Implications and Discussion of Findings: Balanced Scorecard

Running head: MANAGERIAL ACCOUNTING
Managerial Accounting
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1MANAGERIAL ACCOUNTING
Table of Contents
Implications and discussion of findings: Balanced scorecard.........................................................2
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2MANAGERIAL ACCOUNTING
Implications and discussion of findings: Balanced scorecard
Balanced scorecard could be defined as a performance metric, which is utilised in
strategic management for detecting and enhancing different internal business functions and their
resulting external outcomes. More specifically, it is used for gauging and providing feedback to
the business organisations (Antonsen, 2014). In balanced scorecard, information is accumulated
and analysed from four business aspects, which are described as follows:
Learning and growth:
This is analysed by investigating training and knowledge resources. It manages the
effectiveness of capturing information and the efficiency of the staffs in using information for
converting the same to a competitive edge over the sector (Hoque, 2014).
Internal business processes:
These processes are analysed by examining the efficiency of the manufacturing process
of an organisation. Operational management is assessed for identifying delays, shortages,
bottlenecks, gaps, waste and shortages.
Customers:
The customer perspectives are obtained for measuring customer satisfaction with price,
quality and product or service availability (Busco & Quattrone, 2015). The customers provide
feedback regarding their satisfaction with the existing products.
Financial data:
Financial data like expenses, sales and income are utilised for gaining an overview of
financial performance. Such financial metrics might constitute of dollar values, budget variances,
income targets or financial ratios (Cooper, Ezzamel & Qu, 2017).
Strategic objectives of BAT in balanced scorecard: