Understanding the big-picture is vital if managerial, employee and organization goals are to be in alignment. Participate in this course to understand how to align management and organizational goals and the associated budgeting, performance evaluation and reporting behavioral issues. Familiarize yourself with the definitions, tactics and processes that will enable you to establish budgets and standards that can align goals for success throughout an organization. See how budgets can drive positive and negative effects, the role of performance feedback, and how control systems can cost-effectively achieve goals.
After completing this session you will be able to:
- Define agency theory and goal congruence.
- Identify the steps in the planning process and recognize the characteristics of each step.
- Recognize the external and internal factors to be considered when developing a budget.
- Recognize the advantages/disadvantages of and reasons for budgeting and the types of budgets.
- Define and recognize the characteristics of standards, variance analysis and budgetary slack.
- Identify the types and objectives of management compensation and performance feedback.
- Define and recognize the characteristics of responsibility accounting.
- Define and recognize the role of flexible budgets.
- Identify goals and methods of transfer pricing.
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