Performance Measurement

SCS – L3 – Q27- Strategy, stakeholders and mission

Identify strategic issues for Zuri Enterprises' board and explain how the balanced scorecard measures performance.

Question

(a)

(i) Identify strategic issues that should engage the attention of the Board of Directors of Zuri Enterprises.

(ii) Explain how the balanced scorecard can be used to measure performance in Zuri Enterprises.

(b) Discuss measures which shareholders may seek to resolve any agency problems in Zuri Enterprises.

Answer

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Tags: Balanced Scorecard, Business Environment, Corporate Strategy, CSR, KPIs, Performance Measurement, Strategic management
Level: Level 3

Topic: stakeholders and mission, Strategy

SCS – L3 – Q9- Strategy implementation

Describe four perspectives of the Balanced Scorecard for Printworks Ltd.

Question

Case Study: PrintWorks Incorporated
You are the Management Accountant of PrintWorks Incorporated, a local printing and publishing house located in the regional capital of Kumasi. Your CEO has asked you to brief him further on the balanced scorecard approach.

Required:
(a)(i) In a memo to the CEO, describe FOUR perspectives of a balanced scorecard.

(a)(ii) In a memo to the CEO, explain THREE problems usually associated with the use of this approach for strategic management.

(b) Identify and explain THREE of these inherent characteristics and how they facilitate Management by Objectives (MBO).

Answer

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Tags: Balanced Scorecard, Management Accounting, Performance Measurement, Strategic management
Level: Level 3

Topic: Financial management

MA – L2 – Q62 – Divisional performance

Calculate ROI for a new investment project at Kumasi Tech Ltd over three years.

Question

Kumasi Tech Ltd is organised into several investment centres. The annual performance of each investment centre is measured on the basis of ROI. ROI is measured each year as the profit before interest as a percentage of the average investment/average capital employed in the investment centre.
One of the investment centres has achieved a ROI in excess of 35% in each of the past four years. Its managers are considering a new investment project that will have the following cash flows:

Year	Cash flow
Beginning of Year 1	(42,000)
1–3	19,000 each year

The initial investment will be in an item of machinery that will have no residual value at the end of Year 3. Assume that depreciation is charged on a straight-line basis.
Required:
(a) Calculate the ROI for the project, each year and on average for the three-year period.

(b) Suggest whether the managers of the investment Centre are likely to invest in the project.

Answer

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Tags: Depreciation, Divisional performance, Investment centre, Performance Measurement, ROI
Level: Level 2

Topic: Divisional performance

MA – L2 – Q56 – Performance analysis

Discuss methods and qualities of good performance measurement in management accounting.

Question

PERFORMANCE MANAGEMENT
Methods used in measuring performance
Financial Performance: analyse profitability, liquidity and risk. Financial Indicators include Profit, Revenue, Costs, Share Price and cash flow.
Non-Financial Performance: This can usefully be applied to employees and product/service quality. Non-Financial Indicators may include Quality of Service, Measures of customer satisfaction, Lateness.
Qualities of Good Performance Measurement

A GOOD MEASURE:	DESCRIPTION:
Is quantitative	The measure can be expressed as an objective value
Is easy to understand	The measure conveys at a glance what it is measuring, and how it is derived
Encourages appropriate behaviour	The measure is balanced to reward productive behaviour and discourage “game playing”
Is visible	The effects of the measure are readily apparent to all involved in the process being measured
Is defined and mutually understood	The measure has been defined by and/or agreed to by all key process participants (internally and externally)
Encompasses both outputs and inputs	The measure integrates factors from all aspects of the process measured
Measures only what is important	The measure focuses on a key performance indicator that is of real value to managing the process
Is multidimensional	The measure is properly balanced between utilisation, productivity, and performance, and shows the trade-offs
Uses economies of effort	The benefits of the measure outweigh the costs of collection and analysis
Facilitates trust	The measure validates the participation among the various parties

Answer

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Tags: Financial Performance, Management Accounting, Non-financial performance, Performance indicators, Performance Measurement
Level: Level 2

MA – L2 – Q10 – Performance analysis

Explain benchmarking and its benefits, describe its implementation in a purchasing department, and discuss potential implementation challenges.

Question

AMINU COMPANY

AMINU Company manufactures and distributes generic paper-based products and currently has an annual turnover of GH¢10 million.

At present, the management of AMINU Company are uncertain whether the purchasing department is maximising its potential in terms of purchasing efficiency and effectiveness.

The management are currently considering the introduction of a system of benchmarking to measure the performance of the purchasing department.

Required:

(a) Explain the term ‘benchmarking’ and briefly discuss the potential benefits that can be obtained as a result of undertaking a successful programme of benchmarking.

(b) Describe how a system of benchmarking could be introduced to measure the performance of the purchasing department.

(c) Discuss the problems that the management of AMINU Company might encounter in implementing a system of benchmarking and recommend how such problems should be successfully addressed.

Answer

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Tags: Benchmarking, Cost Management, Management Accounting, Performance Measurement, Purchasing efficiency
Level: Level 2

Topic: Performance Analysis

MA – L2 – Q4 – Performance Analysis

List the four aspects of a balanced scorecard and suggest its application for a football club with performance targets.

Question

4 BALANCED

A balanced scorecard approach may be used to set performance targets and monitor performance.

(a) List the four aspects of performance in a balanced scorecard approach.

(b) Suggest how a professional football club might use a balanced scorecard approach. Indicate what key aspects of performance might be identified and suggest performance targets that a football club might use in a balanced scorecard approach.

Answer

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Tags: Balanced Scorecard, Customer Perspective, Financial Perspective, Innovation, Internal Processes, Performance Measurement
Level: Level 2

Topic: Performance Analysis

Tag (SQ): Performance Measurement

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SCS – L3 – Q27- Strategy, stakeholders and mission

Identify strategic issues for Zuri Enterprises' board and explain how the balanced scorecard measures performance.

SCS – L3 – Q9- Strategy implementation

Describe four perspectives of the Balanced Scorecard for Printworks Ltd.

MA – L2 – Q62 – Divisional performance

Calculate ROI for a new investment project at Kumasi Tech Ltd over three years.

MA – L2 – Q56 – Performance analysis

Discuss methods and qualities of good performance measurement in management accounting.

MA – L2 – Q10 – Performance analysis

Explain benchmarking and its benefits, describe its implementation in a purchasing department, and discuss potential implementation challenges.

MA – L2 – Q4 – Performance Analysis

List the four aspects of a balanced scorecard and suggest its application for a football club with performance targets.

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SCS – L3 – Q27- Strategy, stakeholders and mission

Identify strategic issues for Zuri Enterprises' board and explain how the balanced scorecard measures performance.

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SCS – L3 – Q9- Strategy implementation

Describe four perspectives of the Balanced Scorecard for Printworks Ltd.

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MA – L2 – Q62 – Divisional performance

Calculate ROI for a new investment project at Kumasi Tech Ltd over three years.

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MA – L2 – Q56 – Performance analysis

Discuss methods and qualities of good performance measurement in management accounting.

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MA – L2 – Q10 – Performance analysis

Explain benchmarking and its benefits, describe its implementation in a purchasing department, and discuss potential implementation challenges.

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MA – L2 – Q4 – Performance Analysis

List the four aspects of a balanced scorecard and suggest its application for a football club with performance targets.

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