重庆大学经济与工商管理学院管理会计课件 chapter14（2）.pptVIP

Financial Performance Evaluation and Transfer Pricing in the Decentralized Firm Learning Objectives Define responsibility accounting责任会计 and describe four types of responsibility centres责任中心. Explain why companies decentralize分权. Learning Objectives Compute and interpret return on investment (ROI)投资报酬率, residual income (RI)剩余收益and economic value added (EVA)经济附加值. Explain the role of transfer pricing转移定价 in decentralized companies. Responsibility Accounting Responsibility accounting is a system that measures the results of each responsibility centre according to the information managers need to operate their centres. There are four major types of responsibility centres: Cost centre成本中心 Revenue centre收入中心 Profit centre利润中心 Investment centre投资中心 Decentralization: The Major Issues The degree of decentralization Performance measurement Management compensation The setting of transfer prices Reasons for Decentralization There are many reasons to explain why firms decide to decentralize, including: 1. Utilization of local information 2. Strategic focus of central management 3. Training and motivational opportunities for managers 4. Enhanced competition among divisions Measuring the Performance of Investment Centres Return on Investment (ROI) Residual Income (RI) Economic Value Added (EVA) Components of ROI An ROI Example Margin毛利率 and Turnover周转率 Comparisons Advantages of ROI Disadvantages of the ROI Measure Components of RI An RI Example Advantages of Residual Income Disadvantages of the RI Measure Economic Value Added Economic value added (EVA) is after-tax operating profit minus the total annual cost of capital. EVA = After-tax operating income - (Weighted average cost of capital x total capital employed) Cost of Capital There are two steps involved in computing cost of capital: 1. determine the weighted average cost of capital (a percentage figure) 2. determine the total dollar amount of capital employed Weighted Average Cost of Capital加权平