By Andrew M. McCosh, Michael J. Earl
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Additional resources for Accounting Control and Financial Strategy: Teachers’ Manual
Dr. Loan expense 26,000 Cr. Other assets - deferred loan expense 26,000 The capital surplus portion will remain on the balance sheet indefinitely, or until it is decided to remove the amount by a journal entry relieving capital surplus and crediting retained profits. Appendix 1 ANALYSIS OF HISTORICAL DATA Profitability Profit as a per cent ofturnover net assets capital employed shareholders' investment Cash Sufficiency: working capital/turnover Lt. 72 28 Appendix 2 PROJECTED DEBT POSITION (£OOO's) 1976 Opening Balance - end 1975 long-term short-term Less: subsidiary debt not guaranteed - FFI NDC Opening balance - restricted debt New borrowing - (ins.
Responsibility accounting seeks autonomy and depends on performance measurement. These three criteria can rarely be fully satisfied in combination. Suboptimisation cannot be avoided; we seek to minimise it. 4. Transfer prices are a source of potential conflict under decentralisation. The. solution willbe a balance between the needs of economic decision-making and the requirements of decentralisation, namely evaluation of performance and unit autonomy. 5. Controls do not guarantee control. Controls can distort, be too narrow, be manipulated or generate conflict.
How meaningful is ROI? Is Crest a best treated as an investment centre and its departments as cost centres? Finally of course improvements can be discussed. Planned or budgeted comparisons would clearly be of value. However, any change to such analysis and reporting is secondary to the overall redesign of the management control system and the recommendations on transfer pricing. 6. Conclusions In discussing the redesign of the management control system and its subsequent operation, two issues stand out.