Introduction The purpose of this report is to assess the usefulness of the balanced scorecard (BSC) model within a business and strategic management accounting. To acquire such information‚ the model will be applied to a company and then critiqued giving both the benefits and any practical implications regarding the use of the BSC. The BSC was introduced by Kaplan and Norton (1992) as a new approach to strategic management accounting. ‘The purpose of the balanced scorecard is to guide‚ control and
Premium Balanced scorecard Strategic management
Accounting for Decision Making Study Notes Introduction to Accounting (Week One) Accounting is the process of identifying‚ measuring and communicating economic information (transactions) of a business to a variety of users for decision making purposes. Business transactions are an external exchange of something of value between 2 or more entities. They can reliably be measured and recorded and can affect the assets‚ liabilities and equity of a business/ organisation. Accounting information is
Premium Balance sheet
7/22/2013 ACCT 90004 Accounting for Decision Making Brad Potter Room 7.064‚ 198 Berkeley Street Tel: 8344 4989 bnpotter@unimelb.edu.au 1 1 7/22/2013 Subject Overview Introduction • This subject provides a broad introduction to the accounting process‚ accounting information systems and the language of accounting. • It is designed to enable you to become an informed preparer and user of accounting information. • Successfully completing this subject will also assist you
Premium Balance sheet
Imagine you were anywhere in the world‚ despite your location you would have access to at least one form of media; newspaper‚ television‚ telephone or the internet. Access to vast numbers of media has been made possible by our obsession with new technology. Communication is easier and we can experience outside of our immediate social surroundings. One electronic medium’s use has expanded at a remarkable rate‚ which is the internet. The internet has changed how we think as a society and how we communicate
Premium Internet Credit card History of the Internet
Decision Case 5-10 a). The CEO is mainly concerned with reporting the highest amount of income possible. Thus the CEO will be pleased if the company uses the FIFO method. This method recognizes as cost of goods sold the oldest costs‚ and because prices are rising‚ the costs charged to cost of goods sold will be less than if LIFO is used. b). It would be difficult to state absolutely which method is truly in the best interest of the stockholders‚ as FIFO results in lower COGS on the income report;
Free FIFO and LIFO accounting Inventory Revenue
Prior to the evolution of computer software and eventually to the creation of electronic spreadsheets‚ accountants relied heavily on manual calculations for financial reports‚ budgetary projections‚ incomplete records accounting ect. As Ballantine explains‚ “much valuable time had been spent on repetitive calculations [...] if one or more input values were altered and the entire worksheet had to be recalculated manually.” (1991‚ p.204). Today the same logic behind manual worksheets apply but with
Premium Spreadsheet
Australian Companies. Accounting and Business Research‚ 26(3)‚ 562- 683. FEE (1993). Environmental Accounting and Auditing: Survey of Current Activities and Developments. Bruxelles: The Fédération des Experts Comptables Européens. Fortes‚ H. (2002). The Need for environmental reporting by companies. Greener Management International (Winter)‚ 77-92. Freedman‚ M. and Jaggi‚ B. (1988). An Analysis of the association between pollution disclosure and economic performance. Accounting‚ Auditing and Accountability
Premium Financial statements Sustainability Environmental law
system is to collect‚ store and process data into information‚ through the assistance of a set of interrelated components. The processed information is later distributed to support decision making in an organisation (Oz‚ 2006). Information system can be decomposed to two main elemental subsystems namely as Accounting Information System (AIS) and Management Information System (MIS). AIS mainly process financial transactions of an organisation. However‚ it also processes some non-financial transactions
Premium Management Decision theory Enterprise resource planning
produced several different viewpoints on the utilization of torture and its effectiveness as a means to elicit information. A main argument has been supplied that torture is ineffective in its purpose to gather information from the victim. The usefulness of torture has been questioned because prisoners might use false information to elude their torturers‚ which has occurred in previous cases of torture. It has also been supposed that torture is necessary in order to use the information to save
Premium Torture Human rights World War II
The Usefulness of Standardized Tests When one is employed at a school‚ and starts noticing loads of confidential boxes being delivered‚ “Smarties” candies and “Smart Pencils” being distributed to students‚ and last but not least; witnessing that the stress of the school is rising…You know it’s testing time. This all happens at the beginning‚ middle‚ and end of the school year. Many tests take 1 to 2 days when others‚ have a duration of 2-3 weeks. As an employee of an elementary school‚
Premium Standardized test Education No Child Left Behind Act