Responsibility Accounting

Question 1

Financial Scorecards

Answer 1

budget vs actual and other variance reports

Question 2

balanced scorecard

Answer 2

FICA

Financial responsibility - SBU
Internal business processes - efficient/effective operations
Customer satisfaction
Advancement of innovation & HR development (learning and growth)

Question 3

SBU

Answer 3

Strategic Business Unit

Question 4

Cost SBU

Answer 4

Responsibility for one dimension of financial performance, the level of costs incurred

Question 5

Revenue SBU

Answer 5

revenue generation is not under the control of the managers,

Question 6

Profit SBU

Answer 6

requires managers to maintain control of revenues and costs and the relationship between the two

Question 7

Investment SBU

Answer 7

organizational segment with the highest level of responsibility. managers consider cost, revenue and their relationship, as well as the relationship between profits generated and assets invested

Question 8

SBU Classification

Answer 8

Goal Congruence, improved operational and financial control, isolating the relevant measures of financial performance