3. Balancescore card in cost accounting

Cost Accounting Balance score card

1. BUSINESS INTELLIGENCE Unit V MAP Code : G SRI KRISHNA ARTS & SCIENCE COLLEGE [An Autonomous Institution] Ranked 53 rd in NIRF; MHRD: 1 st in Institutional Swachhata Ranking Coimbatore – 641 008 Facilitator Dr.S.Kirubadevi Assistant Professor Commerce BPS & BI SKASC 1

2. Voice Over Video Reference Video Animation Video SKASC 2

3. Balanced scorecard The balanced scorecard is a strategy performance management tool – a semi-standard structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions SKASC 3

4. SKASC 4

5. Who Uses the Balanced Scorecard? BSCs are used extensively in business and industry, government, and nonprofit organizations worldwide. More than half of major companies in the US, Europe, and Asia are using the BSC, with use growing in those areas as well as in the Middle East and Africa. A recent global study by Bain & Co listed balanced scorecard fifth on its top ten most widely used management tools around the world. BSC has also been selected by the editors of Harvard Business Review as one of the most influential business ideas of the past 75 years. SKASC 5

6. Three things to be effective A choice of data to measure. The setting of a reference value for the data. The ability to make a corrective intervention. SKASC 6

7. BSC Terminology Perspectives SKASC 7

8. often renamed Stewardship or other more appropriate name in the public sector, this perspective views organizational financial performance and the use of financial resources. :  this perspective views organizational performance from the point of view the customer or other key stakeholders that the organization is designed to serve. SKASC 8 Financial Customer/Stakeholder

9.  views organizational performance through the lenses of the quality and efficiency related to our product or services or other key business processes. Organizational Capacity (originally called Learning and Growth):  views organizational performance through the lenses of human capital, infrastructure, technology, culture and other capacities that are key to breakthrough performance. SKASC 9 Internal Process Organization Capacity

10. Framework SKASC 10

11. Timely and accurate funding data will always be a priority, and managers will make sure to provide it. In fact, there is often more than sufficient handling and processing of financial data. With the implementation of a corporate database, it is hoped that more of the processing can be centralized and automated. SKASC 11 The Financial Perspective

12. Cont… But the point is that the current emphasis on financial issues leads to an unbalanced situation with regard to other perspectives. There is perhaps a need to include additional financial related data , such as risk assessment and cost-benefit data , in this category. SKASC 12

13. Recent management philosophy has shown an increasing realization of the importance of customer focus and customer satisfaction in any company. These are called leading indicators: if customers are not satisfied, they will eventually find other suppliers that will meet their needs. Poor performance from this perspective is thus a leading indicator of future decline. SKASC 13 The customer perspective

14. Cont… Even though the current financial picture may seem (still) good. In developing metrics for satisfaction, customers should be analyzed. In terms of kinds of customers, and of the kinds of processes for which we are providing a product or service to those customer groups .  SKASC 14

15. This perspective refers to internal business processes . Measurements based on this perspective will show the managers how well their business is running, and whether its products and services conform to customer requirements. SKASC 15 The Business Process perspective

16. Cont… Two kinds of business processes may be identified:  Mission-oriented processes.  Many unique problems are encountered in these processes. Support processes.  The support processes are more repetitive in nature, and hence easier to measure and to benchmark. Generic measurement methods can be used. SKASC 16

17. This perspective includes employee training and corporate cultural attitudes related to both individual and corporate self-improvement. In a knowledge worker organization, people are the main resource. In the current climate of rapid technological, economic changes and new legislation and regulations, it is becoming necessary for knowledge workers to learn continuously. SKASC 17 Learning and Growth perspective

18. Cont… Government agencies often find themselves unable to hire new technical workers and at the same time is showing a decline in training of existing employees. SKASC 18

19. Check Your IQ SKASC 19

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