Survey of Accounting (Accounting I)
Solutions
Survey of Accounting (Accounting I)
Balanced scorecard
Divide responsibilities between two groups, with one group going lo the home page of The Palladium Group al htlp://www.thepalladiumgroup.com, and the second group going to the home page of Stern Stewart & Co. at http://www.fva.com. The Palladium Group is a consulting firm that helped develop the balanced scorecard concept. Stern Stewart & Co. is a consulting firm that developed the concept of economic value added (EVA), another method of measuring corporate and divisional performance, similar to residual income.
After reading about the balanced scorecard at the palladiumgroup.com site, prepare a brief report describing the balanced scorecard and its claimed advantages. In the Stern group, use links in the home page of Stern Stewart & Co. to learn about EVA. After reading about EVA. prepare a brief report describing EVA and its claimed advantages. After preparing these reports. both groups should discuss their research and prepare a brief analysis comparing and contrasting these two approaches to corporate and divisional performance measurement.
Concept Introduction:
Balance score card is an approach which provides information to management to assist strategic implementation. It emphasizes the need to provide the user with an information.
Economic value added is a value which is in excess of required rate of return of company's shareholders.
Brief analysis and comparison of balance scorecard and EVA.
The balance scorecard measure is used by the palladium group. They implemented this measure in non-profit organization, private and government.
They manage their business from four perspective of balance scorecard:
- Learning and innovative
- Customer
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