Comment critically on the following statements that you have overheard:
(a) ‘The balanced scorecard is another name for the statement of financial position.’
(b) ‘The financial area of the balanced scorecard is, in effect, the income statement of the business and measures the profit for the period.’
(c) ‘Adopting the balanced scorecard approach means accepting a particular set of targets that were set out by Kaplan and Norton.’
(d) ‘The balanced scorecard approach tends to take little notice of financial objectives.’