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Essay / Research Paper Abstract
This 5 page paper looks at the way in which the cost accounting for a new department may be set up along with the options for the way performance, profit and value may be measured with the suggestion of a costing method that can be used alongside a balanced scorecard. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEnewonl.rtf
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Unformatted sample text from the term paper:
The bottom line is that the business, to survive, will need to be profitable, but many business have also indicated that there may, in some circumstances, be a potential benefit
in sustaining losses while the business sis set up, as seen with the case of Amazon.com, which took many years to become the profitable business it is today. To
access the performance of the business the first tools or measures will usually be financial, these will include measures such as the gross, operating and net profit margins which can
be used to assess overall performance and specific performance against other companies other ratios may also be valuable. However, not all measures are financial, but will impact on the overall
result, for example, successful business may find that they are able sell more goods to the same customers, reducing the level of marketing needed and increasing the level of sales.
This is a reflection of the company offering as well as the level of customer service. Therefore, an important measure is that
of customer satisfaction, this is not limited to the customer services, but the entire process, such as navigation around a web site, the ease of the purchase and the speed
of delivery as well as aspects such as the returns policy and the way contact is managed. These may be undertaken with the use of Likert scales or general percentages
measures and used to measure against past performance as well as the customers performance of the company compared to others. Where satisfaction levels are high there is likely to be
a return of custom and the making of recommendation as well as lower costly aspects of after sales service. Other measures may
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