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    Balanced Scorecard & Management Accounting

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    What are the advantages and disadvantages of using the balanced scorecard specifically for management accounting?

    © BrainMass Inc. brainmass.com October 9, 2019, 5:27 pm ad1c9bdddf
    https://brainmass.com/business/balanced-scorecard/balanced-scorecard-management-accounting-57784

    Solution Preview

    Please refer to response file attached, as well as one supporting outline. Clearly, the balanced scorecard has many advantages; the pitfalls mostly have to do implementation issues. I hope this helps and take care.

    SAME AS ATTACHED RESPONSE:

    Let's take a look at this interesting question:

    1. What are the advantages and disadvantages of using the balanced scorecard specifically for management accounting?

    Potential Advantages:

    ? Balanced Scorecard measure and manage intangible assets for value creation
    ? Strategy maps in visualizing the cause-and effect provide linkages between outcomes in the financial and customer perspectives and the drivers of those outcomes: the value proposition, critical internal processes, and human, information, and organization capital
    ? It enables managers to translate mission, vision, and strategy statements into a balanced scorecard for measuring and managing the intangible assets (e.g., a coherent set of Balanced Scorecard objectives, measures, targets, and initiatives manages the intangible ...

    Solution Summary

    This solution discusses the advantages and disadvantages of using the balanced scorecard specifically for management accounting. Supplemnted with extra infromation on the balanced scorecard.

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