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How Standard Costs and Balanced Scorecard will apply to someone in the future?
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Disadvantages of a balanced scorecard?
Balanced Scorecard AdvantagesThe first advantage of using the balanced scorecard method is that by looking at four aspects of a company's performance, you really do get a balanced view of company performance. Unlike traditional methods of tracking the financial health of a business, the balanced scorecard gives you a full picture as to whether your company is meeting its objectives. While it may seem that a company is doing well financially, it may be that customer satisfaction is down, employee training is inadequate, or that the processes are outdated. Second, by using a balanced scorecard approach, the immediate future isn't the only thing being evaluated. Often, when an accountant sees the financial bottom line (perhaps the company isn't doing well), suggestions are given that are immediate, but do not look at the long-term. Using balanced scorecards allows for stakeholders to determine the health of short, medium, and long term objectives at a glance.Finally, by using a balanced scorecard, a company can be sure that any strategic action implemented matches the desired outcomes. Will raising the price of a product help the bottom line of the company in the long run? It might, if the customer is satisfied with that product, or if the processes involved with creating that product make the product of a higher quality.Balanced Scorecard DisadvantagesWhile there are many advantages to using balanced scorecards in your accounting toolbox, there are a few disadvantages to the method as well. First, the balanced scorecard takes forethought. It is not a tool you can just think up one night to solve a problem. Instead, it is recommended that you hold a meeting to plan out what goals you would like to see your company reach in each of the four above areas. Once you have clearly stated objectives, you can then begin to break down these objectives in what you will need, financially, to bring these objectives to fruition. Second, while the balanced scorecard gives you an overall view of the four areas for concern in business growth and development, these four areas do not paint the whole picture. The financial information included on the scorecard is limited. Instead, to be successfully implemented, the balanced scorecard must be part of a bigger strategy for company growth that includes meticulous accounting methods.Finally, many companies use metrics that are not applicable to their own situation. It is vitally important when using balanced scorecards to make the information being tracked applicable to your needs. Otherwise, the metrics will be meaningless.
What was the purpose of balanced power?
to prevent future wars and stop political changes
The standard which it is anticipated can be attained during a future specified budget periopd is known as?
Expected standard
What do you call someone who looks into the future?
what do you call someone who looks into the furture
You need someone to tell your future?
CHANCHIS
Someone called who sees the future?
Clairvoyant
kids?
future of the World :)
What does it mean when he says you're his future wife?
If someone tells you that you are their future wife then it means that they want to marry you.
Relationship between budgets and standard costing?
they both involve the determination of future costs
Who was told your future?
In my view only your Mother knows your future. But she won't tell it to you. Or, someone out there, knows who you are, where you are. All about you. And they might also no all about your future! xx
How do you forget someone who loved you a lot but there is no future with him?
What i would do is i would find someone who you know you could have a future with. Or just think about the good things that would come without him in your life.
What is the word for someone who lacks confidence in the future?
The word for someone who lacks confidence in the future is "pessimist." A pessimist tends to expect negative outcomes and has a tendency to see the worst in things.
