Accounting ACCT 2620 Lecture Notes - Lecture 1: Institute For Operations Research And The Management Sciences, Balanced Scorecard
Document Summary
Managerial accounting: who needs the information and for what decision. Ex. decision to establish a new facility based on estimates of the costs of building and maintaining it. Motivating managers and employees towards the organization"s goal i. Measuring performance of subunits, activities, managers, and employees i. Ex. compensating executives in part on the basis of the profits achieved by the subunits they manage. Ex. the balanced scorecard is a model of business performance evaluation that balances measures of financial performance, internal operations, innovation and learning, and customer satisfaction. Information type: financial and nonfinancial measurements on processes, technologies, suppliers, customers, and competitors. Qualitative characteristics: historical, current, and future oriented, need based intervals, not subject to audit, could be more subjective.
