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What are the challenges to informational quality?
Conflicting functional needs
System constraints
Non integrated processes
Conflicting functional needs
System constraints
Non integrated processes
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Define: Ideal Standards
Ideal standards represent costs that result from perfect efficiency and effectiveness in job performance.
Ideal standards represent costs that result from perfect efficiency and effectiveness in job performance.
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Define: Currently Attainable Standards
Currently attainable standards represent costs that result from work performed by employees with appropriate training and experience but without extraordinary effort.
Currently attainable standards represent costs that result from work performed by employees with appropriate training and experience but without extraordinary effort.
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Margin of Safety in Dollars
Total Sales - Breakeven sales
Margin of Safety %
margin of safety in dollars / total sales or revenue
Total Sales - Breakeven sales
Margin of Safety %
margin of safety in dollars / total sales or revenue
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Breakeven point in dollars
Total fixed costs / contribution margin ratio
Total fixed costs / contribution margin ratio
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Contribution Margin Ratio
Contribution Margin / Revenue
Contribution Margin / Revenue
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Strategic Positioning
During strategic positioning, a firm will determine the best manner to achieve organizational goals and assess the quality practices of the organization.
During strategic positioning, a firm will determine the best manner to achieve organizational goals and assess the quality practices of the organization.
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Steps and Formula for economic value added:
1. Compare income to the required return
Investment x cost of capital = required return
2. Calculate the required amount of return and income after taxes
Income after taxes - required return = economic value added
1. Compare income to the required return
Investment x cost of capital = required return
2. Calculate the required amount of return and income after taxes
Income after taxes - required return = economic value added
Last edited by Royal on Wed May 02, 2012 10:38 am, edited 1 time in total.
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Two Quantitative Methods for Evaluating Risks
Interval Measurement: Numerical scale measurements of events
Ratio Measurement: Proportional scale measurements of events
Interval Measurement: Numerical scale measurements of events
Ratio Measurement: Proportional scale measurements of events
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List Two Qualitative Methods for Evaluating Risks
Nominal Measurements: Groupings of events into like kinds
Ordinal Measurements: Lists of events in order of importance
Nominal Measurements: Groupings of events into like kinds
Ordinal Measurements: Lists of events in order of importance