Question: Subject : Accounting Topic : Management Accounting practice in changing business environment & perfomance measurement system (PMS) B. Kaplan and Norton developed the Balanced Scorecard

Subject : Accounting Topic : Management Accounting practice in changing business environment & perfomance measurement system (PMS)

Subject : Accounting Topic : Management Accounting practice in changing business environment

B. Kaplan and Norton developed the Balanced Scorecard which is used to translate mission and strategy into objectives and measures, organized into four perspectives: financial, customer, internal business process and finally learning and growth. Required: Discuss three (3) usefulness of the Balanced Score card in assisting organizations to achieve improvement as compared with traditional method of performance measures. (6 marks) (Total: 15 marks)

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