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11 Cards in this Set
- Front
- Back
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1) Poor product design resulting in excess costs |
Analysis of warranty and repair costs, Accounting analysis of costs arising from product design choices |
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2) Over and under production |
Production planning systems, review and approval of of schedules and orders, restriction of access to controls |
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3) Theft of inventory |
Physical access control, documentation of all inventory movement, segregation of duties, restriction of access to inventory master data, physical counts |
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3) theft of fixed asset |
inventory of all assets, restriction of physical access to fixed assets, detailed records including disposal of assets |
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3) poor performance |
training, performance reports |
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3) suboptimal investment |
proper approval of fixed asset requisitions, included requests for use of equipment |
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3) loss of inventory due to disasters |
physical safeguards, insurance, |
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3) disruption of operations |
backup and disaster recovery plans |
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4) inaccurate cost data |
source data automation, data processing integrity controls |
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4) inappropriate allocation of overhead costs |
time driven activity based costing |
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4) misleading reports |
innovative performance metrics |
