Indicators to Be Employed By Grant Donor Assignment - 1

Indicators to Be Employed By Grant Donor - Assignment Example Indicators of customer satisfaction include fast sale, increase in demand and receive new orders. Every business project is profit oriented and returns on capital employed stand as the main goal. That is why I consider that Finance perspective should focus on the cost control to ensure that in the long run income is more than the input. In a business process, the steps of what to do are provided to ensure that the end goal of profit making is achieved. It works with a target of minimizing cost so as to maximize returns. The ways of cost minimizing are wage cutting, reduction of advertising cost and reduction of employees. This is the level of deployment of the best practices an organization has defined for its Project Management process (Galliers & Leidner 2003). A lot of collaborative tools have to be designed in order to reach the recommended standard of Capability Maturity Model Integrated, a best practice framework for businesses dedicated to product development (Galliers & Leidner 2003). This part work with a clear set framework that covers areas like objectives, measures, target, and initiative. This gives everyone in the system a guide on what to do and the target goal is always indicated. For this case of study, I can bring out the best framework of a balanced scorecard as below. A balanced scorecard is used to evaluate the performance and future improvements of an organization. "Scorecard" signifies quantified performance measures in the process, financial performance, internal process, customers and learning, and growth. Balanced is an indicator showing if the system is balanced between short-term objectives and long-term objectives, financial measures and non-financial measures lagging indicators and leading indicators and internal performance and external performance perspectives (Goodpasture 2010).

Compare two finacial statmetns Essay Example | Topics and Well Written Essays - 1000 words

Compare two finacial statmetns - Essay Example The BP financial statements reflect the FIFO methodology, which is first-in, first out when considering recognition of inventories. The first-in cost is represented by the cost of inventory at the start of the fiscal year and then a transfer to the cost of goods sold represent the oldest costs incurred, based on the volume of inventories sold, leaving the most recent costs of inventoried merchandise that was purchased or produced in-house. BP did not have to choose the FIFO method, they could have selected from a weighted average option, which â€Å"calculates the average cost of the items in the beginning inventory plus purchases made throughout the year† (McManus et al, 155). Under this option, the average is calculated in order to derive a cost of goods sold figure and the value associated with ending inventory at the end of the fiscal year. BP could have also chosen the LIFO method, which is last in, first out. The calculations show more recent merchandise costs as cost of goods sold after the items have been sold with the on hand inventory at the end of the year costed to the oldest costs associated with the inventories. Stakeholder-orienting reporting standards are issued by the SEC, the Securities and Exchange Commission. The purpose of filing these financial reports to the SEC are to â€Å"provide investors a full and fair disclosure of the securities being issued and the issuer’s business activities and financial position† (Marshal, McManus & Viele, 385). The basic premise of SEC guidelines ensures that the information being presented in the financial reports is congruent to the actual business activities of the organization and is an accurate representation of real-life financial status for the company. This organization acts as a monitoring agency to ensure that companies are not inflating earnings or