HA2011 Managerial Accounting: Balanced Scorecard Implementation in BGC Pty. Limited

HA2011 Managerial Accounting
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Table of Contents
Introduction......................................................................................................................................3
a) Overview of BGC Pty. Limited...............................................................................................4
b) A description of the BSC and its features...............................................................................4
c) In what ways BSC is different from traditional performance measurement systems.............7
d) Suitability of BSC for BGC Pty limited..................................................................................8
Reference.......................................................................................................................................11
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Introduction
In the company, there is the need to measure the performance in an effective manner so that
further improvements can be initiated. In the given report an understanding of the balanced
scorecard will be obtained. All this will be carried in context of BGC PTY limited. The first part
of the report will be providing a brief overview of the company so that information in relation to
it is collected. Then the technique known as balanced scorecard will be used and the same will be
explained in detail. There was a traditional performance measurement system which was
followed and so the manner in which the balanced scorecard is different from it will also be
described. Lastly, the evaluation will be made in respect of the suitability of the provided
approach in the company that is selected so that required results can be achieved by the proper
implementation of the approach.
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a) Overview of BGC Pty. Limited
BGC is the company which was established in 1970’s in Australia. It is dealing in the
construction business and is providing all the material and services related to the building. The
construction is performed in respect of the commercial and residential buildings. It also deals
with the manufacturing of building products, civil engineering construction, contract mining,
insurance, road transportation ownership and management of the property. In the current period,
it is one of the largest construction and mining contractor. The main offices from which the
company is carrying out its operations include Brisbane, Perth, Sydney, and Whyalla together
with some of the branches which are established in regional areas (BGC, 2014). There are
various businesses which are performed under this and by that all the areas are covered. The
company is in good financial position and this will be making it be successful and survive in the
market for long. The company is having a skilled team which is efficient enough to handle all the
projects in an appropriate manner and by that all the deliveries which are due with the company
are made on time. The company is following a business management system by which all the
processes are managed in the business and also the attention is provided to all the health and
safety issues (BGC, 2014). Quality assurance is made possible by the use of the resources
available.
b) A description of the BSC and its features
In the company, there are various levels at which operations are to be performed and it is
required that all the strategies in this respect shall be implemented and managed in the most
appropriate manner. For this balanced scorecard will be used as this provides the framework for
the same. By this, the overview of the performance of the company will be obtained. In this
various elements of the business are integrated with each other so that they can be performed in a
combined manner. In this, there are various objectives which are set and they are related to the
strategy (Bhattacharya, et. al., 2014). In the company, it will be possible to develop the balance
in between all the activities which are performed and for that all the financial, as well as non-
financial aspects, will be taken into account. In this approach, four perspectives will be involved
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