November 2008
Beginner
448 pages
11h 33m
English
Content preview from Budgeting Basics and Beyond
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22.12. Conclusion
It is essential to evaluate a segment's performance to identify problem areas. Factors that are controllable or not controllable by the division manager must be considered. The various means of evaluating performance include cost center, profit center, revenue center, and investment center. The calculations for each method, along with proper analysis, are vital in appraising operating efficiency. Managers should understand the advantages and disadvantages of each method as well as when each is most appropriate.
The manager should be familiar with the profit and loss statements by territory, commodity, method of sale, customer, and salesperson. The profit and loss figures will indicate areas of strength and weakness.
The establishment of a realistic transfer price is essential in order to properly evaluate divisional performance and to arrive at appropriate product costing and profitability.
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