Cost Accounting-A Managerial Emphasis【外文翻譯】

Cost Accounting-A Managerial Emphasis【外文翻譯】

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1、外文翻譯原文MaterialSource:CostAccounting-AManagerialEmphasisAuthor:CharlesT.Horngren、SrikantM.Datar和GeorgeFosterIntensityofIncentivesandfinancialandNonfinancialMeasurementsWhataffectstheintensityofincentives?Thatis,howlargeshouldtheincentivecomponentofamanager’scompensationberelativetothesalarycompo

2、nent?Toanswerthesequestions,weneedtounderstandhowmuchtheperformancemeasureisaffectedbyactionsthemanagertakestofurthertheowner’sobjectives.Weillustratethistrade-offinthecontextofourHospitalityInnsexample.SallyFondaownstheHospitalityInnschainofhotels.RogerBrettmanagestheHospitalityInnsSanFrancisc

3、o(HISF).AssumeFondausesRItomeasureperformance.ToimproveRI,FondawouldlikeBretttoincreasesales,controlcosts,providepromptandcourteouscustomerservice,andreduceworkingcapital.ButevenifBrettdidallthosethings,highRIisnotguaranteed.That’sbecauseHISF’sRIisaffectedbymanyfactorsbeyondFonda’sandBrett’scon

4、trol,suchasarecessionintheSanFranciscoeconomyoranearthquakethatmightnegativelyaffectHISF.Ortherecouldbeotheruncontrollablehotels,factors,suchasroadconstructionnearcomperingpositiveeffectonHISF’sRI.UncontrollablefactorsmakeHISF’sprofitabilityuncertainand,therefore,risky.Asanentrepreneur,Fondaexp

5、ectstobearrisk.ButBrettdoesnotlikebeingsubjecttorisk.Onewayof“insuring“BrettagainstriskistopayBrettaflatsalary,regardlessoftheactualamountofRIearned.AlltheriskwouldthenbebornebyFonda.Thisarrangementcreatesaproblem,however,becauseBrett’seffortisdifficulttomonitor.Theabsenceofperformance-basedcom

6、pensationmeansthatBretthasnodirectincentivetoworkharderortoundertakeextraphysicalandmentaleffortbeyondwhatisnecessarytoretainhisjoborupholdhisownpersonalvalues.So,theremustaskforpreferredperformancemeasures.Preferredperformancemeasuresarethosethataresensitivetoorthatchangesignificantlywiththema

7、nager’sperformance.Theydonotchangemuchwithchangesinfactorsthatarebeyondthemanager’scontrol.Sensitiveperformance4measuresmotivatethemanageraswellaslimitthemanager’sexposuretorisk,reducingthecostofprovidingincentives.Less-sensitivep

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