>> Managerial Accounting
You are asked to prepare a Balanced Scorecard using either Option 1, 2 or 3.In doing this Balanced Scorecard you are required to provide for each of the Four Perspectives of the Balanced Scorecard at least One Objective,and two Performance Indicators. You are required to provide a justification for each of the performance Indicators selected and explain how this will improve the performance of the organisation you are examining in the option chosen.
Note:This assignment must be fully referenced in accordance with the Unit Outline for ACC202
Length : 1500 words
You have the option of selecting Option 1, Option 2 or Option 3 for this assignment.
A Tourism operator which carries out tours for domestic and international tourists within New South Wales .In the last financial year it achieved revenue of $ 5,000,000 and operating profit of $350,000.
and it had 8% market share.
A mechanical equipment company which manufactures and imports mechanical equipment for use by farmers within Australia.In the last financial year the company made sales of $15,000,000 and profit of $800,000 .It had a market share of 18% of the market .
A small charity which carries out fundraising activities and makes collections from people by phone and over the internet as well as an annual doorknock appeal.Last financial year it achieved revenues of $1,500,000 and distributed $700,000 to sick children through the charity. The revenues had increased by 10% from the previous year however the charity has found it very difficult to achieve its
revenue targets when the economy is going badly.
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Concept of Balance Scorecard:
The concept was introduced in the early 1990s by Robert Kaplan and David Norton. The key problem noticed in the business was that companies manage their business based solely on financial measures. Though financial measures are necessary, but at the same time, today business moves at a very fast pace and requires more comprehensive measures. Hence, the concept was developed.
Balance scorecard should be used to assess the performance measurement. It is being considered as the strategic tool for performance measurement. The various methods are designed and automated tools are used by the managers in order to keep the track of activities taken up by the executives and thus various actions are taken up by the managers in order to monitor the consequences. The balance scorecard provides various information on the vision and mission of the company.