Balanced score card, Managerial Accounting

Assignment Help:

Balanced Score Card

This is a popular approach in current management thinking which consists of a variety of indicators both financial and non-financial. The balanced scorecard concentrates on four various perspectives:

Customer Perspective:

What do existing and latest customers value from us? This perspective gives rise to target which matter to customers e.g. cost, quality, delivery, inspection of goods, and handling of goods or customers.

Internal Perspective:
What processes should we excel at to attain our financial and customer objective? This perspective therefore aims at improving internal processes and decision making.

Innovation and learning:

Can we continue to enhance and produce future value? This perspective considers the business capacity to maintain its competitive position through the acquisition of new skills and development of new products. The organization must set targets which will emphasize continuous change in customer needs such as the percentage of sales derived from new products. Comparing with establish ones and the long-term investments undertaken.


Related Discussions:- Balanced score card

Explain the objectives of management accounting, Explain the Objectives of ...

Explain the Objectives of management accounting? 1. Planning and policy formulation: the object of management accounting is to supply necessary data to the management for fo

What is sunk cost, What is Sunk cost A cost has been incurred in the p...

What is Sunk cost A cost has been incurred in the past or sunk in the past and is not relevant to the particular decision making, is a sunk cost. If it is decided to replac

Carrying costs of inventory-relevant costs of eoq model, Carrying costs of ...

Carrying costs of inventory These are costs incurred because the firm has decided to maintain inventories. They generally consist of: •    Stock-out costs •    Insurance co

HELP , ) Allgood Inc. has fixed costs of $480,000. It has a unit selling pr...

) Allgood Inc. has fixed costs of $480,000. It has a unit selling price of $6, unit variable cost of $4.50, and a target net income of $1,500,000. HOW TO COMPUTE

Strategies in working capital management, No further banks were the sole so...

No further banks were the sole source of funds for working capital requires of the business sector. At current more finance options are obtainable to a Finance Manager to allow smo

What is period cost, What is period cost Period costs are those costs w...

What is period cost Period costs are those costs which are reported as expanses of the period in question. These are cost which are not assigned to the product but are charged

Medical office accounting final project, John Doe, MD A Business Simulation...

John Doe, MD A Business Simulation This simulation covers the transactions completed by John Doe, MD, a medical service business, which began on July 1 of the current year. Dr. D

Explain the stock turnover ratio, Stock turnover ratio  Meaning: thi...

Stock turnover ratio  Meaning: this ratio establishes a relation ship between costs of goods sold and average inventory. Objective: the objective of component of this r

Operating leverage, How do you compare two companies operating leverage? Mu...

How do you compare two companies operating leverage? Must the sales volume be set the same or the net operating income?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd