Advantages and Critique of Balanced Scorecard in Management Accounting

This report discusses the suitability of adopting balanced scorecard in a company, its advantages, and critique. It also includes the translation of vision and strategy through four perspectives of balanced scorecard. Despite the significant problems associated with time lag and non-consideration of technological aspects, with continuous monitoring and updating of performance objectives, the implication of balanced scorecard will prove to be fruitful in the long-term.