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PDF Management Accounting - Solved Assignment

   

Added on  2021-06-14

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Management Accounting

Management Accounting 1ContentsIntroduction......................................................................................................................................2Description of your firm’s client.....................................................................................................3Mission and vision.......................................................................................................................3Strategies of the company............................................................................................................3Balance Scorecard and its features..................................................................................................4Balanced Scorecard.....................................................................................................................4Features of Balanced Scorecard...................................................................................................8BSC is different from traditional performance measurement systems............................................9BSC is suitable to your firm’s client..............................................................................................11Financial perspective.................................................................................................................11Customer perspective.................................................................................................................12Internal business perspective.....................................................................................................12Learning and growth perspective...............................................................................................13Conclusion.....................................................................................................................................15References......................................................................................................................................16

Management Accounting 2Introduction The ain of the report to analyze and evaluate that Balanced scorecard is suitable for the company or not. Being a graduate consultant in management consultancy it has been identified that one of the clients of firm recently evaluated the budgeting system. The firm that has been selected for the report is Hilton hotel. The CEO of the hotel currently attended a seminar related to the Balanced Scorecard in private companies. After conducting the seminar, company like to know whether BSC method is suitable for the company.Balanced scorecard method is one of the effective ways through which the company can measurethe four elements of BSC. These elements contribute in achieving the vision and strategy of the company. The strategies of the company change every year because the company makes the strategy to achieve the specific goals every five years. Moreover, these goals contribute to achieving the vision of the company. Therefore, the company wants to analyze that this modern approach will suit the current strategies of the company or not.

Management Accounting 3Description of your firm’s clientHilton hotel is one of the important clients for the company as the company is well known in the market for its hotels and resorts. The company was founded in the year 1919 by Conrad Hilton along with the aim to achieve the lodgings facilities in the country. The company is able to manage its processes in more than 92 countries across the world (Hilton Hotel, 2018). The company made use of the modern accounting tool in their organization so that they can achieve the desired goals and get to learn some new aspects which will help the company in improving its activities in the near future. Hilton hotel makes the changes in their strategies as this is the only way through which they can come close to their mission and vision step by step.Mission and vision MissionThe mission of the hotel is to blow-out the light and warmth of the hospitality across the market.Vision The vision of the company is to become the world most preeminent hospitality company. Along with this, they want to achieve the position so that they can become the choice and preference of guest, team member and others (Hilton Hotel, 2018). Strategies of the company Service differentiation is one of the strategies of the company through which the company can generate the competitive advantage with the other competitors. The company wants to support itsentire services with high quality, maintaining the highest level of standards and the integrating

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