Term
| Most ST decisions deal with temporary gaps between what? |
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Definition
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Term
| there are two ways to close the gap between supply and demand, what are they? |
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Definition
| relevant cost analysis, totals/gross approach |
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Term
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Definition
| plan for limited resources |
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Term
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Definition
Planning and Control
Planning, Coordination, and Control |
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Term
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Definition
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Term
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Definition
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Term
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Definition
| GAAP, seperates prudct and period costs |
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Term
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Definition
| direct costing, seperates VC and FC |
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Term
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Definition
1. form cost pools
2. decide which costs to allocate
3. identify cost drivers
4. measure denominator volume |
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Term
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Definition
| represents firm's experience in customer profitability |
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Term
| ABC method evaluates the profitability of what? |
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Definition
| products, customers, resources |
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Term
| cost allocations have two limitations |
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Definition
1. operating cost of capital (time value)
2. lumpy nature of capacity resources |
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Term
| 5 methods used when determining costs |
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Definition
| NPV, IRR, Payback Period, Modified Payback Period, ARR |
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Term
| benefits of decentralization |
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Definition
| train people, co-locates knowledge and decision rights, increase satisfaction, timely decisions |
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Term
| costs of decentralization |
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Definition
| need for monitoring, incentices |
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Term
| three types of responsibility centers |
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Definition
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Term
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Definition
| operating income before taxes/netbook value of assets averaged over a year |
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Term
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Definition
| profit-required rate x investment |
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Term
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Definition
| cost-based, market based, negpotiated |
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Term
| effective performance measures |
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Definition
| align goals, yield max info about decisions or actions, easy to measure, easy to understand/communicate |
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Term
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Definition
| benchmarking, kaizen - continuous improvement |
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Term
| a controllable performance measure does what? |
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Definition
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Term
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Definition
| some approach to creating and sustaining a value proposition, source of customer value |
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Term
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Definition
| comptetition, sustainability, core-competency |
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Definition
| cost, product differentiation |
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Term
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Definition
| value chain, life cycle, target costing |
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Term
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Definition
| CFSs like avg sale/cutomer, complaints, inventory turn |
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Term
| monitoring - balance scorecard |
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Definition
| innovation and learning, internal business, financial, customer |
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