Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
A college currently measures its performance by comparing the actual costs against its budgeted costs for the year.Now that the college is facing increased competition from Various colleges and private education providers, Deptt. professors has suggested that it needs to consider additional performance which measures such as those indicated by the Balanced Scorecard.
Explain the concepts of the Balanced Scorecard and how this approach to performance measurement could be used by the college.
The main concepts of the Balanced Scorecard is that
An organisation’s performance should not be measured on the basis of its financial results only.Other key performance indicators are improtantly relevant to an organisation’s success. The balanced scorecard typically identifies Quadrants groups (or four) of performance indicator that would be suitable for most organisations, though each organisation is free to determine the performance indicators that are most relevant to its own needs. The typical quadrants are: customer perspective; internal business perspective; innovation and learning perspective; and financial perspective. Many people believe that success in the non-financial performance measures will lead to success in the financial performance measures so that these other measures are leading measures whereas the financial measures are lagging measures. The college could use the balanced scorecard to measure its success in other areas of its business. It is important for service businesses such as colleges to understand the wants of its customers and thus measures connected with the customer perspective are important. The college may discover that particular types of courses are demanded by their customers and this may lead the college to develop new courses which can be measured using the innovation and learning perspective. The college can also look at how it operates its processes both in relation to its staff and its customers. Improvements in these processes could be used to improve the financial results, perhaps, because costs savings can be made.
Tyler's Consulting Company has purchased a new $15,000 copier. This overhead cost will be shared by the purchasing, accounting, and information technology departments since those a
The following facts have been extracted from the standard cost card for product X:
Wayne Company's beginning and ending inventories for the month of June were as follows: June 1 June 30 Work in progress $145,000 171,000 Finished Goods 85,000 78,000 Production
concepts of accounting
Sleep Corporation was organized on January 1, 2011. During its first year, the corporation issued 40,000 shares of $5 par value preferred stock and 400,000 shares of $1 par value c
Implementation of Re-Apportionment of Overheads The re-apportionment of service department costs may be implemented in a number of methods. The Two extremes are as a) Wh
Total fixed cost at different level of production
Kaplan Computers manufactures high end computer systems for the graphics design industry. At the present time, the company makes three computers with the following characteristics
Using the chosen company from Bursa Malaysia, prepare a consolidated accounts assuming that the chosen company acquire Sure Cargo Behard at 80% of its ordinary shares. Given bel
By understanding the financial statements of a company, one of the first steps considered is the study of the changes in current financial position of the company and the purpose f
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd