Pass the WorldatWork Certified Compensation Professional CCP C8 Questions and answers with CertsForce

To differentiate company financial data from industry competitors to prevent loss of proprietary information

To provide subjective information to key constituents that reflects the company’s performance in the most favorable manner depending on stakeholder priorities

To create a historical record of financial performance and identify trends that may justify changes in strategy

To promote consistency of communication regarding company performance and value

March 1st

March 31st

April 5th

April 8th

They aren’t. Managers are concerned about their compensation also.

They are also responsible for merit increases, incentives and hiring so they have greater information needs.

They tend to have more influence, so it is important to resolve any concerns they have quickly and efficiently.

They have more duties and responsibilities and are less likely to have the time to discuss compensation issues.

It is a precise estimate of what the future holds for the organization.

It is done primarily by using historical revenue and expense data.

It is done primarily by evaluating market conditions and economic indicators.

It uses internal and external factors to help answer questions about business expectations for the future.

By using cash from other segments of the business

By using its high credit rating from prior years to receive a line of credit until the strategy begins to work

By selling its products and services at a loss until revenue increases and slowly raising prices until it begins to break even

By identifying and duplicating the strategy used by its main competitor.

Investors and Finance want to see money spent wisely. Legal must ensure compliance, and HR and operating departments want to see their needs taken into account to attract, retain and motivate a high quality workforce.

Operating departments and HR understand the company must live within its means and Finance cannot allocate funds to a budget if it is likely that profitability will be adversely affected.

Investors want to maximize gains and want to see compensation tightly controlled and Legal needs to ensure that compensation plans do not attract undue scrutiny.

Operating departments view compensation as it applies to them, HR must balance available resources to attract, retain and motivate employees and Finance knows the value of a motivated workforce and will provide the budget necessary to achieve it.

The balance sheet

The income statement

The cash flow statement and the income statement

The cash flow statement, along with the balance sheet and income statement

Financial Management

HR Management

Resource Management

Policy Management

Procurement

Recruiting

Setting priorities

Plan administration

Mission

Vision

Values

Strategy