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Lecture Notes for ISE 3004 - Industrial Cost Control with Moore at Virginia Tech (VT)

Notes Information

Material Type:Note 9
Professor:Moore
Class:ISE 3004 - Industrial Cost Control
Subject:Industrial and Systems Enginee
University:Virginia Polytechnic Institute And State University
Term:Spring 2008
Keywords:
  • Controllable Cost
  • Goal Congruence
  • Management Control
  • Responsibility Center
  • Segment Margin
  • Performance Measurement
  • Periodicals
  • Following Costs
  • Organizational Learning
  • Performance
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Sample Document Text

CHAPTER 9 MANAGEMENT CONTROL SYSTEMS AND RESPONSIBILITY ACCOUNTING TRUE / FALSE: LEARNING OBJECTIVE 1 1. A management control system is a logical integration of management accounting tools to gather and report data and to evaluate performance. True Measures of performance should not be consistent with organizational goals. False 2. LEARNING OBJECTIVE 2 3. 4. A responsibility center for controlling revenues as well as costs is called a revenue center. False A profit center can exist in nonprofit organizations. True LEARNING OBJECTIVE 3 5 A well-designed management control system ignores nonfinancial objectives and focuses on financial objectives to develop and report measures of performance. False Improvements in business processes must take place across all parts of the value chain. True Improvements in business processes must take place across all parts of the value chain. True Good performance measures should be reasonably subjective. False Financial measures often are lagging indicators that arrive too ...

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