CellMart例子

CellMart在兩個城市銷售手機。張三是公司CEO，管理著上海經(jīng)理李四和北京經(jīng)理王五。定價是很重要的一項權(quán)力。張三是應(yīng)該決定價格還是放權(quán)給其下屬？如果放權(quán)，張三可以（1）讓各個地區(qū)的經(jīng)理自行制定該地區(qū)的價格，（2）讓其中一位經(jīng)理制定兩地的價格，（3）讓兩個經(jīng)理組成團隊來決定兩地的價格。

Cost,Profit,andInvestmentsCenters

CostCenter

ProfitCenter

InvestmentCenter

Cost,profit,andinvestmentcentersareallknownasresponsibility

ResponsibilityCenter

centers. 4

ResponsibilityCenters

InvestmentCenters

SuperiorFoodsCorporationCorporateHeadquartersPresidentandCEO

OperationsVicePresident

Finance

ChiefFInancialOfficer

LegalGeneralCounsel

PersonnelVicePresident

SaltySnacksProductManger

BottlingPlantManager

BeveragesProductManager

WarehouseManager

ConfectionsProductManager

DistributionManager

CostCenters

ProfitCenters 5

DecentralizationandSegmentReporting

AnIndividualStore

QuickMart

Asegmentisanypartoractivityofanorganizationaboutwhichamanagerseekscost,revenue,orprofitdata.Asegmentcanbe...

ASalesTerritory

AServiceCenter

SuperiorFoodsCorporation

$500,000,000

East

$75,000,000

West

$300,000,000

Midwest

$55,000,000

South

$70,000,000

Oregon

$45,000,000

Washington

$50,000,000

California

$120,000,000

MountainStates

$85,000,000

SuperiorFoods:GeographicRegions

SuperiorFoodsCorporationcouldsegmentitsbusinessbygeographicregions.

SuperiorFoodsCorporation

$500,000,000

ConvenienceStores

$80,000,000

SupermarketChains

$280,000,000

WholesaleDistributors

$100,000,000

Drugstores

$40,000,000

SupermarketChainA

$85,000,000

SupermarketChainB

$65,000,000

SupermarketChainC

$90,000,000

SupermarketChainD

$40,000,000

SuperiorFoods:CustomerChannel

SuperiorFoodsCorporationcouldsegmentitsbusinessbycustomerchannel.

KeystoSegmentedIncomeStatements

Acontributionformatshouldbeusedbecauseitseparatesfixedfromvariablecostsanditenablesthecalculationofacontributionmargin.

Traceablefixedcostsshouldbeseparatedfromcommonfixedcoststoenablethecalculationofasegmentmargin.

TraceableandCommonCosts

Fixed

Costs Don’tallocate

commoncosts.

Common

Costsarisebecauseoftheexistenceof

aparticularsegment

Acostthatsupportsmorethanonesegmentbutthatwouldnotgoawayifanyparticularsegmentwereeliminated.

IdentifyingTraceableFixedCosts

Traceablecostswoulddisappearovertimeifthesegmentitselfdisappeared.

Nocomputerdivisionmeans...

Nocomputerdivisionmanager.

IdentifyingCommonFixedCosts

Commoncostsarisebecauseofoveralloperationofthecompanyandarenotduetotheexistenceofaparticularsegment.

Nocomputerdivisionbut...

Westillhaveacompanypresident.

Webber,Inc.hastwodivisions.

Let’slookmorecloselyattheTelevisionDivision’sincomestatement.

Webber,Inc.

TelevisionDivision

ComputerDivision

Costofgoodssoldconsistsofvariablemanufacturingcosts.

IncomeStatementContributionMarginFormatTelevisionDivision

Sales $300,000

Fixedandvariablecostsarelistedinseparatesections1.4

VariableCOGS 120,000Othervariablecosts30,000Totalvariablecosts150,000Contributionmargin150,000Traceablefixedcosts90,000Divisionmargin $60,000

IncomeStatement

Company

Television

Computer

Sales

$500,000

$300,000

$200,000

Variablecosts

230,000

150,000

80,000

CM

270,000

150,000

120,000

TraceableFC

170,000

90,000

80,000

Divisionmargin

100,000

$ 60,000

$ 40,000

Commoncosts

25,000

Commoncostsshouldnotbeallocatedtothedivisions.Thesecostswouldremainevenifoneofthedivisionswereeliminated.

15

Netoperating

income

$ 75,000

Fixedcoststhataretraceableononesegmentedstatementcanbecomecommon

ifthecompanyisdividedintosmallersegments.

Let’sseehowthisworks!

16

Webber’sTelevisionDivision

Television

Division

Product

Lines

ForeignSales

U.S.Sales

BigScreen

ForeignSales

U.S.Sales

Regular

Sales

Territories 17

TraceableCostsCanBecomeCommonCosts

Television

Division

Regular

BigScreen

Sales

$ 300,000

$ 200,000

$ 100,000

Variable

costs

150,000

95,000

55,000

CM

150,000

105,000

45,000

TraceableFC

80,000

45,000

35,000

Productlinemargin

70,000

$ 60,000

$ 10,000

OmissionofCosts

Costsassignedtoasegmentshouldincludeallcostsattributabletothatsegmentfrom

thecompany’sentirevaluechain.

BusinessFunctionsMakingUpTheValueChain

CustomerService

Distribution

Marketing

Manufacturing

ProductDesign

R&D

HindrancestoProperCostAssignment

TheProblems

Omissionofsomecostsintheassignmentprocess.

Assignmentofcoststosegmentsthatarereallycommoncostsoftheentireorganization.

Theuseofinappropriatemethodsforallocatingcostsamongsegments.

AllocationsofCommonCosts

IncomeStatement

Haglund's

Lakeshore

Bar

Restaurant

Sales

$800,000

$100,000

$700,000

Variablecosts

310,000

60,000

250,000

CM

490,000

40,000

450,000

TraceableFC

246,000

26,000

220,000

Segmentmargin

244,000

$ 14,000

$230,000

Commoncosts

200,000

Profit

$ 44,000

AllocationsofCommonCosts

Supposesquarefeetisusedasthebasisforallocatingthecommonfixedcostof$200,000.Thebaroccupies1,000squarefeetandtherestauranthas9,000squarefeet

IncomeStatementHaglund's

Lakeshore

Bar

Restaurant

Sales

$ 800,000

$ 100,000

$ 700,000

Variablecosts

310,000

60,000

250,000

CM

490,000

40,000

450,000

TraceableFC

246,000

26,000

220,000

Segmentmargin

244,000

14,000

230,000

Commoncosts

200,000

25,000

175,000

Profit

$ 44,000

$ (11,000)

$ 55,000

Whoops,whataboutthebar??? 23

Incomebeforeinterestandtaxes(EBIT)

24

Cash,accountsreceivable,inventory,plantandequipment,andotherproductiveassets.

ROI= NetoperatingincomeAverageoperatingassets

ROI= Netoperatingincome

Averageoperatingassets

Margin=Netoperatingincome

Sales

Turnover= Sales

Averageoperatingassets

ROI=Margin·Turnover

25

RegalCompanyreportsthefollowing:

Netoperatingincome

$ 30,000

Averageoperatingassets

$200,000

Sales

$500,000

ROI=Margin·Turnover

ROI= Netoperatingincome

Sales

× Sales

Averageoperatingassets

ROI= $30,000

$500,000

×$500,000

$200,000

ROI=6%·2.5=15%

CriticismsofROI

Intheabsenceofthebalancedscorecard,managementmaynotknowhowtoincreaseROI.

Managersofteninheritmanycommittedcostsoverwhichtheyhavenocontrol.

ManagersevaluatedonROImayrejectprofitableinvestmentopportunities.

Residual

income

=

Net

operatingincome

-

(

Average

Minimum

operating

·

requiredrateof

assets

return

)

Residualincomemeasuresnetoperatingincomeearnedlesstheminimumrequiredreturnonaverageoperatingassets.

AdivisionofZepher,Inc.hasaverageoperatingassetsof$100,000andisrequiredtoearnareturnof20%ontheseassets.

Inthecurrentperiodthedivisionearns

$30,000.

Let’scalculateresidualincome.

Operatingassets

$100,000

Requiredrateofreturn

×

20%

Requiredincome

$ 20,000

Actualincome

$ 30,000

Requiredincome

(20,000)

Residualincome

$ 10,000

Operatingassets

$100,000

Requiredrateofreturn

×

20%

Requiredincome

$ 20,000

Actualincome

$ 30,000

Requiredincome

(20,000)

Residualincome

$ 10,000

AdvantagesofResidualIncome

ProjectI

Residualincome=$1,300,000-(0.10·$10,000,000)

=$1,300,000-$1,000,000

=$300,000

ProjectII

Residualincome =$640,000-(0.10·$4,000,000)

=$640,000-$400,000

=$240,000

AdvantagesofResidualIncome(continued)

Add Add AddBoth MaintainProjectI ProjectII Projects StatusQuo

Operatingassets $60,000,000 $54,000,000 $64,000,000 $50,000,000Operatingincome $8,800,000 $8,140,000 $9,440,000 $7,500,000

Minimumreturn* 6,000,000 5,400,000 6,400,000 5,000,000

Residualincome $2,800,000 $2,740,000 $3,040,000 $2,500,000

*0.10Operatingassets.

Preferred

alternative

MotivationandResidualIncome

ResidualincomeencouragesmanagerstomakeprofitableinvestmentsthatwouldberejectedbymanagersusingROI.

DivisionalComparisonsandResidualIncome

Operatingassets

Requiredrateofreturn×Minimumrequiredreturn

Retail

Wholesale

$100,000

20%

$1,000,000

20%

$ 20,000

$ 200,000

Retail

Wholesale

Actualincome

$ 30,000

$ 220,000

Minimumrequiredreturn

(20,000)

(200,000)

Residualincome

$ 10,000

$ 20,000

Zepher,Inc

Retail

Wholesale

Operatingassets

$100,000

$1,000,000

Requiredrateofreturn×

20%

20%

Minimumrequiredreturn

$ 20,000

$ 200,000

Retail

Wholesale

Actualincome

$ 30,000

$ 220,000

Minimumrequiredreturn

(20,000)

(200,000)

Residualincome

$ 10,000

$ 20,000

38

EconomicValueAdded(EVA)

EVAisabusinessunit’sincomeaftertaxandafterdeductingthecostofcapital.

ItissimilartoRI;usesthefirm’scostofcapitalinsteadofaminimumrateofreturn.

Differenttreatmentsonsomeaccountingitems

MeasuringthePerformanceofInvestmentCenters

Economicvalueadded(EVA)isafter-taxoperatingprofitminusthetotalannualcostofcapital.

EVA =

After-taxoperatingincome

Weightedaveragecostof

- capital·Totalcapital

employed

OrderReceived

ProductionStarted

GoodsShipped

WaitTime

ProcessTime+InspectionTime

+MoveTime+QueueTime

ThroughputTime

DeliveryCycleTime

Processtimeistheonlyvalue-addedtime.

OrderReceived

ProductionStarted

GoodsShipped

WaitTime

ProcessTime+InspectionTime

+MoveTime+QueueTimeThroughputTime

DeliveryCycleTime

KeyConceptsonTransferPrices

Atransferpriceisthepricechargedwhenonesegmentofacompanyprovidesgoodsorservicestoanothersegmentofthecompany.

Thefundamentalobjectiveinsettingtransferpricesistomotivatemanagerstoactinthebestinterestsoftheoverallcompany.

ThreePrimaryApproaches

Therearethreeprimaryapproachestosetting

transferprices:

Negotiatedtransferprices

Transfersatthecosttothesellingdivision

Transfersatmarketprice

Cost-BasedTransferPrices

Whennoreliablemarketpriceisavailable.

Costplusamark-up.

VariableCost+mark-up

Fullcost+mark-up

Ifbasedonactualcost,littleincentivet