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Acct. Ch. 9

Goessel Acct. Ch. 9

TermDefinition
Decentralized Organization Decision-making authority is spread throughout the organization rather than being confined to a few top executives.
Responsibility Center Is used for any part of an organization whose manager has control over and is accountable for cost, profit, or investments.
Cost Center Has control over costs, but not over revenue or the use of investment funds.
Profit Center Has control over both costs and revenue, but not over the use of investment funds.
Investment Center Has control over cost, revenue, and investments in operating assets.
Return on Investment (ROI) Net operating income divided by average operating assets.
Operating Assets Include cash, accounts receivable, inventory, plant and equipment, and all other assets held for operating purposes.
Net Operating Income Is income before interest and taxes and is sometimes referred to as EBIT (earnings before interest and taxes).
Margin Is NOI divided by sales.
Turnover Is Sales divided by Average Operating Assets
Economic Value Added (EVA) Is an adaption of residual income that has been adopted by many companies.
Residual Income Is the net operating income that an investment center earns above the minimum required return on its operating assets.
Delivery Cycle Time The amount of time from when a customer order is received to when the completed order is shipped.
Throughput time Also known as Manufacturing Cycle Time, is the amount of time required to turn raw materials into completed products.
Manufacturing Cycle Efficiency (MCE) Throughput time, which is a key measure in delivery performance, can be put into better perspective.
Balanced Scorecard Consists of an integrated set of performance measures that are derived from and support a company's strategy.
Created by: sfrase
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