Exam 12: Strategy and Control

Management control systems have one main role; to facilitate decisions by providing relevant and timely information to support decision making.

Ferdinand's view of the 'Flat World' involves moving back to embrace the best of the past features of management accounting.

Lean accounting initiatives are based on the belief that only a small fraction of the total time and effort in an organisation actually adds value for the end customer.

Which of these is an informal control mechanism as opposed to a formal mechanism?

A future direction which enables the focusing of an organisation's resources and decision making around a common theme, is a definition of:

Good internal control systems should aim to eliminate risk.

Which of these is not a financial performance measure?

A Ferdinand's 'flattner' in his discussion of 'flat world' theory is:

Which of these are is not included within the scope of current management accounting?

The value-based management (VBM) technique was proposed by Kaplan and Norton.

The author of many works that attempt to define strategy is:

Under the Kaplan and Norton strategy map framework preparing budgets comes under which stage?

Which of these is not one of the key questions in Otley's performance management systems framework?

Under the Ittner and Larcker management framework which of these is not a limitation of using Economic Value Added (EVA) as a measure of value added by management?

A broad view of management control might encompass which of the following?

In management accounting, designing and managing global networks, controlling them through techniques such as empowerment and creating value through integration is known as:

Porter classifies strategy into either cost leadership or product differentiation.

Which of these is a key influence on the nature of control systems in the Simons's 'levers of control' framework ?

Early writers on strategic management believed that better control would occur within an organisation if the management accounting function was more closely aligned to the financial accounting.

In Porter's competitive forces model which of the following is a decision influencing control tool rather than a decision facilitating control tool?