Driver Metrics: The GQAM Model

Measuring performance helps an organization to know the different areas which helps to assess factors where the business is strong or weak to better improve it. That is why it is highly important for businesses to measure what it is doing to implement its health and safety plan to assess how effectively it is controlling risks, and how well it is developing a positive safety and health culture. This is particularly true in an organisation where there is a low probability of accidents, but where major hazards are present.

The Abacus Inc., a software company with headquarters in Toronto, ON., is launching a new e-commerce site of the company, which will replace the existing e-commerce, in order to offer its products online. This project is time-sensitive but the budget is not a major issue.

Edmonds, T. P., Tsay, B., & Olds, P. R. (2011). Fundamental managerial accounting concepts (6th ed.). New York, NY: McGraw-Hill

Any company or organizations need to analyze how its financial resources get used every time. The primary aim for this is to ensure accountability and maximum utilization of the resources available. From my calculations General Hospital is doing well in some sectors while it is performing poorly in others. For example the recommended SSP standards of accounts receivable recommends that it should be below than 46.2.The hospitals collections per years do not match up to their projected figures and thus they should cut down on expenses. The ratio of current assets to liabilities is favorable and up to the standards set. The hospital would not be able to operate if it runs out of funds in the account receivables as the cash on hand value is less than the recommended (Delen, 2013). It could only last for a period of 17 days before its cash reserves run out.

After researching the metric system uses in the medical field, I found quite a few uses just used in the billing and coding field. It is used for cost, production to reduce supply and labor costs, clinical performance, such as quality of patient care, also called “patient outcome” data.

Ultimately, the use of metrics will enhance our organizations operational effectiveness and allow for a modernized approach to resource allocation and greater accountability and transparency to the community we serve.

The company’s total operating expenses continuously raised from 2003-2007 with a considerable fall of 16.33% in 2005 the reason being theas the loans payable rapid growth of Internet-Sales as the company had their own website for online ordering which reduced the company’s wages, amortization, vehicle and miscellaneous expenses. In 2003 the cost of Total Operating expenses was 32.50% of the net-sales which was decreased by 5.24% in 2007 net-sales.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0ahUKEwioi_C6q7vSAhUIxoMKHcPBDpUQFggcMAE&url=https%3A%2F%2Fycharts.com%2Fglossary%2Fterms%2Fcash_ratio&usg=AFQjCNGlNOT31RFRLjPt-g2GOmIHIAhoBw&sig2=Oio6RuEGWBeWlcg0prXA8gIt is essential to complete an internal financial ratio analysis of StilSim. The analysis will evaluate the performance of StilSim and compare it to a competitor. The competitor that will be used in this analysis is StaffAces. A financial ratio analysis is a technique for measuring the performance of an organization according to the organization’s balance sheet, income statement, and market value (Dess, McNamara, & Eisner, 2016, p. 97). To complete an analysis of the financial performance of an organization

They are used to identify their financial figures of how large or little they are and find out the cause of these figures. A flexible budget is a budget that changes in the volume of how an activity is doing. The flexible budget is more beneficial than a static budget and then this type of analysis is used within the figures of an organisation, create targets for their employees and allows management to change the effect of their standard if they are seen as a financial risk that will put the company down. (Tutor notes, Accessed on

This is the process of knowing the production capacity an organization needs to meet the changing demands for the products. It helps to determine the quantity of the product needed by a firm to meet the demands of its customers.

Setting measureables/ performance indicators and deliverables for each of the activities in the project, and then gauging how far have they been

In terms of controlling, the management of Marks and Spencer has frequent reporting of expenditures with costs to provide a form of feedback. The reactions of managers to such type of data rely on the expectations or the formal budget or planned targets. The management believes in collecting and assigning cost data that is being shifted away from control. There is a recognition related to the repetitive exercise of planning and re-planning for creating a full time job for accountants. The assessment and evaluation of cost data in the aspects of launching new product by Marks and Spencer is about gaining insights and learning ways for achieving the goals of organisation in most effective manner. The management of the organisation has been assisting

(P1.3) Once the business strategy is formed, there are different techniques in developing the strategic plans of the business using various tools by the organization. These techniques show the strengths and weaknesses of the organization and as well as their opportunities and threats that are possible to the business in order to form an effective developed strategic plan during the process of operation. In this case, Nordstrom uses these types of tool in developing their strategic plans which are the BCG matrix and SOAR analysis.

Here in this assignment a management accounting report needs to be prepared for analyzing how management accounting can be useful in providing the managerial information for the purpose of decision making. The organization selected to make this analysis is Southwest Airline. It is a management accounting report in which starting from the background of the company, the management accounting system of the company has been analyzed and how its’ providing the information for the purpose of management decisions being evaluated.

Many people associate the word budget primarily with limitations on spending. For example, management often gives each unit in an organization a spending budget and then expects them to slay within the limits prescribed by the budget. However, budgeting can play a much more important role than simply limiting spending. Budgeting moves planning to the forefront of the manager's mind. Well-managed organizations make budgeting an integral part of the formulation and execution of their strategy. In Chapter I. we defined a budget as a quantitative expression of a plan of action. Sometimes plans are informal, perhaps even unwritten, and informal plans sometimes work