BAR: Non-FS and Non-GAAP Test Mistakes Flashcards
What is the most important purpose of a balanced scorecard?
Measure performance
A strategy objective in the balanced scorecard framework is
a statement of what the strategy must achieve and what is critical to its success.
Generic Benchmarking
Benchmarking to the best practices regardless of the industry
Internal Benchmarking
Benchmarking within the firm
Competitor Benchmarking
Benchmarking against direct competitors
Functional Benchmarking
Benchmarking within the same broad industry
Horizontal Analysis
Comparisons of results and ratios for the same firm over time
Vertical Analysis
Comparisons of relationships in the firm’s financial statements for a single year
Cross-sectional Analysis
Comparing results and ratios to those of other firms in the same industry
In an effort to reduce or eliminate nonvalue-added activities, an important dimension of the activity is
whether the customer would identify the activity as adding value
Control chart
Statistical plot that helps to detect deviations before they generate defects
Pareto diagram
Ranks the causes of process variations by the degree of impact on quality
Cause-and-effect diagram
Used to identify the potential causes of defects
Fishbone diagram
Alternate name for cause-and-effect diagrams
Committed costs are costs that
establish the present level of operating capacity and cannot be altered in the short run
