Cost12eppt 23 Tr

BAB 23

Pengukuran Kinerja, Kompensasi,

dan Pertimbangan Multinasional

23-2To accompany Cost Accounting 12e, by Horngren/Datar/Foster. Copyright © 2006 by Pearson Education. All rights reserved.

Ukuran Kinerja Keuangan dan Nonkeuangan Banyak organisasi menyajikan secara

meningkat mengenai ukuran kinerja keuangan dan nonkeuangan untuk submit-submit mereka dalam Balanced Scorecard, dan memiliki 4 perspektif :

1. Keuangan2. Pelanggan3. Proses Bisnis Internal4. Pembelajaran dan Pertumbuhan


Arus Balanced Scorecard

Perusahaan melakukan perbaikan dalam perspektif pembelajaran dan pertumbuhan yang mengarah pada perbaikan dalam persepektif proses bisnis internal

Perbaikan dalam proses bisnis internal akan mengarah pada perbaikan dalam perspektif pelanggan dan perspektif keuangan


Dasar Akuntansi Pengukuran Kinerja

Memerlukan 6 langkah proses :1. Memilih ukuran kinerja yangsejalan dengan tujuan

keuangan manajemen puncak2. Memilih horizon waktu untuk setiap ukuran kinerja3. Memilih defenisi dari komponen disetiap ukuran

kinerja4. Memilih alternatif ukuran untuk setiap ukuran kinerja5. Memilih tingkat target kinerja6. Memilih waktu dari umpan balik


Langkah 1: Memilih di Antara Berbagai Ukuran Kinerja 4 ukuran yang sering digunakan untuk kinerja

ekonomi :1. Tingkat pengembalian investasi (ROI)2. Laba residu (RI)3. Nilai tambah Ekonomi (EVA)

Memilih pendapatan operasi sebagai ukuran adalah kurang tepat karena dengan jelas berbeda dalam ukuran yang berbeda dari sub unit


Tingkat Pengembalian Investasi (ROI) ROI adalah ukuran akuntansi dari laba dibagi dengan

ukuran akuntansi dari investasi

IncomeInvestmentROI =


ROI Lebih dikenal karena dua alasan :

1. Menggabungkan semua bahan untuk profitabilitas (pendapatan, biaya, dan invetasi) dalam satu persentase tunggal

2. Terkadang dapat dibandingkan dengan ROI lainnya didalam maupun diluar perusahaan

Disebut juga Accounting Rate of Return (ARR) atau Accrual Accounting Rate of Return (AARR)


ROI

ROI disajikan dalam 2 komponen :

ROI = tingkat pengembalian Penjualan X Perputaran persediaan

Pendekatan tersebut dikenal sebagai metode analisis profitabilitas DuPont

Income Income RevenuesInvestment Revenues InvestmentX=


Laba Residu Laba residu (RI) adalah ukuran akuntansi dari laba

dikurangi jumlah dolar untuk tingkat pengembalian yang dapat diterima dari ukuran akuntansi untuk investasi

RI = pendapatan – (tingkat pengembalian yang diterima RRR x investasi) RRR = Required Rate of Return

Tingkat pengembalian dikali investasi merupakan imputed cost dari investasi Imputed costs adalah biaya yang diakui dalam situasi

tertentu tetapi tidak dimasukkan dalam catatan akuntansi keuangan


Economic Value Added (EVA®) EVA adalah jenis perhitungan RI spesifik yang

belakangan ini banyak menarik perhatian

Weighted-average cost of capital (WACC- biaya modal rata-rata tertimbang) sama dengan biaya rata- rata setelah pajak dari semua dana jangka panjang yang digunakan

After-tax Weighted-Average Total CurrentOperating Income Cost of Capital Assets Liabilities ) }EVA {= X (


Tingkat pengembalian penjualan (Return on Sales-ROS) Tingkat pengembalian penjualan adalah laba

operasi dibagi penjualan Lebih mudah untuk dihitung, dan dapat

dimengerti


Langkah 2: Memilih Horizon Waktu dari Ukuran Kinerja Kalikan periode dari evaluasi beberapa

dengan tepat ROI, RI, EVA, dan ROS menyajikan hasil

suatu peride tunggal ROI, RI, EVA, dan ROS dapat di sesuaikan

pada evaluasi perkalian suatu periode


Langkah 3 : Memilih Defenisi Alternatif untuk Ukuran Kinerja 4 defenisi alternatif yang dapat digunakan

dalam investasi :1. Total aktiva tersedia2. Total aktiva yang digunakan3. Total aktiva yang digunakan dikurangi

kewajiban lancar4. Ekuitas pemegang saham


Langkah 4 : Memilih Alternatif Pengukuran untuk Ukuran Kinerja Defenisi alternatif yang digunakan dalam

biaya :1. Biaya saat ini2. Nilai kotor dari biaya tetap3. Nilai buku bersih dari biaya tetap


Langkah 5 : Memilih Target Tingkat Kinerja Historically driven targets used to set target

goals Goal may include a Continuous Improvement

component


Step 6: Choosing the Timing of the Feedback Timing of feedback depends on:

How critical the information is for the success of the organization

The specific level of management receiving the feedback

The sophistication of the organization’s information technology


Performance Measurement in Multinational Companies Additional Difficulties faced by Multinational

Companies: The economic, legal, political, social, and cultural

environments differ significantly across countries Governments in some countries may impose controls

and limit selling prices of a company’s products Availability of materials and skilled labor, as well as

costs of materials, labor, and infrastructure may differ across countries

Divisions operating in different countries account for their performance in different currencies


Distinction between Managers and Organization Units The performance evaluation of a manager

should be distinguished from the performance evaluation of that manager’s subunit, such as a division of the company


The Trade-Off: Creating Incentives vs. Imposing Risk An inherent trade-off exists between creating

incentives and imposing risk An incentive should be some reward for

performance An incentive may create an environment in

which suboptimal behavior may occur: the goals of the firm are sacrificed in order to meet a manager’s personal goals


Moral Hazard

Moral Hazard describes situations in which an employee prefers to exert less effort (or report distorted information) compared with the effort (or accurate information) desired by the owner because the employee’s effort (or the validity of the reported information) cannot be accurately monitored and enforced


Intensity of Incentives

Intensity of Incentives – how large the incentive component of a manager’s compensation is relative to their salary component


Preferred Performance Measures

Preferred Performance Measures are those that are sensitive to or change significantly with the manager’s performance

They do not change much with changes in factors that are beyond the manager’s control

They motivate the manager as well as limit the manager’s exposure to risk, reducing the cost of providing incentives

May include Benchmarking


Performance Measures at the Individual Activity Level Two issues when evaluating performance at

the individual activity level:1. Designing performance measures for

activities that require multiple tasks2. Designing performance measures for

activities done in teams


Compensation for Multiple Tasks

If the employer wants an employee to focus on multiple tasks of a job, then the employer must measure and compensate performance on each of those tasks


Team-Based Compensation

Companies use teams extensively for problem solving

Teams achieve better results than individual employees acting alone

Companies must reward individuals on a team based on team performance


Executive Compensation Plans Based on both financial and nonfinancial

performance measures, and include a mix of: Base Salary Annual Incentives, such as cash bonuses Long-Run Incentives, such as stock options

Well-designed plans use a compensation mix that balances risk (the effect of uncontrollable factors on the performance measure, and hence compensation) with short-run and long-run incentives to achieve the firm’s goals


Strategy and Levers of Control Levers of Control:

Diagnostic Control Systems Boundary Systems Belief Systems Interactive Control Systems

Each lever is important and needs to be monitored Levers should be interdependent and collectively

represent a living system of business conduct


Diagnostic Control Systems Diagnostic Control Systems evaluate whether a firm

is performing to expectations by monitoring and evaluating critical performance metrics, including: ROI, RI, EVA Customer Satisfaction Employee Satisfaction

MUST be balanced by the other lever of control


Boundary Systems

Boundary Systems describe standards of behavior and codes of conduct expected of all employees Highlights actions that are “off-limits” A code of conduct describes appropriate and

inappropriate individual behaviors


Belief Systems

Belief Systems articulate the mission, purpose, and core values of a company

They describe the accepted norms and patterns of behavior expected of all managers and employees with respect to each other, shareholders, customers, and communities


Interactive Control Systems

Interactive Control Systems are formal information systems that managers use to focus organizational attention and learning on key strategic issues

Tracks strategic uncertainties that businesses face

Cost12eppt 23 Tr

Documents

Transcript of Cost12eppt 23 Tr