EXAMPLE: SUPERANNUATION
The following is a one page annual summary for a superannuation plan: an internal management report. Key features are:
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Balanced scorecard approach
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Forecasts "grow" out of actual data.
The independent accountants indicate that the forecasts exceed historical growth rates, in the report to the Trustees.
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Source of Information: |
Accounting records of ABC Superannuation Fund |
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Major Assumptions in Forecasts: |
(1) Membership growth continuing at 23% pa. |
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(2) Income growth rising from 16% pa to 28% pa. |
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(3) Cashflow growth to 27% pa |
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(4) Net tangible assets of plan increasing at 29% pa |
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Check on Forecasts: |
Independent accountants, Ace & Ace, have reviewed the forecasts with historical data for the Plan for 1993-96 on file, and point out that the forecast growth rates shown exceed historical actual growth rates, which would indicate growth rates of around 20% per annum for the 5 years 1997-2001. |
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Responsibility for Forecasts: |
Superannuation Plan Trustees. |
