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These flashcards will cover these topics:
Budget Concepts (Behavior Issues): (32)
A. Managerial and Organizational Goals (8) – agency theory, adverse selection, moral hazard, authority, responsibility, accountability, management by objective programs, sub-unit’s goals affect on organization’s goals, purpose of overall budget, suboptimization, effective responsibility systems.
B. Issues in Developing Budgets and Standards (11) –benefits of employee participation, behavioral causes of planning failure, behavioral effects of budgets on managers, advantages of participatory development standards, behavioral implications of tight standards, methods to overcome employee resistance to change, communication in the decision process, benefits of participative budgeting, trait-type appraisals, management by objective programs , process to maximize acceptance of flexible budget systems, behavioral implications of inflexible budgets.
C. Issues in Reporting and Evaluation (13) – budget’s role on controlling costs, behavioral patterns of employees and management, behavioral implications when measuring performance, behavioral implications of evaluator on evaluatee, allocation of common costs to divisions, performance evaluation process, purpose of control system, classical vs. behavioral approaches to control systems, unreliable feedback, evaluating choice of transfer pricing policy, single vs. multiple measures of performance, balanced scorecard approach. |
