This question appeared in the June 2015 exam.
The following statements have been made in relation to the concepts outlined in throughput accounting:
(1) Inventory levels should be kept to a minimum
(2) All machines within a factory should be 100% efficient, with no idle time
Which of the above statements is/are correct?
The first statement is correct as throughput accounting discourages production for inventory purposes and is often used in a just in time environment.
The second statement is incorrect as in throughput accounting it is the bottleneck resource which should be 100% efficient which actually may mean unused capacity elsewhere.
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A government is trying to assess schools by using a range of financial and non-financial factors. One of the chosen methods is the percentage of students passing five exams or more.
Which of the three Es in the value for money framework is being measured here?
The following statements have been made about measuring performance in not-for-profit organisations:
(1) Output does not usually have a market value, and it is therefore more difficult to measure effectiveness.
(2) Control over the performance can only be satisfactorily achieved by assessments of ‘value for money’.
Which of the above statements is/are true?
The senior manager is suspicious of a local manager’s accounts and thinks that the profit performance may have been overstated.
Which of the following would be a plausible explanation of an overstatement of profit?
Which of the following statements regarding standard setting is correct?
When setting performance measurement targets it should be considered that there is the possibility that managers will take a short term view of the company and may even be tempted to manipulate results in order to achieve their targets.
Which of the following would assist in overcoming the problems of short-termism and manipulation of results?
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