for four perspectives: the financial perspective, the customer perspective, the process perspective, and the learning and growth perspective. It differs from activity-based responsibility accounting because of the formal linkage to strategy and because it adds two perspectives to the responsibility dimension: the customer perspective and the learning and growth perspective. 2. A Balanced Scorecard is a strategic-based performance management system that translates an organization’s vision and strategy into operational objectives and mea-sures for four perspectives: financial, customer, process, and learning and growth. 3. Balanced measures mean that the strategic measures used are made up of a proper mix of integrated financial and nonfinancial measures that are both predictive and historical and which may be subjective or objective in nature. 4. Lag measures reflect what has happened. Lead measures reflect what may happen. (They are performance drivers.) 5. Objective measures are quantifiable and verifiable. (Verifiable means that the values are the same from one person to the next.) Subjective measures are less quantifiable and judgmental in nature (indicating that their values can vary from one person to the next). 6. Stretch targets are targets that are set at levels that, if achieved, will transform the organization within three to five years. Their strategic purpose is to bring the organization to the level envisioned by the strategy. 7. A strategic-based reward system is designed to encourage and support the implementation of the organization’s strategy. Rewards are offered for both financial and nonfinancial performance. (Traditional rewards are mostly tied to financial performance.) 8. Th