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Unfavorable Performance

You have just begun work as a management accountant for a medium-sized manufacturing company. When you begin work, you find that there are literally no performance metrics or reports of any kind. The general manager expects you to set up whatever performance measures and monitoring reports as you feel are necessary.

Explain what you plan to do.

For a manufacturing firm, list at least 5 different reports that should be set up to monitor performance. Include samples of what at least 2 of them would look like.

Who in the organization chart would have the responsibility for achieving the desired performance that each of these 2 sample reports would monitor?

Create an example of how an unfavorable performance would appear for each of these 2 sample reports, and include the advice you would give to the responsible manager if he or she asked you for help to fix the problem.

Solution Preview

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Date : May 21, 2010
To : [Name]
General Manager
[Company name]
From : [Name]
Management Accountant
[Company name]
Subject : Performance Measures and Monitoring Reports

Establishing performance measures which quantify and explicitly identify management expectations of the company's employees is a necessary function of management. Moreover, these performance measures become the basis of the monitoring reports. Without monitoring reports, the organization and its managers and employees will have no basis to compare its goals that is where it wants to be at a specific time, and to where it actually is at the moment. Hence, it ...

Solution Summary

In 438 words, this solution discusses five monitoring reports the firm can use, as well as information regarding each.