By Khanh Pham-Gia
The target of this examine is to research no matter if the Balanced Scorecard can resolve all difficulties of conventional accounting structures. to reply to this query, first of all, commonplace difficulties of conventional accounting structures are studied. Afterwards, the elemental notion in addition to advantages and downsides of BSC are considered into information. ultimately, the boundaries and problems of BSC cognizance in perform and initiates to prevent the pitfalls are illuminated.
It will be acknowledged, that the BSC offers a holistic pondering and a stability among monetary and non-financial views: finance, shopper, inner company method, in addition to studying and progress. It is helping association to enforce method swifter and extra successfully. in addition, BSC helps managers to accomplish the controlling initiatives, specifically making plans, riding, briefing and tracking organizational activities.
However, the BSC additionally indicates a few boundaries and problems wherein the pitfalls within the preparation are in keeping with layout and procedure disasters. to prevent those pitfalls important initiates and specified good points for functional layout of BSC can be carried out. considering this ideas BSC will be used as a robust device for strategic administration accounting.
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Balanced scorecard - Solving all problems of traditional accounting systems? by Khanh Pham-Gia